August 3, 2000
Error
messages and warning messages:
How
the cash flow estimates are checked
Why
cash flow estimates are checked
Cash flow estimates are checked
for (a) the presence of conditions that make it impossible to calculate a
subsidy and (b) conditions that may indicate errors or inconsistencies in the
cash flows, but do not prevent the calculation of the subsidy. When an instance of the first category is
found, an error message is displayed and processing of the cash flows
stops. When instances of the second
category are found, warning messages are collected and displayed, together with
the display of the subsidy and its derivation.
The CSC does not modify data in
any way. The subsidy, when calculated,
will always be based on the values provided.
Description
of the error messages
The following conditions will
result in an error message and stop further processing of the cash flows
estimates:
E001: Missing
spreadsheet file
Description: This message is applicable when the CSC is run in command
line mode and a spreadsheet name is specified on the command line. In this case, the spreadsheet should either
be in the default directory or be fully specified with drive letter and full
directory path.
When the
CSC cannot find the file specified, this message will result.
Resolution: Verify the file name, extension, and path and make changes to
the command line as necessary.
E002: Unable to open
the file as a spreadsheet
Description: The CSC was able to locate the file but could not interpret
the content. The CSC uses the file
extension to determine the format of the file.
For example, files with a WK1 extension will be opened and read assuming
they are in WK1 format. If a WK3 file
was renamed to have a WK1 extension, without changing the internal organization
of the file from the WK1 specification to the WK3 specification, this error
could occur. This error could also
occur if the file was damaged.
Resolution: Use
your spreadsheet software to verify that the file contents are intact. Make sure the file contents and extension are
consistent. The “file save as” dialog
box can be useful for this purpose.
E003: Out of memory
Description: The CSC requests memory from the operating system as part of
its processing. When the operating
system indicates that memory is not available in the amounts requested, this
message will be displayed and processing of the spreadsheet causing the error
will stop.
Resolution:
This message could appear when (a) the available memory on your system is already
in full use by other applications or (b) the spreadsheet is so large that it
requires more memory than is available on your system. Check for these conditions and either shut
down idle applications or adjust the size of the named range in the spreadsheet. For particularly large files, such as files
that include several worksheets and macros, it may be necessary to copy the
named range to a separate, new file. If
the problem persists, there may be problems with your system.
E004: The range _____
could not be found in the spreadsheet _____
Description: This message is applicable when the CSC is run in command
line mode and a spreadsheet and range name is specified on the command
line. This message occurs whenever the
spreadsheet could be located and read, but the range name could not be found
among the named ranges in the spreadsheet.
Incidentally, the range name is not case sensitive.
Resolution:
Open the spreadsheet, verify the name of the range, and adjust the command line
as necessary.
E005: Range is too
small
Description: The minimum range is two columns and six rows. Any fewer rows or columns would provide
insufficient data to calculate a subsidy.
Resolution: Make
sure the range is the name you intended and that it covers all rows and columns
needed for the subsidy calculation.
E006: Three-dimensional
ranges are not supported
Description: This message is applicable when the CSC
is run in command line mode and a three-dimensional range is specified on the
command line. Three dimensional ranges
are those ranges that contain cells on multiple sheets.
Resolution: Place all cash flow data in a range
that is contained on a single sheet.
E007: A
"Program type" line must precede the cash flow estimates
Description: The left-most row did not have a cell
with “program type” before the first cash flow line. (The "program type" line is used to indicate whether
the program makes direct loans or loan guarantees.)
Resolution: Insert a “program type” line.
E008: Program type (on line beginning in ___ ) must
be either "direct" or "guaranteed"
Description: As stated
Resolution: Correct
the cell to read either “direct” or “guaranteed”
E009: Quarterly
factors for _____ do not add to 100.00
Description: The quarterly factors identified by the keyword (where the
blank appears) do not add to 100.0
Resolution: Adjust
the values to add to 100.0. A simple
way to ensure that values always add to 100.0 is to make the fourth value equal
to 100.0 less the value of the other three factors.
E010: No cash flow
estimates
Description: The end of the named range was reached before any cash flows
were found. This could happen in a
couple of ways:
If you
have lines with cash flow keywords, but have all zero or empty cells, the line
will be ignored. If all cash flow lines
have only zero or empty cells, you might get this message.
If you
have a reestimate spreadsheet and the values for “cohort year” are defective or
are for years that cannot be reestimated, such cohorts will be skipped and
there will be no cash flow estimates.
Resolution: Adjust the size of the range, add cash flow lines, or (for
reestimate spreadsheets) make sure the cohort line has a correct value.
E011: Reestimate
discount rate is out of range
E011: Reestimate discount
rate has an unknown keyword
Description: The reestimate discount rate may be:
a
value in the range 0.01 to 99.0,
the
keyword “use all”, or,
the
keyword “use 90%”
If a
value is provided that is outside the range 0.01 to 99.0, the first message is
displayed. If a keyword other than the
two shown above is used, the second message is displayed.
Resolution: Check the cell containing the
reestimate discount rate and change as necessary.
E012: Upper-left
corner of range does not contain the "Name" keyword
Description: The cell in the upper-left corner of
the range must contain the “name” keyword.
If not, this message will appear.
Resolution: Make sure the range is the name you
intended and that the upper-left corner cell has this keyword.
Description: The CSC located a budget year in the spreadsheet, but the
year was invalid.
Resolution:
Replace the budget year listed in the spreadsheet with a valid year in the
range 1992 through 3000.
E014: Loan maturity
is out of range
E014: Loan maturity
has an unknown keyword
Description: Similar maturity must be in the range
0.01 to 99.0 years. When a value is
outside that range, the first message is displayed. If the cell has non-numeric content, the second message is
displayed.
Resolution: Check the cell containing the
reestimate discount rate and change as necessary.
E015: Cohorts before 1992 cannot be reestimated. Cohort skipped.
Cohort
for ____ begins in cell ____
E015: Cohorts after ____ cannot be reestimated
yet. Cohort skipped.
Cohort for ____begins in
cell ___.
Description: For reestimate spreadsheets only: The cohort line must have a year that is
1992 or later. If the year is earlier
than 1992, the first message might appear.
If the year is after the last
year for which budget assumptions are available, the second message might
appear. To determine the latest budget
assumptions available, select Actions-Select rates from the main menu and a
dialog box will appear. In the dialog
box, click the “view all rates” button and you will see all the interest rate
assumptions available.
If you believe that
additional rates should be available, you may need to update your interest rate
files from the credit support web page (www.whitehouse.gov/omb/credit).
Resolution: Correct the year on the cohort line, if
necessary.
E016: A negative value for disbursements was found
on the row beginning in cell ____.
Description: The CSC found negative
disbursements in the cash flow spreadsheet. All disbursement values must be
positive.
Resolution: Update the spreadsheet by
replacing the negative disbursements with the correct positive values.
Description: The CSC found multiple disbursement lines in at least one
cohort in the named range.
Resolution: If a cohort contains multiple disbursements
the values must be on the same line.
Description: These lines are required for reestimate spreadsheets.
Resolution: Add the missing lines.
Description: The CSC identified two lines in the cohort containing the same
type of information, but only one was associated with a disbursement period.
Resolution:
Associate the other keyword with the proper disbursement period and reload the
spreadsheet.
E020: A row, starting at ____, indicates that it
belongs to a disbursement period that does not exist
Description: The cohort contains a keyword and cash flows that are
associated with a disbursement period that does not exist. For example, the keyword “(3) interest”
associates the row with the third disbursement period. If the cohort only contains two disbursement
periods, the CSC will return an error message.
Resolution: Associate
the cash flow with the proper disbursement period. The number in the parentheses preceding the keyword cannot be
greater than the number of disbursement periods in the cohort.
E021:
Two rows, starting at ____ and ____, are the same type and are NOT
associated with a disbursement period.
They cannot be combined because the first is ____ and the second is
____.
E021:
Two rows, starting at ____ and ____, are the same type and are NOT
associated with a disbursement period.
They cannot be combined because the first has ____ within-period timing
and the second has ____.
Description: Two rows within a cohort contain the
same type of information but differ with respect to within-period timing or
periodicity. Since they are not
explicitly associated with a specific disbursement period the CSC cannot use
the cash flows.
Resolution: Associate the rows with a specific
disbursement period or combine them into a single row.
E022: Missing right square bracket on row in ____
Description: The right square bracket is missing from a keyword that
contains a left square bracket, e.g., interest [qtr, end, 2001:2.
Resolution: Add
the closing bracket, “]”.
E023: Formatting problem with year and period
specification in ____
Description: The CSC could not interpret the formatting between a set of
square brackets.
Resolution: The
following example represent the correct formatting for information inside a set
of brackets: [qtr,end,2001:3]. The CSC would interpret this to mean that
the following data would occur at the end of quarterly periods beginning with
the third quarter of fiscal year 2001.
The brackets may include information on period, timing, year, or all
three, where the period is annual, semiannual, quarterly, or monthly and
timing is beginning, middle, or end.
E024:
Disbursement line must follow obligations or commitments and precede all other
cash flow lines
Description: As stated
Resolution: Move the disbursement line in the cash
flow spreadsheet to a location that precedes all other cash flows.
E025: Spreadsheet
calls for a rate selection that does not exist. In the budget rates forecast section, rates named ____ were not
found.
Description: As
stated
Resolution: Place the correct name in
the spreadsheet or make a selection from “Actions, Rates” on the toolbar.
E026: Range not found
Description: The message occurs when a range name is provided on the command
line and that name provided is not found in the spreadsheet.
Resolution: Check the list of ranges available in the spreadsheet. Make sure the spelling of the range name on
the command line is correct. The range
name, incidentally, is not case-sensitive.
E027: The cash
flows beginning in cell ____ extend beyond 100 years
E027: The cash
flows beginning in cell ____ combined with those beginning in ____
extend beyond 100 years
Description: As stated.
Resolution: Make sure that the named range does not include columns that are
not part of the cash flow observations.
Also, check the data frequency.
If quarterly data covering 26 years (104 observations) were identified
as annual data, it would appear as 104 (rather than 26) years.
E028: The frequency
of the cash flows beginning in cell ____ has not been given
E028: The timing of
the cash flows beginning in cell ____ has not been given
Description: For each row of cash flow observation, the frequency (annual,
semiannual, quarterly, or monthly) and timing (beginning, middle, or end of
period) must be clear. Timing
information can be given on a “timing” line or in square brackets at the end of
the keyword on a cash flow line.
This error
message may arise when a timing line has provided some, but not all, of the
required information.
This error
message does not arise when timing
information is not provided. When no
information is provided, cash flow observations are assumed to be annual,
middle of period.
Resolution: Review cash flow inputs for incomplete information. For more information, see the working paper How to organize cash flow estimates in a
spreadsheet file.
E029: For
reestimate spreadsheets, cohorts must begin with the “cohort” keyword
E029: The year on
the “cohort” line must be in the range 1992 to 3000
Description: As stated.
Resolution: Add or modify the lines indicated.
Description
of the warning messages
W030: The value for
____ in cell ____ is missing.
W030: The value for
____ in cell ____ could not be interpreted.
Description: The CSC read a keyword from the spreadsheet and expected a
value.
Resolution: Add
the proper values to the cells indicated.
W031: The value for
____ in cell ____ should be one of the following:
(list of
possible values)
Description: The CSC detected an incorrect value in the spreadsheet for
the listed keyword.
Resolution:
Replace the incorrect value with one of the values listed in the warning
message.
W032: A duplicate ____ line beginning in ___ was
ignored
Description: The CSC detected an additional instance of the keyword and
ignored it.
Resolution:
Re-specify or delete the line.
W033: A
"suppress-warnings" message has a defective range of values ( start
> end)
W033: A
"suppress-warnings" message has a defective range of values (start
> 99 )
W033: A
"suppress-warnings" message has a defective range of values (end >
99 )
Description: Warning messages are numbered between one and 99. The value(s) specified in the spreadsheet
did not fall within this range (“all” or “none” are also valid values).
Resolution:
The value in the cell next to the “suppress-warnings” keyword should be changed
to read “all,” “none,” or a number between one and 99. Multiple warnings can be suppressed by
entering a range of numbers or a set of numbers separated by commas: “33-99” or “33,42,46-99.”
W034: On
the ____ line beginning in ____, some values are negative
Description: Negative values were found where
positive values were expected.
Resolution:
Under most circumstances, the cash flows associated with this keyword should be
positive. Double check the spreadsheet
formulas used to calculate this set of cash flows.
W035: On the line beginning in ____, some values are
positive
Description: Positive values were found where
negative values were expected.
Resolution: Under
most circumstances, the cash flows associated with this keyword should be
negative. Double check the spreadsheet
formulas used to calculate this set of cash flows.
W036: Total disbursements and total principal
payments differ by ____
Description: The sum of the principal payment line(s) does not equal the
total disbursement(s). This will create
an interest subsidy that is not directly related to the interest rate charged
for the loan.
Resolution:
Verify the terms of the loan. In most
cases the terms call for repayment of principal in full. Both the principal and interest lines are
unaffected by defaults, fees, etc. If
there is a shortfall in principal repayment due to default, it should be placed
on a separate default line. Likewise,
annual fees should be entered on an annual fee line (they are not additions to
principal repayments).
W037: Present value of recoveries exceeds present
value of losses due to defaults
Description: Recoveries are offsets to defaults that result from the
disposition of collateral or actions taken by the borrower to restore the loan
to good standing. In most cases the
present value of the recoveries will not fully offset the losses due to
defaults. The CSC posts a warning when
the present value of recoveries more than offsets the present value of losses
due to defaults.
Resolution: The total amount of recoveries should generally be less than the
total amount of loses. If total
recoveries exceed total losses verify that the program intended this result to
occur.
W038: Non-numeric
or invalid cell value in cell ___. Zero
used instead.
Description: Upon opening a spreadsheet, the CSC
detected a non-numeric or invalid cell value where a number was expected, e.g.,
text was found in the middle of a row containing interest payments.
Resolution:
Replace the spreadsheet cell value with a valid numeric value.
W039: Cell ____:
unrecognized keyword ( ____ )
Description: The CSC could not recognize the value found in the specified
cell. Its location in the range
indicates that the intended value was a keyword.
Resolution:
Replace the value in the cell with the proper keyword.
Description: A keyword in the spreadsheet directed the CSC to send output
directly to a file. The CSC was not
able to create or open the filename specified in the spreadsheet.
Resolution: Verify that the file path listed next to the
“output file” keyword is valid. This
warning will also occur when the specified output file is “open” in another
software program. If this is the case,
close the other instance of the output file.
Description: As stated.
Resolution: Ignore or remove the keywords.
W044:
The cohort beginning in cell A:B24 has the same year as a previous cohort
Description: As stated.
Resolution: Remove the extra cohort or change the
year listed in the cell.
W050: An exact single effective rate could not be
computed. Nearest used
Target
subsidy was............. ____
percent
Nearest
subsidy was............ ____ percent
Difference
is........................ ____ percent
Description: The single effective rate is the single interest rate that
produces the same total subsidy as was produced by the full yield curve. Warning 50 occurs when the CSC is unable an
exact single rate. Instead, the
calculator provides the rate that yields a subsidy that is as close to the
target subsidy rate as possible.
Resolution: No Resolution:
W051: Rates
for most recent budget were used because "purpose" set to
"budget"
Description: If the “purpose” is set to “budget” in the
spreadsheet and conflict resolution is set to “Use spreadsheet choices” in the
general preferences dialog box, the CSC will use budget rates regardless of the
choices made in the rate selection dialog box.
In the general preferences dialog box, if the purpose is set to “budget” and conflict resolution is set to
“Use CSC choice...” the CSC will use budget rates regardless of the choices
made in the rate selection dialog box.
Resolution: If the goal is to calculate a subsidy
under alternative rates set the purpose to “analysis” in the spreadsheet and
conflict resolution to “Use spreadsheet choices” in the CSC general preferences
dialog box. Alternatively, set conflict
resolution to “Use CSC choice...” and purpose to analysis in the general
preferences dialog box.
W055: Fatal error calculating the subsidy or creating
displays. Please try again.
If this error persists, please call
technical support.
Description: This error can arise from several system-related problems.
Resolution: Make a copy of the input spreadsheet that triggered this
message. Contact technical support and
make arrangements to send the input spreadsheet, either by email (preferred) or
by copying it to a floppy disk and arranging to have it sent to technical
support.
W057: Single
effective rate was not calculated because the average maturity of the cash flow
observations is zero or negative.
Description: The average maturity of the cash flow
observations would be zero whenever the cash flows, on average, occur at about
the same time as the disbursements. It
would be negative if, on average, cash flow observations occur before
disbursements. Either way, the single
effective rate cannot be calculated.
Resolution: Check the cash flow observations.
W058: The
reestimate discount rate ___ is outside the range of historical actuals or
assumptions. The historical low is ___
and historical high is ___.
Description: A
reestimate discount rate was supplied in a spreadsheet (normally, the
reestimate discount rate is calculated by the CSC) that was either higher
than the highest rate or lower than the lowest rate in either budget
assumptions or actual rates.
Rates outside the range of
historical actual rates or budget assumptions are allowed and may be used,
especially for analytical purposes.
This message merely advises of a possible data entry or formatting
error.
This condition does not
inhibit the calculation of the subsidy or the presentation of results.
Resolution: Verify that the rate provided as
intended. Perhaps, the rate in the
spreadsheet was provided in decimal form (e.g., 0.05 for 5 percent). If the intended reestimate discount rate
was, say, 5 percent, it should be entered in the spreadsheets as 5.00 and not
as 0.05.
