Download or read book Budget Treatment of Federal Credit Programs written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Federal Credit Programs and published by . This book was released on 1984 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Budgetary Treatment of Federal Credit Direct Loans and Loan Guarantees written by James M. Bickley and published by Createspace Independent Pub. This book was released on 2012-08-10 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. government uses federal credit (direct loans and loan guarantees) to allocate financial capital to a range of areas, including home ownership, higher education, small business, agriculture, and energy. At the end of FY2011, outstanding federal credit totaled $2.9 trillion. This report explains the budgetary treatment of federal credit, examines proposed reforms, and describes relevant bills introduced in the 112th Congress. Title V of the Omnibus Budget Reconciliation Act of 1990 (P.L. 101-508), the Federal Credit Reform Act of 1990 or FCRA, changed how the unified budget reports the cost of federal credit activities (i.e., federal direct loans and loan guarantees) to an accrual basis beginning in 1992. Before FY1992, for a given fiscal year, the budgetary cost of a new direct loan or loan guarantee was the net cash flow for that fiscal year. This cash flow measure did not accurately reflect the cost of a loan or loan guarantee, which is its subsidy cost over the entire life of the loan or loan guarantee, that is, its accrual cost. Beginning with FY1992, FCRA required that the reported budgetary cost of a credit program equal the estimated subsidy costs at the time the credit is provided. The FCRA defines the subsidy cost as “the estimated long-term cost to the government of a direct loan or a loan guarantee, calculated on a net present value basis, excluding administrative costs.” This arguably places the cost of federal credit programs on a budgetary basis equivalent to other federal outlays. Because the subsidy costs of discretionary credit programs (such as the business loan programs of the Small Business Administration and the loan guarantee programs of the Export-Import Bank) are now provided through appropriations acts, this change meant that discretionary credit programs must compete with other discretionary programs on an equal basis. In contrast, funding for most mandatory credit programs (generally entitlement programs) is provided by permanent appropriations. The director of the Office of Management and Budget (OMB) is responsible for coordinating the estimation of subsidy costs to the federal government. Since the passage of the FCRA, federal agencies, working with OMB, have steadily improved their compliance with credit reform standards. In October 1990, the Federal Accounting Standards Advisory Board (FASAB) was established. In August 1993, this board required that agencies' accounting procedures be consistent with their budgetary procedures for their federal credit programs. On August 5, 1997, the Balanced Budget Act of 1997 (P.L. 105-33) was enacted, amending the FCRA to make technical changes, including codifying several guidelines set by OMB. Four proposals to expand credit reform have been discussed: the principles of credit reform could be applied to government-sponsored enterprises (GSEs); the principles of credit reform could be extended to federal insurance programs; the budgetary cost of capital for credit programs could be changed to include market risk; and the administrative costs of credit programs could be included in the calculation of the costs of these programs. These proposals are described in this report. In the 112th Congress, four bills have been proposed with provisions concerning the budgetary treatment of federal credit: related bills S. 1651/H.R. 3414 (Honest Budget Act); H.R. 3581 (Budget and Accounting Transparency Act of 2011); and H.R. 3844 (Honest Budget Act of 2012). H.R. 3581 was passed by the House but has not been acted on by the Senate.
Download or read book Hidden Spending written by Dennis S. Ippolito and published by UNC Press Books. This book was released on 2017-10-01 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ippolito examines the least publicized source of our current fiscal troubles--federal credit programs. Since the 1970s these programs (primary components of the federal policy in such areas as housing, agriculture, education, and international affairs) have grown dramatically, but neither the growth nor their costs have been reflected in the budget. The true costs are not tangible and direct, but these programs can affect investment, economic growth, and productivity. Originally published 1984. A UNC Press Enduring Edition -- UNC Press Enduring Editions use the latest in digital technology to make available again books from our distinguished backlist that were previously out of print. These editions are published unaltered from the original, and are presented in affordable paperback formats, bringing readers both historical and cultural value.
Download or read book Report of the Temporary Subcommittee on Federal Credit to the Committee on the Budget United States Senate written by United States. Congress. Senate. Committee on the Budget. Temporary Subcommittee on Federal Credit and published by . This book was released on 1983 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Budget Issues written by United States. General Accounting Office and published by . This book was released on 1989 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Control of Federal Credit Programs written by United States. Congress. House. Committee on the Budget. Task Force on Budget Process and published by . This book was released on 1980 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Credit Reform written by and published by . This book was released on 1989 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Budget Treatment of Federal Credit Programs written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Federal Credit Programs and published by . This book was released on 1984 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book New Approaches to the Budgetary Treatment of Federal Credit Assistance written by Marvin Phaup and published by . This book was released on 1984 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Budgetary Treatment of Federal Credit direct Loans and Loan Guarantees written by and published by . This book was released on 2014 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Budget Options written by United States. Congressional Budget Office and published by . This book was released on 2003 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Circular No A 11 written by Omb and published by . This book was released on 2019-06-29 with total page 534 pages. Available in PDF, EPUB and Kindle. Book excerpt: The June 2019 OMB Circular No. A-11 provides guidance on preparing the FY 2021 Budget and instructions on budget execution. Released in June 2019, it's printed in two volumes. This is Volume I. Your budget submission to OMB should build on the President's commitment to advance the vision of a Federal Government that spends taxpayer dollars more efficiently and effectively and to provide necessary services in support of key National priorities while reducing deficits. OMB looks forward to working closely with you in the coming months to develop a budget request that supports the President's vision. Most of the changes in this update are technical revisions and clarifications, and the policy requirements are largely unchanged. The summary of changes to the Circular highlights the changes made since last year. This Circular supersedes all previous versions. VOLUME I Part 1-General Information Part 2-Preparation and Submission of Budget Estimates Part 3-Selected Actions Following Transmittal of The Budget Part 4-Instructions on Budget Execution VOLUME II Part 5-Federal Credit Part 6-The Federal Performance Framework for Improving Program and Service Delivery Part7-Appendices Why buy a book you can download for free? We print the paperback book so you don't have to. First you gotta find a good clean (legible) copy and make sure it's the latest version (not always easy). Some documents found on the web are missing some pages or the image quality is so poor, they are difficult to read. If you find a good copy, you could print it using a network printer you share with 100 other people (typically its either out of paper or toner). If it's just a 10-page document, no problem, but if it's 250-pages, you will need to punch 3 holes in all those pages and put it in a 3-ring binder. Takes at least an hour. It's much more cost-effective to just order the bound paperback from Amazon.com This book includes original commentary which is copyright material. Note that government documents are in the public domain. We print these paperbacks as a service so you don't have to. The books are compact, tightly-bound paperback, full-size (8 1/2 by 11 inches), with large text and glossy covers. 4th Watch Publishing Co. is a HUBZONE SDVOSB. https: //usgovpub.com
Download or read book New Approaches to the Budgetary Treatment of Federal Credit Assistance written by Marvin Phaup and published by . This book was released on 1984 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Report of the Committee on Federal Credit Programs to the President of the United States written by United States. Committee on Federal Credit Programs and published by . This book was released on 1963 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Budgeting for Administrative Costs Under Credit Reform written by Philip Joyce and published by . This book was released on 1992 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Federal Credit Reform written by United States. Congress. House. Committee on the Budget. Task Force on Urgent Fiscal Issues and published by . This book was released on 1990 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Fiscal and Economic Effects of Federal Credit Assistance Programs written by International Monetary Fund and published by International Monetary Fund. This book was released on 1990-10-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: While federal credit programs are varied in form, their fiscal and economic effects arise primarily from the same source—each program’s subsidy component. Recent credit reform proposals would make control of credit subsidies the primary focus of budgetary efforts. By subjecting these subsidies to annual appropriations, the Government would gain more effective means to control the long-run fiscal effects of credit programs. Such reforms also would represent an important first step in improving their economic effects by eliminating unintended subsidies. However, many high subsidy-rate programs appear to have a significant effect on the allocation of credit without yielding clearcut efficiency gains.