Page:United States Statutes at Large Volume 112 Part 2.djvu/722

 112 STAT. 1606 PUBLIC LAW 105-244 —OCT. 7, 1998 "(ii) design and technical specifications for software development and systems supporting the delivery of student financial assistance under title IV; "(iii) all software and hardware acquisitions and all information technology contracts related to the delivery and management of student financial assistance under title IV; "(iv) all aspects of contracting for the information and financial systems supporting student financial assistance programs under this title; and "(v) providing all customer service, training, and user support related to systems that support those programs. "(B) Annual development of a budget for the operations and services of the PBO, in consultation with the Secretary, and for consideration and inclusion in the Department's annual budget submission. "(3) ADDITIONAL FUNCTIONS. — The Secretary may allocate to the PBO such additional functions as the Secretary and the Chief Operating Officer determine are necessary or appropriate to achieve the purposes of the PBO. "(4) INDEPENDENCE.^ -Subject to paragraph (1), in carrying out its functions, the PBO shall exercise independent control of its budget allocations and expenditures, personnel decisions and processes, procurements, and other administrative and management functions. "(5) AUDITS AND REVIEW.— The PBO shall be subject to the usual and customary Federal audit procedures and to review by the Inspector General of the Department. "(6) CHANGES. — "(A) IN GENERAL.— The Secretary and the Chief Operating Officer shall consult concerning the effects of policy, market, or other changes on the ability of the PBO to achieve the goals and objectives established in the performance plan described in subsection (c). "(B) REVISIONS TO AGREEMENT.— The Secretary and the Chief Operating Officer may revise the annual performance agreement described in subsection (d)(4) in light of policy, market, or other changes that occur after the Secretary and the Chief Operating Officer enter into the agreement. "(c) PERFORMANCE PLAN AND REPORT.— "(1) PERFORMANCE PLAN.— "(A) IN GENERAL. —Each year, the Secretary and Chief Operating Officer shall agree on, and make available to the public, a performance plan for the PBO for the succeeding 5 years that establishes measurable goals and objectives for the organization. "(B) CONSULTATION.— In developing the 5-year performance plan and any revision to the plan, the Secretary and the Chief Operating Officer shall consult with students, institutions of higher education. Congress, lenders, the Advisory Committee on Student Financial Assistance, and other interested parties not less than 30 days prior to the implementation of the performance plan or revision. "(C) AREAS. —The plan shall include a concise statement of the goals for a modernized system for the delivery of student financial assistsmce under title IV and identify

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