Financial management (1 - 10 of 41 items)
Innovative Manufacturing: Commerce Should Target Program Outreach to Address Capital Access Gaps
GAO-16-271: Published: Feb 4, 2016. Publicly Released: Feb 4, 2016.
The Department of Commerce's Economic Development Administration (EDA) has taken a number of steps to implement the Federal Loan Guarantees for Innovative Technologies in Manufacturing (ITM) program, but several key tasks remain before EDA can issue loan guarantees. EDA hired a contractor to assist with developing the program, drafted program documents and published them in the Federal Register fo...
Gulf Coast Disaster Recovery: Community Development Block Grant Program Guidance to States Needs to Be Improved
GAO-09-541: Published: Jun 19, 2009. Publicly Released: Jul 20, 2009.
Almost 4 years after the 2005 Gulf Coast hurricanes, the region continues to face daunting rebuilding challenges. To date, $19.7 billion in Community Development Block Grant (CDBG) funds have been appropriated for Gulf Coast rebuilding assistance--the largest amount in the history of the program. GAO was asked to report on (1) how Louisiana and Mississippi allocated their shares of CDBG funds, (2)...
New Markets Tax Credit: Minority Entities Are Less Successful in Obtaining Awards Than Non-Minority Entities
GAO-09-795T: Published: Jun 18, 2009. Publicly Released: Jun 18, 2009.
The Community Development Financial Institutions (CDFI) Fund in the Department of the Treasury has awarded $21 billion of the $26 billion in New Markets Tax Credits (NMTC) authorized to be awarded to Community Development Entities (CDE) between 2001 and 2009. CDEs use the NMTC to make qualified investments in low-income communities. Recent congressional interest has focused on participation by min...
New Markets Tax Credit: Minority Entities Are Less Successful in Obtaining Awards Than Non-Minority Entitities
GAO-09-536: Published: Apr 30, 2009. Publicly Released: Jun 1, 2009.
The Community Development Financial Institutions (CDFI) Fund in the Department of the Treasury has awarded $19.5 billion of the $26 billion in New Markets Tax Credits (NMTC) it is authorized to award through 2009 to encourage investment in low-income communities. The NMTC allows investors to claim a tax credit in exchange for investing in Community Development Entities (CDE) that reinvest the fund...
Rural Economic Development: Collaboration between SBA and USDA Could Be Improved
GAO-08-1123: Published: Sep 18, 2008. Publicly Released: Sep 18, 2008.
The Small Business Administration (SBA) and the Rural Development offices of the U.S. Department of Agriculture both work in rural areas to foster economic development by promoting entrepreneurship and community development. This report discusses (1) the complementary nature of some SBA and Rural Development programs and the extent to which it provides a rationale for the agencies to collaborate,...
HUD and Treasury Programs: More Information on Leverage Measures' Accuracy and Linkage to Program Goals Is Needed in Assessing Performance
GAO-08-136: Published: Jan 18, 2008. Publicly Released: Feb 19, 2008.
This is the second of two reports on the leveraging of federal funds in housing and community and economic development programs. Leveraging involves using a source of funds to attract other funds or combining multiple sources of funds. This report examines (1) the leverage measures and the transparency of the data and methods used to calculate them, and (2) the relevance of such measures in assess...
Foreign Assistance: U.S. Funds to Two Micronesian Nations Had Little Impact on Economic Development
NSIAD-00-216: Published: Sep 21, 2000. Publicly Released: Sep 21, 2000.
Pursuant to a congressional request, GAO reviewed foreign assistance, focusing on the: (1) use of the Compact of Free Association funding by the Federated States of Micronesia (FSM) and the Republic of the Marshall Islands (RMI) between fiscal years 1987 and 1998; (2) progress both nations have made in advancing economic self-sufficiency; (3) role of Compact funds in supporting economic progress;...
Credit Reform: Improving Rural Development's Credit Program Cost Estimates
AIMD-00-286R: Published: Aug 22, 2000. Publicly Released: Aug 22, 2000.
Pursuant to a legislative requirement, GAO provided information on the Department of Agriculture's (USDA) Rural Development (RD) mission area's progress in improving its credit program cost estimates.GAO noted that: (1) the task force has made some progress in addressing the deficiencies related to reasonably estimating the cost of RD's credit programs; (2) progress made since GAO's last briefing...
Foreign Assistance: U.S. Funds to Two Micronesian Nations Had Little Impact on Economic Development and Accountability Over Funds Was Limited
T-NSIAD/RCED-00-227: Published: Jun 28, 2000. Publicly Released: Jun 28, 2000.
Pursuant to a congressional request, GAO discussed economic assistance provided by the United States under the Compact of Free Association, focusing on the: (1) use of the Compact funding by the Federated States of Micronesia and the Republic of the Marshall Islands; (2) progress made by both nations in advancing economic self-sufficiency; (3) role of Compact funds in supporting economic progress;...
Tennessee Valley Authority: Response to Questions From September 22, 1999, Hearing
AIMD-00-47R: Published: Nov 19, 1999. Publicly Released: Nov 19, 1999.
Pursuant to a congressional request, GAO provided information on the Tennessee Valley Authority (TVA).GAO noted that: (1) because of TVA's high fixed interest charges, GAO concluded that TVA lacked the financial flexibility it would need to compete in a deregulated environment; (2) interest expense on outstanding debt has been about one-third of TVA's total expenses in recent years; (3) reducing d...