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Samples in periodicals archive:
In fact, that GAO report pointed out that the federal government uses a single accounting method for its credit programs, including student loans, as outlined in the Federal Credit Reform Act of 1990.
In accordance with the Federal Credit Reform Act of 1990, the request for credit administrative expenses will fund the total cost of development, implementation, and financial management of the DCA program, as well as the continued administration of the Agency's legacy credit portfolios which amount to more than $21 billion.
By failing to accurately report costs, the Education Department is not complying with the Federal Credit Reform Act of 1990, GAO charged.
Under the Federal Credit Reform Act, Congress must set aside the $265 million, which includes $15 million for administrative costs.
Under the Federal Credit Reform Act of 1990, appropriations to cover potential risks must be available prior to the issuance of any financing approvals.
Under the Federal Credit Reform Act (FCRA) of 1990 the government calculates, for purposes of the budget, the net cost of extending or guaranteeing credit over the life of a loan, called a subsidy cost.
The OIG also reported that USDA was unable to estimate and reestimate loan subsidy costs for its net credit program receivables, rendering it unable to implement the Federal Credit Reform Act of 1990, and related accounting standards.