Download or read book Financial Audit Farmers Home Administration s Losses Have Increased Significantly written by United States. General Accounting Office and published by . This book was released on 1988 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Financial Audit written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-08 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Financial Audit written by United States. General Accounting Office and published by . This book was released on 1988 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Financial Audit written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-07 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: GAO examined the Farmers Home Administration's (FmHA) consolidated statements of its financial position as of September 30, 1988 and 1987, and the related statements of operations and cash flows for the fiscal years then ended. GAO found that: (1) the statements presented fairly the FmHA financial position as of September 30, 1988 and 1987, and the related statements of operations and cash flows for the years then ended, in conformity with generally accepted accounting principles; (2) although FmHA implemented the Acquired Property Tracking System (APTS) in response to internal accounting deficiencies, the system did not conform to federal agency policies and procedures; (3) FmHA had not completed system modifications which would allow it to properly record acquired property or integrated APTS data with the related general ledger control accounts; (4) APTS contained inaccurate and incomplete information from FmHA field offices, since the software did not include parameter checks to detect unreasonable property values; (5) FmHA field supervisors did not establish market values for collateral in order to project loan losses; and (6) FmHA did not have an appropriate methodology for determining the necessary property holding and disposition costs to ensure reasonable loan loss estimates and acquired property balances.

Download or read book Auditing and Financial Management written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-07 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pursuant to a congressional request, GAO reviewed the: (1) Farmers Home Administration's (FmHA) use of Coordinated Financial Statements (CFS); (2) FmHA county supervisors' and borrowing farmers' views on CFS complexity and usefulness; (3) impact on loan applications; and (4) adequacy of FmHA county supervisor and farmer training instructional booklets. GAO found that: (1) FmHA selected CFS to replace the Farm and Home Plan (F&HP) which it used to gather financial and production data for operating loans; (2) the complete financial position of a borrower or loan applicant was not readily apparent with F&HP; and (3) CFS would result in sounder loans, lower delinquencies, and more creditworthy applicants for commercial loans. GAO found that: (1) most supervisors said that CFS were more effective in monitoring farmer performance and helping to improve farmer efficiency, but 80 percent of the farmers said that CFS were difficult to prepare; and (2) CFS were more complex and required over twice the amount of time spent with each farmer preparing the F&HP.

Download or read book Review of the Farmers Home Administration FmHA Farm Loan Programs written by United States. Congress. House. Committee on Agriculture. Subcommittee on Conservation, Credit, and Rural Development and published by . This book was released on 1991 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Review of Farmers Home Administration FmHA Farm Loan Program written by United States. Congress. House. Committee on Agriculture. Subcommittee on Conservation, Credit, and Rural Development and published by . This book was released on 1990 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Review of Farmers Home Administration s Emergency Loan Program written by United States. Congress. House. Committee on Agriculture. Subcommittee on Conservation and Credit and published by . This book was released on 1979 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Agriculture and Human Values written by and published by . This book was released on 1991 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Loss of Subsidized Multifamily Housing Units written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Housing and Community Development and published by . This book was released on 1986 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Farmer s Tax Guide written by and published by . This book was released on 1995 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Changes in Farmers Home Administration Loan Programs written by United States. Congress. Senate. Committee on Agriculture, Nutrition, and Forestry. Subcommittee on Agricultural Credit and Rural Electrification and published by . This book was released on 1978 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Agricultural Finance Review written by and published by . This book was released on with total page 880 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Agriculture and Related Agencies Appropriations Bill written by United States. Congress. House. Committee on Appropriations and published by . This book was released on 1976 with total page 918 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Review of Problems Related to Purchase of Mortgaged Agricultural Commodities written by United States. Congress. House. Committee on Agriculture. Subcommittee on Livestock, Dairy, and Poultry and published by . This book was released on 1984 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Local Food Systems Concepts Impacts and Issues written by Steve Martinez and published by DIANE Publishing. This book was released on 2010-11 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive overview of local food systems explores alternative definitions of local food, estimates market size and reach, describes the characteristics of local consumers and producers, and examines early indications of the economic and health impacts of local food systems. Defining ¿local¿ based on marketing arrangements, such as farmers selling directly to consumers at regional farmers¿ markets or to schools, is well recognized. Statistics suggest that local food markets account for a small, but growing, share of U.S. agricultural production. For smaller farms, direct marketing to consumers accounts for a higher percentage of their sales than for larger farms. Charts and tables.

Download or read book Code of Federal Regulations written by and published by . This book was released on 1994 with total page 1052 pages. Available in PDF, EPUB and Kindle. Book excerpt: Special edition of the Federal Register, containing a codification of documents of general applicability and future effect ... with ancillaries.