United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office Accounting and Information Management Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1994-03-18 monographic deposited born digital GA 1.13:AIMD-94-46 https://www.govinfo.gov/app/details/GAOREPORTS-AIMD-94-46 P0b002ee18037916b f:ai94046 DGPO 2010-08-12 2011-03-28 GAOREPORTS-AIMD-94-46 machine generated eng fdlp REPORT GAOREPORTS-AIMD-94-46 AIMD-94-46 Government guaranteed loans Federal agency accounting systems Collection procedures Offsetting collections Accounting procedures Future budget projections Credit Budget administration Cost control Intragovernmental transactions Guaranteed Student Loan Program Federal Family Education Loan Program Letter Report AIMD Using the present valued based estimated future savings from a credit program to offset expenditures of a noncredit program is consistent with both the theory behind credit reform and the application of credit reform requirements. However, the opportunity to use such savings to offset current spending can create an incentive for overly optimistic, if not unrealistic, savings estimates. The net present value of estimated additional future collections on guaranteed student loans resulting from the 1991 Emergency Unemployment Compensation Act was scored as anticipated under the Budget Enforcement Act, the Omnibus Budget Reconciliation Act of 1993, the Federal Credit Reform Act of 1990, and existing scorekeeping conventions governing cost estimation and the budgetary effect of legislation. Estimates of the guaranteed student loan program savings were speculative because the Education Department has little historical data on which to base one of the collection methods. This greatly increased budgetary uncertainty. https://www.govinfo.gov/content/pkg/GAOREPORTS-AIMD-94-46/html/GAOREPORTS-AIMD-94-46.htm GAO/AIMD-94-46 https://www.govinfo.gov/app/details/GAOREPORTS-AIMD-94-46 Letter Report GAO/AIMD-94-46; Credit Reform: Speculative Savings Used to Offset Current Spending Increase Budget Uncertainty; Government guaranteed loans Federal agency accounting systems Collection procedures Offsetting collections Accounting procedures Future budget projections Credit Budget administration Cost control Intragovernmental transactions Guaranteed Student Loan Program Federal Family Education Loan Program Public Law 101-508 Public Law 102-164 Public Law 103-66