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Credit Reform: Speculative Savings Used to Offset Current Spending Increase Budget Uncertainty

AIMD-94-46 Published: Mar 18, 1994. Publicly Released: Mar 18, 1994.
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Highlights

Pursuant to a congressional request, GAO reviewed the use of present value based credit savings to offset expenditures of a noncredit program, focusing on whether: (1) estimated savings from guaranteed student loans (GSL) can be used to offset unemployment benefits; and (2) GSL program savings estimates are speculative.

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Topics

Auditing and Financial Management
Accounting proceduresBudget administrationCollection proceduresCost controlCreditFederal agency accounting systemsFuture budget projectionsGovernment guaranteed loansIntragovernmental transactionsOffsetting collections