Download or read book Doe Loan Programs written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-10-05 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: DOE's Loan Programs Office administers the Loan Guarantee Program (LGP) for certain renewable or innovative energy projects and the Advanced Technology Vehicles Manufacturing (ATVM) loan program for projects to produce more fuel-efficient vehicles and components. As of March 2014, the programs had made more than $30 billion in loans and guarantees: approximately $21.9 billion for 33 loan guarantees under the LGP and $8.4 billion for 5 loans under the ATVM loan program. Both programs can expose the government and taxpayers to substantial financial risks should borrowers default. GAO assessed the extent to which DOE has developed and adhered to loan monitoring policies for its loan programs for 2009 to 2013. GAO analyzed relevant regulations and guidance; prior audits; DOE policies; and DOE data, documents, and monitoring reports for a nonprobability sample of 10 loans and guarantees. Findings from the sample are not generalizable, but the sample covered a range of technologies and loan statuses. GAO also interviewed DOE officials.
Download or read book DOE Loan Programs DOE Should Fully Develop Its Loan Monitoring Function and Evaluate Its Effectiveness written by United States. Government Accountability Office and published by . This book was released on 2014 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Doe Loan Programs written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-05-11 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: DOE LOAN PROGRAMS: DOE Has Made More Than $30 Billion in Loans and Guarantees and Needs to Fully Develop Its Loan Monitoring Function
Download or read book DOE loan programs written by Frank W. Rusco and published by . This book was released on 2014 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Department of Energy Oversight written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Oversight and Investigations and published by . This book was released on 2015 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Doe Loan Guarantees written by U. s. Government Accountability Office and published by Createspace Independent Pub. This book was released on 2013-03-15 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Department of Energy (DOE) has made $15 billion in loan guarantees and conditionally committed to an additional $15 billion, but the program does not have the consolidated data on application status needed to facilitate efficient management and program oversight. For the 460 applications to the Loan Guarantee Program (LGP), DOE has made loan guarantees for 7 percent and committed to an additional 2 percent. The time the LGP took to review loan applications decreased over the course of the program, according to GAO's analysis of LGP data. However, when GAO requested data from the LGP on the status of these applications, the LGP did not have consolidated data readily available and had to assemble these data over several months from various sources. Without consolidated data on applicants, LGP managers do not have readily accessible information that would facilitate more efficient program management, and LGP staff may not be able to identify weaknesses, if any, in the program's application review process and approval procedures. Furthermore, because it took months to assemble the data required for GAO's review, it is also clear that the data were not readily available to conduct timely oversight of the program. LGP officials have acknowledged the need for a consolidated system and said that the program has begun developing a comprehensive business management system that could also be used to track the status of LGP applications. However, the LGP has not committed to a timetable to fully implement this system. The LGP adhered to most of its established process for reviewing applications, but its actual process differed from its established process at least once on 11 of the 13 applications GAO reviewed. Private lenders who finance energy projects that GAO interviewed found that the LGP's established review process was generally as stringent as or more stringent than their own. However, GAO found that the reviews that the LGP conducted sometimes differed from its established process in that, for example, actual reviews skipped applicable review steps. In other cases, GAO could not determine whether the LGP had performed some established review steps because of poor documentation. Omitting or poorly documenting reviews reduces the LGP's assurance that it has treated applicants consistently and equitably and, in some cases, may affect the LGP's ability to fully assess and mitigate project risks. Furthermore, the absence of adequate documentation may make it difficult for DOE to defend its decisions on loan guarantees as sound and fair if it is questioned about the justification for and equity of those decisions. One cause of the differences between established and actual processes was that, according to LGP staff, they were following procedures that had been revised but were not yet updated in the credit policies and procedures manual, which governs much of the LGP's established review process. In particular, the version of the manual in use at the time of GAO's review was dated March 5, 2009, even though the manual states it was meant to be updated at least annually, and more frequently as needed. The updated manual dated October 6, 2011, addresses many of the differences GAO identified. Officials also demonstrated that LGP had taken steps to address the documentation issues by beginning to implement its new document management system. However, by the close of GAO's review, LGP could not provide sufficient documentation to resolve the issues identified in the review.
Download or read book Committee on Appropriations January 2 2015 House Report 113 724 January 3 2014 Through January 2 2015 113 2 written by and published by . This book was released on 2015 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Fiscal Year 2016 Budget Request for the U S Department of Energy written by United States. Congress. Senate. Committee on Energy and Natural Resources and published by . This book was released on 2015 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Doe Loan Programs written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-10-05 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: DOE's Loan Programs Office administers the LGP and the ATVM loan program to support certain renewable or innovative energy technologies. Both programs can expose the government and taxpayers to substantial financial risks if borrowers default. DOE accounts for two types of program costs: credit subsidy costs and administrative costs. The Energy Policy Act of 2005 requires LGP to charge and collect fees to cover applicable administrative expenses. GAO has an ongoing mandate to review the LGP. Because DOE administers the LGP and ATVM loan program through one office, GAO included both programs in this review. This report (1) describes DOE's loan portfolio and the portfolio's current status, (2) describes the current estimated credit subsidy costs of the loan programs and the extent to which credit subsidy cost estimates changed, and (3) examines DOE's administrative costs for the loan programs and the extent to which fees have covered LGP's administrative costs. GAO analyzed regulations and guidance, prior audits, and DOE data on credit subsidy estimates and administrative costs for all loans and guarantees originated under these loan programs. GAO also interviewed DOE officials.
Download or read book Doe Loan Programs written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-05-12 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: DOE Loan Programs: Information on Implementation of GAO Recommendations and Program Costs
Download or read book DOE Loan Programs written by Frank Rusco and published by . This book was released on 2015-06-05 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Department of Energy's (DOE's) Loan Programs Office administers the Loan Guarantee Program (LGP) and the Advanced Technology Vehicles Manufacturing (ATVM) loan program to support certain renewable or innovative energy technologies. Both programs can expose the government and taxpayers to substantial financial risks if borrowers default. This report (1) describes DOE's loan portfolio and the portfolio's current status; (2) describes the current estimated credit subsidy costs of the loan programs and the extent to which credit subsidy cost estimates changed; and (3) examines DOE's administrative costs for the loan programs and the extent to which fees have covered LGP's administrative costs. Tables and figures. This is a print on demand report.
Download or read book Loan Monitoring System written by United States. General Accounting Office and published by . This book was released on 2001 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Loan Guarantee Program written by United States. Congress. Senate. Committee on Energy and Natural Resources and published by . This book was released on 2011 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Federal Family Education Loan Program written by George A. Scott and published by DIANE Publishing. This book was released on 2008 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Concerns have been raised about the Dept. of Education¿s role in overseeing the lenders & schools that participate in the largest of the Federal government¿s student loan programs, the Federal Family Education Loan Program (FFELP). The author was asked to analyze the Dept. of Education¿s use of its oversight, guidance, & enforcement authorities under FFELP. To do this, the author reviewed departmental documents & Federal laws, regulations, & cases & interviewed officials from the Dept. of Education & the student loan industry. Includes recommendations. Charts & tables.
Download or read book Department of Energy written by Frank Russo and published by DIANE Publishing. This book was released on 2009-02 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: Title XVII of the Energy Policy Act of 2005 established DoE¿s loan guarantee program (LGP) for innovative energy projects that should decrease air pollutants or greenhouse gases and that have a reasonable prospect of repayment. For FY 2008 and 2009, Congress authorized the use of borrower fees to pay the costs of loan guarantees; DoE will limit loan guarantees to $38.5 billion. Congress mandated this review of DoE¿s progress in assessing progress in: (1) issuing final regulations; and (2) taking actions to help ensure that the program is managed effectively and to maintain accountability. Also assessed how inherent risks due to the nature of the LGP may affect DoE¿s ability to achieve intended program outcomes. Includes recommendations. Illus.
Download or read book Federal Family Education Loan Program written by George A. Scott and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Concerns have been raised about the Department of Education's (Education) role in overseeing the lenders and schools that participate in the largest of the federal government's student loan programs, the Federal Family Education Loan Program (FFELP). GAO was asked to analyze Education's use of its oversight, guidance, and enforcement authorities under FFELP. To do this, GAO reviewed departmental documents and federal laws, regulations, and cases and interviewed officials from Education and the student loan industry. GAO recommends that the Secretary of Education: (1) update the department's oversight mechanisms to proactively identify possible instances of improper inducements and limitations on borrower choice; (2) be more proactive in investigating situations involving possible instances of these prohibited activities; (3) issue new guidance regarding inducements to guide the student loan industry until the relevant proposed regulations are finalized and become effective; and (4) develop a protocol to determine the appropriate level of response for cases of non-compliance and assess the effectiveness of these actions to inform and improve this protocol. Education agreed with the first two recommendations but did not explicitly agree or disagree with the other two. The following are appended: (1) Briefing Slides; (2) Scope and Methodology; (3) Comments from the Department of Education; and (4) GAO Contact and Staff Acknowledgments. [This report was produced by the United States Government Accountability Office.].
Download or read book Doe Loan Guarantees written by U.s. Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-08-03 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: " The Department of Energy's (DOE) Loan Guarantee Program (LGP) was created by section 1703 of the Energy Policy Act of 2005 to guarantee loans for innovative energy projects. Currently, DOE is authorized to make up to $34 billion in section 1703 loan guarantees. In February 2009, the American Recovery and Reinvestment Act added section 1705, making certain commercial technologies that could start construction by September 30, 2011, eligible for loan guarantees. It provided $6 billion in appropriations that were later reduced by transfer and rescission to $2.5 billion. The funds could cover DOE's costs for an estimated $18 billion in additional loan guarantees. GAO has an ongoing mandate to review the program's implementation. Because of concerns raised in prior work, GAO assessed (1) the status of the applications to the LGP and (2) for loans that the LGP has committed to, or made, the extent to which the program has adhered to its process for reviewing applications. GAO analyzed relevant legislation, regulations, and guidance; prior audits; and LGP data, documents, and applications. GAO also interviewed DOE officials and private lenders with experience in energy project lending. "
