Farmers Home Administration Billions of Dollars in Farm Loans Are at Risk.

Farmers Home Administration Billions of Dollars in Farm Loans Are at Risk.

Active / Technical Report | Accession Number: ADA290111 |

Abstract:

Our objectives were to assess compliance with existing loan-making, loan-servicing, and property management standards and identify program policies that contribute to financial risk. GAOs review of FmHAs farm loan programs was part of a special audit program implemented in 1990 to respond to congressional and GAO concerns about the continued existence of serious breakdowns in internal control and financial management systems throughout the government. This program focuses on areas that GAO believes are highly vulnerable to waste, abuse, and mismanagement. It is a long-term effort that will evolve over time as agencies correct their problems and as GAO identifies new areas of concern. Continued efforts to identify and correct deficiencies in these high-risk areas and other federal programs should significantly reduce losses of federal funds due to waste, abuse, and mismanagement and increase the economy and efficiency of federal programs. AN

Author(s):

No Author(s) Identified

Author Organization(s):

GENERAL ACCOUNTING OFFICE WASHINGTON DC RESOURCES COMMUNITY AND ECONOMIC DEVE LOPMENT DIV

Supplementary Note:

Report to Congressional Committees.

Pagination:

0105

Security Markings

DOCUMENT & CONTEXTUAL SUMMARY

Distribution:

Approved For Public Release

RECORD

Collection: TR

Identifying Numbers

Report Number(s):

GAO/RCED-92-86

Monitor Series:

XD

Subject Terms

Joint Capability Areas:

JCA_5_Command and Control; JCA_4.2_Supply; JCA_4.2.1_Manage Supplies and Equipment; JCA_5.3_Planning; JCA_5.6_Monitor; JCA_5.5_Direct; JCA_4.2.2_Inventory Management; JCA_5.6.1_Assess Compliance with Guidance; JCA_5.5.1_Communicate Intent and Guidance; JCA_5.6.3_Assess Achievement of Objectives; JCA_4.5_Operational Contract Support; JCA_4.5.1_Contract Support Integration; JCA_5.3.4_Develop Courses of Action; JCA_5.3.5_Analyze Courses of Action; JCA_5.3.3_Develop Strategy; JCA_5.5.3_Establish Metrics; JCA_4.7.1_Real Property Life Cycle Management; JCA_4.7_Base and Installations Support; JCA_5.4_Decide; JCA_6.4.1_Secure Information Exchange; JCA_4.3_Maintain

Communities of Interest:

Materials and Manufacturing Processes

Descriptor(s):

*FINANCIAL MANAGEMENT, *AGRICULTURE, POLICIES, MANAGEMENT PLANNING AND CONTROL, MARKETING, RISK, INVESTMENTS, ECONOMIC IMPACT, VULNERABILITY, EFFICIENCY, STANDARDS, LOSSES, INVENTORY CONTROL, PLANNING PROGRAMMING BUDGETING, FARMS, MONEY, AUDITING

Field(s)/Group(s):

Economics and Cost Analysis, Agricultural Economics

Keyword(s):

LOANS

Report Date:

1992 Apr 01