Profiles of Existing Government Corporations - US Government ...

46
CORPORATION PROlr1L.E
Exm
LITIGATION STATWS: Litigation is handled by the Department of
Justice. EXItI may represent itmolf or contract for
representation in proceadings outside the United States.
FINANCIALADDIT~: Subject to the GCCA. Tha General
Accounting offica (GAO) is to perform a financial audit at leaet
once every three year8. The audit shell be coneietent vith
principles and procedures applicable to commercial corporate
traneactione. EXIT mU8t reimburee GAO for the co8t of the audit.
FINANCIAL AUDITOR: GAO
-AUDIT 7: None l pecified in enabling legislation
CYl'EERAlJDITOR: None l pecified in enabling legielation
AUDITED: GAO, fiscal year 1987 audit
OPmoN: GAO iseued an adverse opinion due to the materiality of
the offect of not establishing a loan-lose remome.
ACCOUNTING PRINCIPIXS: Accounting records are maintained on an
accrual basis and financial l tatemente are preperad n accordance
vith generally accepted accountng principles (GMP). ii
m: $1,266,100,000
APPROPRIATIONS EXPXNDD: None
ExPmsNs: $1,729,000,000
NXT IIf- (IDSS); (5460,900,OOO)
GRAnTs1ssDzD: S42,100,000
IOANS ISSDND: ss9a,9oo,ooo
IDAN PA- RXCEIVED: $3,611,200,000 (Source:
IDAN Lossss: S6,000,000 (Not of rocoveriee)
IDAN caDa-: S15,182,.900,000
IDANS ODTNTANDING: s11,213,300,000
IwIm: s4o,ooo,ooo,oooc
INNDNANCB -ANDmG: $8,339,400,000
xNsuRANcN BOLD: Not determinable
1989 Budgot)