Last updated: April 4, 2007

• Federal Credit Reform Act of 1990, as Amended
• OMB Credit Guidance
• Budget Publications
• Other Credit Information

Federal Credit Reform Act of 1990, as Amended

OMB Credit Guidance

OMB Circular A-129, Policies for Federal Credit Programs and Non-Tax Receivables
A-129 provides policy guidelines for developing, implementing, and managing credit programs.

Budget Publications

Budget of the United States Government
Each year, the President transmits the Budget of the United States Government to the Congress. The GPO budget site provides materials from the most recent budget as well as materials from previous budgets since the Budget for fiscal year 1996. 

Federal Credit Supplement
In addition to the six formal budget documents, supplemental materials are also available, including the Federal Credit Supplement. The full FY 1998-FY 2009 Credit Supplements are available. Individual credit supplement tables may also be downloaded in spreadsheet form.

• FY 2009 Federal Credit Supplement (pdf or spreadsheet)
• FY 2008 Federal Credit Supplement (pdf or spreadsheet)
• FY 2007 Federal Credit Supplement (pdf or spreadsheet)
• FY 2006 Federal Credit Supplement (pdf or spreadsheet)
• FY 2005 Federal Credit Supplement (pdf or spreadsheet)
• FY 2004 Federal Credit Supplement (pdf or spreadsheet)
• FY 2003 Federal Credit Supplement (pdf or spreadsheet)
• FY 2002 Federal Credit Supplement (pdf or spreadsheet)
• FY 2001 Federal Credit Supplement (pdf or spreadsheet)
• FY 2000 Federal Credit Supplement (pdf or spreadsheet)
• FY 1999 Federal Credit Supplement (pdf or spreadsheet)
• FY 1998 Federal Credit Supplement (pdf or spreadsheet)

Other Credit Information

Accounting and Auditing Policy Committee (AAPC)
AAPC was created by the Federal Accounting Standards Advisory Board (see below).  The AAPC provides implementation guidance for accounting standards, for OMB's "Form and Content of Agency Financial Statements" guidance, and for audit issues.  AAPC's Technical Release 3: Preparing and Auditing Estimates for Direct Loans and Loan Guarantees provides guidance on auditing credit programs. AAPC's Technical Release 6: Preparing Estimates for Direct Loan and Loan Guarantee Subsidies provides guidance on creating subsidy estimates.

Accounting and Auditing Policy Committee (AAPC) Credit Reform Task Force
The AAPC Credit Reform Task Force addresses issues related to credit accounting, auditing, budgeting, and reporting.  The site provides information on its activities, credit reform issue papers, and links to other credit reform information.

Federal Accounting Standards Advisory Board (FASAB)
FASAB considers and recommends accounting principles for the Federal Government.  Accounting standards for Federal credit programs are provided by FASAB's:

• Statement of Federal Financial Accounting Standards (SFFAS) Number 2, "Accounting for Direct Loans and Loan Guarantees."
• Statement of Federal Financial Accounting Standards Number 18, "Amendments To Accounting Standards For Direct Loans and Loan Guarantees" (amends SFFAS 2).
• Statement of Federal Financial Accounting Standards Number 19, "Technical Amendments to Accounting Standards For Direct Loans and Loan Guarantees" (amends SFFAS 2).

Federal Credit Policy Working Group (FCPWG)
FCPWG is an inter-agency forum that provides assistance and advice on credit policy issues.  Current FCPWG committees include Agenda, Loan Sales, Housing Consortium, and OMB Credit.

General Accounting Office (GAO)
The General Accounting Office and President's Council on Integrity and Efficiency (PCIE) Financial Audit Manual provides guidance on auditing financial statements. Guidance specific to Federal credit programs is provided in section 395 F Sup, "Budget Control Objectives - Federal Credit Reform Act Supplement."

Office of Federal Financial Management (OFFM), Office of Management and Budget
The Office of Federal Financial Management (OFFM) is the Executive Branch's central point for developing and promulgating Federal financial management policy.  OFFM's OMB Bulletin 01-09, "Form and Content of Agency Financial Statements" provides guidance on reporting credit program data, as well as other types of data, in agency financial statements.

U.S. Treasury Debt Management Services
This site provides information related to Government-wide debt collection activities.  The full text of the Debt Collection Improvement Act (DCIA), as well as related information, may be accessed at this site.

U.S. Treasury Financial Management Service: Credit Reform Accounting
This site provides case studies and other information on accounting for credit programs, including presentation of credit programs in financial statements.

U.S. Treasury Financial Management Service: Treasury Financial Manual
This site provides the Treasury Financial Manual on-line. See especially I TFM 2-4600, "Treasury Reporting Instructions for Credit Reform Legislation." See also Bulletin 2003-08, "Cutoff Date for Electronically Processing the Interest on Uninvested Funds."

U.S. Treasury Financial Management Service: Treasury Certificate in Credit Reform
This site provides information on the Treasury Certificate in Credit Reform accounting.  Treasury offers six courses under this certificate: Credit Program Accounting and Reporting Concepts; Direct Loan Programs; Loan Guarantee Programs; Foreclosed Property in Credit Programs; Concepts of Present Value; and Pre-Credit Reform Loans and Guarantees.

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