Financial Management: Impact of RUS' Electricity Loan Restructurings

A letter report issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO reviewed the Rural Utilities Service's (RUS) electricity loan restructurings, focusing on: (1) RUS' policies and procedures for restructuring financially troubled generation and transmission (G&T) loans and whether these are being consistently followed; (2) whether RUS properly carried out loan restructurings in accordance with criteria defined in the Federal Credit Reform Act of 1990 and Office of Management and Budget (OMB) guidance; (3) how much it cost the federal government to restructure RUS debt since enactment of its debt settlement authority; and (4) whether the costs of restructuring loans are accurately reported.