Small Business Administration:
Mandated Planning for Loan Monitoring System Is Not Complete
AIMD-98-214R: Published: Jun 30, 1998. Publicly Released: Jun 30, 1998.
Pursuant to a legislative requirement, GAO provided information on the Small Business Administration's (SBA) June 2, 1998, report on its status in completing eight legislatively mandated planning actions for a proposed loan monitoring system.
GAO noted that: (1) GAO's review of SBA's planning initiatives and its June 1998 report showed that SBA formed a project team for the loan monitoring system in December 1997, but it had not yet completed any of the eight planning actions required by the Small Business Reauthorization Act of 1997; (2) SBA's report explains how the loan monitoring system fits into an agencywide systems modernization effort and provides a project plan for completing the eight mandated planning actions; (3) the project plan describes the methodologies that SBA plans to use and specifies the tasks, timeframes, and estimated costs for planning and developing the loan monitoring system; and (4) the project plan shows that SBA commenced work on the first of the required planning actions in May 1998 and projects that it will complete work on the last of them in August 1999.