Farmers Home Administration County Supervisors' and Farmers' Views on the New Coordinated Financial Statements
RCED-85-84: Published: Jul 29, 1985. Publicly Released: Jul 29, 1985.
Additional Materials:
- Full Report:
Contact:
Pursuant to a congressional request, GAO reviewed the: (1) Farmers Home Administration's (FmHA) use of Coordinated Financial Statements (CFS); (2) FmHA county supervisors' and borrowing farmers' views on CFS complexity and usefulness; (3) impact on loan applications; and (4) adequacy of FmHA county supervisor and farmer training instructional booklets.
GAO found that: (1) FmHA selected CFS to replace the Farm and Home Plan (F&HP) which it used to gather financial and production data for operating loans; (2) the complete financial position of a borrower or loan applicant was not readily apparent with F&HP; and (3) CFS would result in sounder loans, lower delinquencies, and more creditworthy applicants for commercial loans. GAO found that: (1) most supervisors said that CFS were more effective in monitoring farmer performance and helping to improve farmer efficiency, but 80 percent of the farmers said that CFS were difficult to prepare; and (2) CFS were more complex and required over twice the amount of time spent with each farmer preparing the F&HP.
Feb 18, 2021
-
Financial Audit:
Federal Deposit Insurance Corporation Funds' 2020 and 2019 Financial StatementsGAO-21-284R: Published: Feb 18, 2021. Publicly Released: Feb 18, 2021.
Nov 16, 2020
-
Financial Audit:
Bureau of Consumer Financial Protection's FY 2020 and FY 2019 Financial StatementsGAO-21-174R: Published: Nov 16, 2020. Publicly Released: Nov 16, 2020. -
Financial Audit:
Federal Housing Finance Agency's FY 2020 and FY 2019 Financial StatementsGAO-21-201R: Published: Nov 16, 2020. Publicly Released: Nov 16, 2020. -
Financial Audit:
Securities and Exchange Commission's FY 2020 and FY 2019 Financial StatementsGAO-21-192R: Published: Nov 16, 2020. Publicly Released: Nov 16, 2020.
Nov 10, 2020
-
Financial Audit:
IRS's FY 2020 and FY 2019 Financial StatementsGAO-21-162: Published: Nov 10, 2020. Publicly Released: Nov 10, 2020. -
Financial Audit:
Office of Financial Stability's (Troubled Asset Relief Program) FY 2020 and FY 2019 Financial StatementsGAO-21-173R: Published: Nov 10, 2020. Publicly Released: Nov 10, 2020.
Nov 9, 2020
-
Financial Audit:
Bureau of the Fiscal Service's FY 2020 and FY 2019 Schedules of Federal DebtGAO-21-124: Published: Nov 9, 2020. Publicly Released: Nov 9, 2020.
Nov 6, 2020
-
FY 2020 Excise Tax:
Agreed-Upon Procedures Related to Distributions to Trust FundsGAO-21-163R: Published: Nov 6, 2020. Publicly Released: Nov 6, 2020.
Oct 13, 2020
-
DOD Financial Management:
Continued Efforts Needed to Correct Material Weaknesses Identified in Financial Statement AuditsGAO-21-157: Published: Oct 13, 2020. Publicly Released: Oct 13, 2020.
Sep 30, 2020
-
Financial Management:
DOD Needs to Implement Comprehensive Plans to Improve Its Systems EnvironmentGAO-20-252: Published: Sep 30, 2020. Publicly Released: Sep 30, 2020.
Looking for more? Browse all our products here