Credit Reform: Key Credit Agencies Had Difficulty Making Reasonable Loan Program211 Cost Esitmates

摘要

Our report on the fiscal year 1997 consolidated financial statements of the211u001efederal government raised major concerns about the ability of credit agencies' to 211u001ereasonably estimate, for both financial statement and budgetary purposes, subsidy 211u001ecosts. To gain an understanding of the key issues impeding reasonable estimates 211u001eof subsidy costs of credit programs for the five key credit agencies, the Small 211u001eBusiness Administration (SBA) and the Department of Education, Housing and Urban 211u001eDevelopment (HUD), Veterans Affairs (VA), and Agriculture (USDA), we reviewed 211u001ethese agencies' abilities to reasonably estimate the cost of their loan programs, 211u001eincluding whether they used practices identified by the Credit Reform Task Force 211u001eas being effective in making these estimates. We also reviewed the status of 211u001eagencies' efforts to ensure that computer systems used to estimate the cost of 211u001ecredit programs are Year 2000 compliant.