{"product_id":"maritime-administration-efforts-to-improve-data-on-the-federal-ship-financing-program-rced-87-58-9781289107024","title":"Maritime Administration: Efforts To Improve Data on the Federal Ship Financing Program: RCED-87-58","description":"\u003cp\u003e • Author(s): U. S. Government Accountability Office (\u003cbr\u003e • Publisher: Bibliogov\u003cbr\u003e • Publisher Imprint: Bibliogov\u003cbr\u003e • BISAC: General\u003c\/p\u003e\u003cp\u003eIn response to a congressional request, GAO examined the Maritime Administration's (MARAD) Federal Ship Financing Program and its estimated $5-billion portfolio of loan guarantees. \u003cbr\u003e GAO found that: (1) MARAD considered 20 percent of the program loans to be at risk of default; (2) in 1986, default payments exceeded $1.2 billion; and (3) since the fund was not self-supporting, it needed approximately $1.4 billion in supplemental appropriations to repay outstanding loans. GAO also found that: (1) MARAD borrowed from the Treasury to cover the bulk of its 1987 program expenses; (2) improper and inadequate cost accounting procedures and underestimation of 1986 default payments caused the program's financial problems; and (3) MARAD plans to take corrective action to minimize its data problem.\u003c\/p\u003e","brand":"Bibliogov","offers":[{"title":"Paperback","offer_id":47596664520855,"sku":"9781289107024","price":1566.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0666\/3471\/1191\/files\/9781289107024.webp?v=1774994679","url":"https:\/\/atlanticbooks.com\/products\/maritime-administration-efforts-to-improve-data-on-the-federal-ship-financing-program-rced-87-58-9781289107024","provider":"Atlantic Books","version":"1.0","type":"link"}