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Vincent G. Logan, Chairman and Chief Executive Officer (CEO)

Jeffery S. Hall, Board Member

Glen R. Smith, Board Member 

MINUTES OF THE REGULAR MEETING

OF THE

FARM CREDIT ADMINISTRATION BOARD

January 11, 2024

These minutes reflect the business transacted at the January 11, 2024, regular meeting of the 

Farm Credit Administration (FCA) Board pursuant to the Government in the Sunshine Act, 5 

U.S.C. § 552b, and the regulations of the FCA adopted thereunder.

The meeting was held at the FCA office in McLean, Virginia. The meeting began at 10:00 a.m. 

and concluded at 10:23 a.m. The meeting was a hybrid physical/virtual meeting.

Members of the Board present were:

Vincent G. Logan, Chairman and CEO

Jeffery S. Hall, Member

Glen R. Smith, Member

The above named constitute the full Board.

Others present included Ashley Waldron, Secretary to the Board; David Grahn, General 

Counsel; and staff of the FCA and Farm Credit System Insurance Corporation (FCSIC). There 

were seven members of the general public in attendance. (A list of Board and staff attendees is 

attached as Exhibit A.)

Chairman Logan called the meeting to order.

The Secretary addressed technical and protocol items and read a statement that announced the 

meeting would be conducted according to the requirements of the Government in the Sunshine 

Act.

ADOPTION OF AGENDA

Chairman Logan reviewed the published agenda. (A copy of the Public Announcement 

publishing the agenda for the meeting is attached as Exhibit B.)

Mr. Hall moved to adopt the agenda as published.

Mr. Smith seconded the motion.
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There being no further discussion, Chairman Logan called the question.

The Secretary polled the Board Members and the motion carried unanimously.

CONSIDERATION TO CLOSE PORTIONS OF THE MEETING

Mr. Smith noted that the agenda did not include portions of the meeting that should be closed to 

the public as permitted by the Government in the Sunshine Act and therefore moved that the 

entire meeting remain open.

Mr. Hall seconded the motion.

There being no further discussion, Chairman Logan called the question.

The Secretary polled the Board Members and the motion carried unanimously.

OPEN SESSION

Approval of Minutes

Minutes for December 14, 2023

(BM-11-JAN-24-01)

Mr. Hall moved to approve the minutes for the December 14, 2023, FCA regular board meeting, 

as presented.

Mr. Smith seconded the motion.

There being no further discussion, Chairman Logan called the question.

The Secretary polled the Board Members and the motion carried unanimously. (BM-11-JAN24-01)

(A copy of the official “Board Action Item” is attached as Exhibit C.)

Reports

Office of Inspector General Year-in-Review Report

Wendy Laguarda, Sonya Cerne, and Kevin Miller of the Office of Inspector General

presented the Office of Inspector General Year-in-Review Report.

(A copy of the PowerPoint presentation is attached as Exhibit D.)

ADJOURNMENT

There being no further business to come before the Board, Chairman Logan indicated he would 

entertain a motion to adjourn the meeting.

Mr. Smith moved that the meeting be adjourned.

Mr. Hall seconded the motion.

There being no further discussion, Chairman Logan called the question.
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The Secretary polled the Board Members and the motion carried unanimously.

The meeting adjourned at 10:23 a.m.

NOTATIONAL VOTE ACTIONS 

There were four notational vote actions approved by the FCA Board from December 14, 2023, 

through January 10, 2024. 

Item 

Number

Action 

Date

Voting 

Results

Subject

NV 23-40 12/20/2023 Approved Update of Delegation of Authority for Reporting of Director, Office of 

Secondary Market Oversight

NV 24-01 1/5/2024 Approved Farm Credit Administration Fiscal Year 2025 Proposed Budget

NV 24-02 1/5/2024 Approved Approval of the Inclusion of a Full Faith and Credit Government

Guarantee as an Asset in a System Institution’s Statutory Collateral 

Calculation

NV 24-03 1/9/2024 Approved Civil Money Penalties Inflation Adjustment

The undersigned hereby certify that the foregoing minutes are the official minutes of the regular 

meeting of the Farm Credit Administration Board held on January 11, 2024.

___________/s/___________

Vincent G. Logan

Chairman and CEO

___________/s/___________

Ashley Waldron

Secretary to the Board

Approved: February 8, 2024
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Exhibit A 

BOARD AND STAFF PRESENT AT THE 

FCA REGULAR BOARD MEETING 

January 11, 2024

Vincent G. Logan, Chairman and CEO

Jeffery S. Hall, Board Member

Glen R. Smith, Board Member

ATTENDEES OPEN 

SESSION 

Office of the Board

Logan, Vincent X

Hall, Jeffery X

Smith, Glen X

Lund, Zachary X

Donner, Mary Alice X

Stokke, Michael X

Greer, Kristin X

Calhoun, Gaye X

Waldron, Ashley X

Hoffman, Bill X

OCOS

Duran, Maribel X

Coleman, Robert X

Cunningham, Lesley X

OEEOI

Burlew, Thais X

Fish, Tyler X

Major, Sara Lynn X

OIT

Versace, Jerry X

Matos, Ricardo X

Rana, Ben X

Amaya, Victor X

OCPA

Reuschel, Trevor X

Rezendes, Andrew X

OGC

Grahn, David X

Griffin, Ward X

OE

Duffy, Mike X

Fennewald, Dan X

Greenlee, Angela X

ODAE

D’Antoni, Jeremy X

Iannetta, Sal X

OIG

Laguarda, Wendy X
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ATTENDEES OPEN 

SESSION 

Cerne, Sonya X

Miller, Kevin X

OSMO

Fay, Thomas X

Hudson, Bruce X

ORP

Kramp, Kevin X

Agans, Autumn X

OCFO

Walters, Sandi X

Gandy, Doug X

OAS

Bell, Vonda X

Clark, Patrina X

Adkins, Byron X

FCSIC

Grimaldi, Andrew X

GENERAL PUBLIC 7
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Exhibit B 

Farm Credit Administration 1501 Farm Credit Drive

McLean, VA 22102-5090

(703) 883-4000

PUBLIC ANNOUNCEMENT OF 

MEETING SUBJECT TO THE GOVERNMENT IN THE SUNSHINE ACT

Farm Credit Administration Board 

Regular Meeting 

January 11, 2024 

TIME AND DATE: 10 a.m., Thursday, January 11, 2024. 

PLACE: You may observe this meeting in person at 1501 Farm Credit Drive, McLean, 

Virginia 22102-5090, or virtually. If you would like to observe, at least 24 hours in advance, 

visit FCA.gov, select “Newsroom,” then select “Events.” From there, access the linked 

“Instructions for board meeting visitors” and complete the described registration process.

STATUS: This meeting will be open to the public.

MATTERS TO BE CONSIDERED: The following matters will be considered:

• Approval of Minutes for December 14, 2023 

• Office of Inspector General Year-in-Review Report 

CONTACT PERSON FOR MORE INFORMATION: If you need more information or assistance 

for accessibility reasons, or have questions, contact Ashley Waldron, Secretary to the Board. 

Telephone: 703-883-4009. TTY: 703-883-4056.

___________/s/___________

Ashley Waldron

Secretary to the Board

December 28, 2023
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Exhibit C 

Farm Credit Administration 

BOARD ACTION ITEM

1501 Farm Credit Drive

McLean, VA 22102-5090

(703) 883-4000

FCA BOARD ACTION ON

Minutes for December 14, 2023 

BM-11-JAN-24-01

Effective Date: January 11, 2024 

Impact on Prior Board Actions: None

THE FCA BOARD HEREBY:

• Approves the minutes for December 14, 2023. 

DATED THIS 11th DAY OF JANUARY 2024 

BY ORDER OF THE BOARD

___________/s/___________

Ashley Waldron

Secretary to the Board
OFFICE OF INSPECTOR GENERAL 

2023 YEAR-IN-REVIEW

KEVIN MILLER

COUNSEL TO THE 

INSPECTOR GENERAL

SONYA CERNE

ASSISTANT INSPECTOR GENERAL FOR 

AUDITS, INSPECTIONS & EVALUATIONS

WENDY LAGUARDA

INSPECTOR GENERAL

Exhibit D
OFFICE OF INSPECTOR GENERAL

PARTICIPATING & COLLABORATING WITH IG COMMUNITY

CROSS-CUTTING ISSUES

 Maintaining an arm’s length, yet trusted relationship with our agencies

 Producing clear, thorough, and impactful oversight reports

 Communicating with Congress 

IGs REPORTING TO BOARDS

 Collaborating on Best Practices and Standards

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OFFICE OF INSPECTOR GENERAL

HOT TOPICS

PROACTIVE VERSUS REACTIVE OVERSIGHT WORK

 Cybersecurity Testing

 Department of Commerce OIG – “Simulated Internal Cyber Attack Gained Control of Critical 

Census Bureau Systems”

 Department of Interior OIG – P@s$w0rds at the U.S. Department of the Interior: Easily Cracked 

Passwords, Lack of Multifactor Authentication, and Other Failures Put Critical DOI Systems at Risk

REACTIVE WORK ALSO IMPORTANT

 Hotline Tips and Whistleblowers often a source of reactive oversight

 Misuse of government property, abuse of authority, and waste of taxpayer funds at the Architect 

of the Capitol

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OFFICE OF INSPECTOR GENERAL

HOT TOPICS

WORKPLACE CULTURE AND ENVIRONMENT

 Employee surveys to uncover issues that have not necessarily been 

reported or to get a pulse on the ongoing environment, culture, etc.

 Harassment

 Discrimination

 Accessibility Issues

 COVID, telework

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OFFICE OF INSPECTOR GENERAL

HOT TOPICS

DIVERSITY, EQUITY, INCLUSION, AND ACCESSIBILITY

 DEIA Working Group elevated to a standing IG Committee

 OIGs are increasingly bringing a DEIA lens to oversight work 

 Department of Health and Human Services OIG on the importance of telehealth 

services during COVID for underserved communities. 

 Department of Education OIG inspection on Federal Student Aid’s Outreach to 

Individuals in Underserved Communities.

 Department of Housing and Urban Development OIG evaluation on Contaminated Sites 

Posing Potential Health Risks to Residents at HUD-Funded Properties.

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DETERMINING OVERSIGHT WORK

 The role of federal Inspectors General is to prevent and detect waste, fraud, and abuse and 

to promote economy, efficiency, and effectiveness in agency programs and operations.

 In planning for audits, inspections, and evaluations (AIE), the OIG employs a risk-based 

approach that accounts for:

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 prior oversight work,

 the control environment, 

 input from the FCA Board and senior 

management, 

 resource allocations,

 changes in programs, 

 OIG hotline activity, 

 Congressional interest, and 

 statutory requirements.

 We develop and issue an annual AIE Plan to cover a 2-year period.
AUDITS, INSPECTIONS, AND EVALUATIONS

Completed AIE work in Calendar Year 2023:

 FCA’s Examiner Staffing Program (January 2023) 

 FCA’s Compliance with the Payment Integrity Information Act of 2019 for 

Fiscal Year 2022 (February 2023)

 FCA’s Office of Data Analytics and Economics (June 2023) 

 FCA’s Process for Merger Activities in the Farm Credit System (September 

2023) 

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AUDITS, INSPECTIONS, AND EVALUATIONS

 FCA’s Compliance with the Federal Information Security Modernization Act 

for Fiscal Year 2023 (July 2023)

 FCA’s Financial Statements, Fiscal Year 2023 (November 2023)

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OTHER REPORTS AND REVIEWS

 Top Management Challenges 

 Surveys of Farm Credit System Institutions Regarding the Agency’s 

Examination Function 

 2023 Internal Quality Assurance Review of our audit, inspection, and 

evaluation functions

 Internal control reviews and risk management updates

 Semiannual Reports to Congress

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PEER REVIEWS

 Conducted a peer review of the Capitol Police 

OIG’s audit function

 Investigation program will be peer reviewed in 

2025

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LOOKING 

FORWARD

Some examples from our Audit, Inspection, 

and Evaluation Plan for Fiscal Years 2023-2024:

 Telework and Remote Work Program

 Planning for the Use of Artificial Intelligence 

and Machine Learning

 Borrower Complaint Process

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INVESTIGATIVE ACTIVITIES

 OIG hotline exists to receive complaints and information regarding 

suspected wrongdoing

 24 complaints received

 1 investigation closed

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OUTREACH EFFORTS

 The dIG

 OIG Posters

 New employee orientations

 Presentation on 

Whistleblower Protections

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INTERAGENCY 

COLLABORATION

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AGENCY COOPERATION

 FCA cooperation with the OIG is essential for our work to be effective

 FCA staff professionalism and courtesy

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WHERE TO FIND OIG WORK

Want to know more about our office?

 FCA.gov website

 Read our quarterly newsletter, The dIG

 Come visit us, in-person (in Suite 2100) or virtually

Want to know more about other offices of Inspector General?

 Oversight.gov

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