Status of Progress in Correcting Selected High-Risk Areas
T-AFMD-93-1: Published: Feb 3, 1993. Publicly Released: Feb 3, 1993.
- Full Report:
GAO discussed seven areas covered by its high-risk program and several crosscutting issues that affect these and other problem areas throughout the government. GAO noted that: (1) the Pension Benefit Guaranty Corporation's (PBGC) principal financial problem is a large and growing deficit caused by terminations of large underfunded plans; (2) at the end of fiscal year 1991, PBGC had an estimated deficit of $2.3 billion; (3) the Internal Revenue Service (IRS) collects $1 trillion in taxes each year, but its efforts to collect delinquent taxes have been inefficient and unbalanced, creating a serious loss of revenue; (4) the Health Care Financing Administration's inability to properly manage contractors processing Medicare claims has caused loss and waste; (5) the Customs Service did not detect about 84 percent of estimated trade law violations during fiscal year 1991 and has experienced declines in the percentage of estimated cargo violations detected since calendar year 1988; (6) the Resolution Trust Corporation has discharged some of its resolution and asset sales responsibilities well, but poor planning and execution of real estate disposition strategies have hampered its overall performance; and (7) the Superfund Program is costly, and should be justified on evidence that expenditures will result in commensurate benefits to human health and the environment, but the government lacks an adequate system for assessing the relative risks of Superfund sites.