Budget Issues: Budgeting for Federal Insurance ProgramsDIANE Publishing, 1998 - 224 pages Reviews the budget treatment of federal insurance programs, assesses whether the current cash-based budget provides complete information on the government's cost, & whether accrual concepts could be used to improve these programs. Identifies potential approaches for using accrual concepts in the budget for insurance programs; highlights trade-offs among different approaches, including the current cash-based treatment; discusses potential implementation issues such as cost estimation; & makes recommendations for Congressional consideration. Charts & tables. |
Common terms and phrases
Accrual Budgeting Debate accrual-based budgeting approach accrual-based cost accrued costs actuarial additional aggregate outlay approach allocation and fiscal annual appropriate assets assumed benefits billion budget reporting budgeting for federal budgeting for insurance cash basis cash flows cash-based budget Center of Accrual claim payments credit programs credit reform Crop Insurance deposit insurance developed discretionary Estimation Limitations estimation methodologies expected cost FCIC FDIC Federal Crop Insurance federal insurance programs financial condition financial statements fiscal policy flood insurance future claims government's commitment government's cost historical impact implementation included information and incentives institutions insurance commitments Insurance Fund insured events liability Limitations at Center long-term OPIC OPIC's options pricing PAYGO PBGC PBGC's pension insurance policymakers political risk insurance program account program costs put option rate-setting recognized reserves resource allocation risk assessment risk insurance risk-assumed cost estimates risk-assumed estimates subsidy cost Treasury securities Vaccine Injury Veterans VICP
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Page 39 - In holding hearings pursuant to subdivision (A), the committee shall receive testimony from the Secretary of the Treasury, the Director of the Office of Management and Budget, the Chairman of the Council of Economic Advisers, and such other persons as the committee may desire.
Page 177 - ... insurance under this section is placed in effect, or (3) in the case of a veteran granted assistance in securing a housing unit on or after such date the amount of the original loan. The amount of such insurance shall be reduced according to the amortization schedule of the loan and at no time shall exceed the amount of the outstanding loan with interest. If there is no outstanding loan on the housing unit no insurance shall be payable hereunder.
Page 34 - ... those insured to undertake greater risk than if they were uninsured because the negative consequences of such actions are passed through to the insurer.
Page 63 - No. 97 Accounting and Reporting by Insurance Enterprises for Certain Long-Duration Contracts and for Realized Gains and Losses from the Sale of Investments FASB Statement No.
Page 2 - ... both obligations and cash or cash equivalent spending. As a general rule, budget receipts and outlays are on a cash or cash equivalent basis however, interest on public issues of public debt is recorded on an accrual basis. (See also Capital Budget.) Cash or Cash Equivalent Basis The basis whereby receipts are recorded when received and expenditures are recorded when paid, without regard to the accounting period in which the receipts are earned or the costs incurred. "Cash" generally refers to...
Page 166 - The Pension Benefit Guaranty Corporation (PBGC) was established by Title IV of the Employee Retirement Income Security Act of 1974 (ERISA) to protect the retirement income of participants and beneficiaries covered by private sector, defined benefit pension plans.
Page 181 - The 1973 act required the mandatory purchase of flood insurance to cover structures in special flood hazard areas of communities participating In the program if (1) any federal loans or grants were used to acquire or build the structures and (2) the loans were secured by improved properties and were made by lending institutions regulated by the federal government.
Page 154 - ... the financial history and condition of the bank, the adequacy of Its capital structure, Its future earnings prospects, the general character of Its management, the convenience and needs of the community to be served by the bank, and whether or not Its corporate powers are consistent with the purposes of the Federal Deposit Insurance Act.
Page 24 - ... be waived by a simple majority vote. However, in the Senate, waiver of some points of order requires a three-fifths vote. (See also Concurrent Resolution on the Budget; Congressional Budget Act; Special Rules.) Prepayment of a Loan See under Asset Sale/Loan Prepayment Present Value (Economics Term) The worth of a future stream of returns or costs in terms of money paid immediately (or at some designated date). A dollar available at some date in the future is worth less than a dollar available...
Page 1 - We are sending copies of this report to the Ranking Minority Member of your Committee, the Director of the Office of Management and Budget, and interested congressional committees.