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Offices, Department of the Treasury, Executive (71 - 80 of 1,206 items)
Troubled Asset Relief Program: Treasury Continues to Wind down Most Programs, but Housing Programs Remain Active
GAO-15-197: Published: Jan 6, 2015. Publicly Released: Jan 6, 2015.
The Department of the Treasury (Treasury) continues to wind down Troubled Asset Relief Program (TARP) nonhousing programs that were designed to support financial and automotive markets (see figure). As of September 30, 2014, Treasury had exited four of the nine nonhousing programs that were once active, and was managing assets totaling $2.9 billion under those remaining. Some programs have yielded...
State and Local Governments' Fiscal Outlook: 2014 Update
GAO-15-224SP: Published: Dec 17, 2014. Publicly Released: Dec 17, 2014.
GAO's State and Local Fiscal SimulationsFiscal sustainability presents a national challenge shared by all levels of government. Since 2007, GAO has published simulations of long-term fiscal trends in the state and local government sector. These simulations have consistently shown that state and local governments face long-term fiscal pressures. Absent any policy changes, the sector will face an in...
Federal Subcontracting: Linking Small Business Subcontractors to Prime Contracts Is Not Feasible Using Current Systems
GAO-15-116: Published: Dec 11, 2014. Publicly Released: Dec 11, 2014.
The contract reporting systems GAO reviewed contain relevant information on subcontracting plans, subcontracts, and subcontractors, but no single system was designed to link small business subcontractors to prime contracts. Linking small business subcontractors to prime contracts when there is a subcontracting plan that pertains to multiple contracts is especially difficult because these plans do...
Small Business Credit Programs: Treasury Continues to Enhance Performance Measurement and Evaluation but Could Better Communicate and Update Results
GAO-15-105: Published: Dec 11, 2014. Publicly Released: Dec 11, 2014.
The Small Business Lending Fund (SBLF) and State Small Business Credit Initiative (SSBCI) have continued to support small business lending. According to the Department of the Treasury (Treasury), as of June 30, 2014, SBLF participants had increased their qualified small business lending by $13.5 billion over their aggregate 2010 baseline, and SSBCI participants had used 60 percent of the $1.5 bill...
Vaccine Injury Compensation: Most Claims Took Multiple Years and Many Were Settled through Negotiation
GAO-15-142: Published: Nov 21, 2014. Publicly Released: Nov 21, 2014.
Most of more than 9,800 claims filed with the National Vaccine Injury Compensation Program (VICP) since fiscal year 1999 have taken multiple years to adjudicate (see fig.). More than 1,000 (11 percent) of claims filed since fiscal year 1999 were still in process (pending) as of March 31, 2014; most of these were pending for 2 years or less. A greater percentage of the claims filed since fiscal yea...
Financial Audit: Bureau of the Fiscal Service's Fiscal Years 2014 and 2013 Schedules of Federal Debt
GAO-15-157: Published: Nov 10, 2014. Publicly Released: Nov 10, 2014.
In GAO's opinion, the Bureau of the Fiscal Service's (Fiscal Service) Schedules of Federal Debt for fiscal years 2014 and 2013 were fairly presented in all material respects, and Fiscal Service maintained, in all material respects, effective internal control over financial reporting relevant to the Schedule of Federal Debt as of September 30, 2014. GAO's tests disclosed no instances of reportable...
Fiscal Year 2014 Agreed-Upon Procedures: Excise Tax Distributions to the Airport and Airway Trust Fund and the Highway Trust Fund
GAO-15-152R: Published: Nov 6, 2014. Publicly Released: Nov 6, 2014.
GAO performed the procedures contained in the enclosures to this report, which it agreed to perform solely to assist the Department of Transportation’s Inspector General in ascertaining whether the net excise tax revenue distributed to the Airport and Airway Trust Fund (AATF) and the Highway Trust Fund (HTF) for the fiscal year ended September 30, 2014, is supported by underlying records. GAO wa...
Energy Policy: Information on Federal and Other Factors Influencing U.S. Energy Production and Consumption from 2000 through 2013
GAO-14-836: Published: Sep 30, 2014. Publicly Released: Oct 30, 2014.
According to the studies and reports GAO reviewed, several major factors, including federal activities, influenced U.S. production and consumption of fossil, nuclear, and renewable energy from 2000 through 2013. Examples of these factors include the following:Fossil energy. Advances in drilling technologies enabled economic production of natural gas and crude oil from shale and similar geological...
Individual Retirement Accounts: Preliminary Information on IRA Balances Accumulated as of 2011 [Reissued on October 22, 2014]
GAO-14-878T: Published: Sep 16, 2014. Publicly Released: Sep 16, 2014.
For tax year 2011 (the most recent year available), an estimated 43 million taxpayers had individual retirement accounts (IRA) with total reported fair market value of $5.2 trillion. About 99 percent of those taxpayers had aggregate IRA balances (including inherited IRAs) of $1 million or less. As shown in the table below, few taxpayers had aggregated balances exceeding $5 million as of 2011. Gene...
Troubled Asset Relief Program: Treasury Could Better Analyze Data to Improve Oversight of Servicers' Practices
GAO-15-5: Published: Oct 6, 2014. Publicly Released: Oct 6, 2014.
Through June 2014, the U.S. Department of the Treasury (Treasury) had disbursed about one-third of the $38.5 billion in Troubled Asset Relief Program (TARP) funds allocated to housing programs. However, the number of new borrowers added to the Home Affordable Modification Program (HAMP), the key component of the Making Home Affordable (MHA) program, began to decline in late 2013 after remaining re...