Author: United States. General Accounting OfficePublisher:
ISBN:
Category : Agricultural credit
Languages : en
Pages : 52
Book Description
Financial Audit : Farmers Home Administration's Losses Have Increased Significantly
Author: United States. General Accounting OfficePublisher:
ISBN:
Category : Agricultural credit
Languages : en
Pages : 52
Book Description
Financial Audit
Author: U S Government Accountability Office (GPublisher: BiblioGov
ISBN: 9781289275877
Category :
Languages : en
Pages : 56
Book Description
GAO examined the Farmers Home Administration's (FmHA): (1) financial statements for the year ended September 30, 1987; (2) internal accounting control system; and (3) compliance with laws and regulations. GAO found that, although the financial statements presented fairly the FmHA financial condition, FmHA: (1) had a significantly deteriorating financial condition, with an accumulated deficit of $36 billion; (2) relies on Treasury loans to continue its operations and may require significantly increased congressional assistance to sustain operations; (3) had an operating loss of $22 billion for fiscal year (FY) 1987; and (4) owed the Treasury $85 billion, with $24 billion due in 1989. GAO also found that FmHA: (1) made loans at interest rates far below what it had to repay; (2) as a lender of last resort, made loans to individuals who were not otherwise creditworthy, resulting in a large number of delinquent loans; (3) did not record property it received by voluntary conveyance at fair-market value; (4) lacked a policy for writing off uncollectible loans and did not analyze the ultimate collectibility of its loan portfolio in accordance with Office of Management and Budget (OMB) requirements; (5) had numerous control weaknesses in its Automated Multiple Family Housing Accounting System (AMAS); (6) lacked adequate controls over the entry of guaranteed loans into its accounting system; and (7) did not reconcile its detailed property files with general ledger control accounts.
Financial Audit
Author: United States. General Accounting OfficePublisher:
ISBN:
Category : Agricultural credit
Languages : en
Pages : 47
Book Description
Farmers Home Administration
Author: Review of the Farmers Home Administration (FmHA) Farm Loan Programs
Author: United States. Congress. House. Committee on Agriculture. Subcommittee on Conservation, Credit, and Rural DevelopmentPublisher:
ISBN:
Category : Agricultural credit
Languages : en
Pages : 272
Book Description
Review of Farmers Home Administration [FmHA] Farm Loan Program
![Review of Farmers Home Administration [FmHA] Farm Loan Program PDF](https://books.google.com/books/content/images/frontcover/6PdrQoctRq8C?fife=w80-h100)
Author: United States. Congress. House. Committee on Agriculture. Subcommittee on Conservation, Credit, and Rural DevelopmentPublisher:
ISBN:
Category : Agricultural credit
Languages : en
Pages : 272
Book Description
Farmers Home Administration
Author: John W. HarmanPublisher:
ISBN:
Category : Agricultural credit
Languages : en
Pages : 16
Book Description
Reports Issued in ...
Author: Status of Open Recommendations
Author: United States. General Accounting OfficePublisher:
ISBN:
Category : Administrative agencies
Languages : en
Pages : 288
Book Description
Farmers Home Administration
Author: United States. General Accounting OfficePublisher:
ISBN:
Category : Agricultural credit
Languages : en
Pages : 70
Book Description