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The Secretary of the Treasury, in coordination with the Director of the Office of Management and Budget (OMB), is required to annually prepare and submit audited financial statements of the U.S. government to the President and the Congress.
In response to a January 2003 GAO report that identified significant anomalies in the Small Business Administration's (SBA) disaster loan accounts and raised serious concerns about its ability to account for loan sales and estimate program costs, SBA conducted an extensive analysis to identify causes...
The Small Business Administration (SBA) approved about $8.6 billion in loan guarantees through its 7(a) loan program in fiscal year 2003. SBA must estimate the subsidy cost of this program. Since fiscal year 2003, SBA has been using econometric modeling to estimate the subsidy.
The process and types of data the Small Business Administration (SBA) uses to estimate the subsidy cost of the 7(a)General Business Loan Program are generally reasonable and comply with existing Office of Management and Budget guidance.
Pursuant to a congressional request, GAO reported on the government's measurement of subsidy costs for federal direct loans and loan guarantees, focusing on whether: (1) agencies completed estimates and reestimates of subsidy costs; (2) GAO could readily discern any trends including improvements in subsidy...
A review was made of the practices of 12 executive civil agencies in pricing negotiated noncompetitive contracts over $100,000 when contractors' cost or pricing data were required. The price negotiations reviewed included 61 contracts valued at $33 million that were awarded in fiscal year 1977.