Federal Credit Reform:

Information On Credit Modifications and Financing Accounts

AIMD-93-26: Published: Sep 30, 1993. Publicly Released: Sep 30, 1993.

Additional Materials:

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

Pursuant to a congressional request, GAO provided information on federal agencies': (1) cost calculations of loan obligation and loan guarantee commitment modifications under credit reform; and (2) control of payments from financing accounts established by the Federal Credit Reform Act of 1990.

GAO found that: (1) of the five lending agencies reviewed, only the Department of Education has credit program modifications that require cost calculations under the Federal Credit Reform Act; (2) Education does not expect that its future loan obligation and loan guarantee commitment modifications will require cost estimates except possibly for loan sales under its construction loan program; (3) the other agencies believe that their loan programs will not generally experience the type of modifications requiring cost estimates; (4) the agencies use various estimating procedures to generate financing account information because their financial systems are not designed to meet the new accounting and financial reporting requirements; and (5) the agencies' financial accounting systems do not provide accurate and reliable data necessary for management budget analyses.

Oct 20, 2017

Oct 2, 2017

  • auditing icon, source: PhotoDisc

    U.S. Territories:

    Public Debt Outlook
    GAO-18-160: Published: Oct 2, 2017. Publicly Released: Oct 2, 2017.

Sep 26, 2017

Jul 13, 2017

Jul 12, 2017

Jun 30, 2017

Jun 29, 2017

Jun 14, 2017

Jun 13, 2017

Looking for more? Browse all our products here