Profiles of Existing Government Corporations - US Government ...

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CORRXATION PROPILB
PBGC
FINANCI.ALAUDLT RRQtJIR?XQlTS: Subject to the GCCA. The General
Accounting Office (GAO) is to perform a finanCia1 audit at least
once every three years. The audit shall be conaiatant with
principles and procedures applicable to commercial corporate
tranaactiona. PBGC must reimburse GAO for the coat of the audit.
FINANCIAL AUDITOR: GAO
OTER AUDIT REQUIREMENTS: None specified in enabling
legislation.
-AUDITOR: None
AUDITXD: Fiscal Year 1987 unaudited financial statements.
OPINION: Not applicablab
ACCWNTING PRINCIPLl!S: Accounting records are maintained on an
accrual baaia and financial l tatamanta are prepared in accordance
with genarally accepted accounting principlaa (GAAP) and
actuarial standards. Investments are recorded at market value.
RNvmDBs: s549,o25,oooc
APPROPRIATIONS BXPRNDND: None
BXPNNSBS: ($1,7S2,474,000)d
NET INCONN (USS): s2,301,499,000
GRANTS ISSTJXD: None
WMS 1ssvBD: S1,554,000e
IDAN PA- RlKRIVYSD: None
LOAN IossNs: (S9,069,000)
IDAN CWINIRIQSTS: None
IBANS WJTSTANDRlG: $6,925,000 Groaa/S3,656,000 Net of reserve
for uncollectible amounts.
LOANIARUT: None l pecifiad in l nebling legislation.
INSURANCE OCITBTANDING: Not determinable
INsDRANcs som: Not datarminebla
INSURANCE COINUTIQZNTS: None
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