Audit of Federal Crop Insurance Corporation: Fiscal Year 1974 : Report to the Congress [on The] Department of Agriculture by the Comptroller General of the United States |
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$12 million 11 crops 1973 Indemnities Accrued annual leave administrative expense paid Administrative fund deficit Agricultural Stabilization audit authorizes FCIC citrus COMPTROLLER Congress Conservation Service CORPORATION COMPARATIVE STATEMENT cost of loss Crop Insurance Act CROP INSURANCE CORPORATION crop year 1973 Department of Agriculture direct cost expense for fiscal expenses from premium FCIC prepared FCIC's history Federal Crop Insurance financial statements fiscal year 1974 income and expense individual commodity insurance industry member INSURANCE CORPORATION COMPARATIVE insurance losses insurance operations insured crops INVESTMENT OF U.S. June 1973 Present June 30 leave earnings charged loss adjustment loss or income Loss ratio ratio notes to financial operating and administrative paid from premium Premium income applied premiums or indemnities Public Law Puerto Rico reserve for surety SCHEDULE SECRETARY OF AGRICULTURE services and benefits sources and application Soybean Stabilization and Conservation statement of income sugarcane surety losses Total operating Treasury U.S. General Accounting U.S. Government
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Page 15 - Administration, audit and investigative services provided by the Office of the Inspector General of the Department of Agriculture, legal services rendered by the Departments of Agriculture and Justice, and disbursing services furnished by the Treasury Department. The Corporation is not required to pay interest...
Page 1 - Board') subject to the general supervision of the Secretary of Agriculture. The Board shall consist of the manager of the Corporation, two other persons employed in the Department of Agriculture, and two persons experienced in the insurance business who are not otherwise employed by the Government. The...
Page 1 - INTRODUCTION The Federal Crop Insurance Corporation (FCIC) , a wholly owned Government corporation, was created in 1938 to promote the national welfare by providing crop insurance to improve the economic stability of agriculture . FCIC also provides the research and experience needed to develop this insurance. FCIC insures crops against practically all causes of loss, including weather, insect infestation, and plant disease.
Page 12 - Crop Apple Barley Bean Cherry Citrus Combined crop Corn Cotton Flax Grain sorghum Grape Oat Pea, dry Pea, green Peach...
Page 14 - Premium income applied to operating and administrative expenses Total DEDUCT NET APPROPRIATIONS: Appropriations Less lapses, recisions, and net transfers Net appropriations Administrative fund deficit (sch.
Page 11 - Total funds provided FUNDS APPLIED: Cost of indemnities Reinsurance commissions and claims Cost of loss adjustment Operating and administrative expenses: Charged to appropriated funds Charged to insurance funds Increase in prior years...
Page 4 - OPERATING AND ADMINISTRATIVE EXPENSES FCIC's comparative statement of income and expense for fiscal years 1974 and 1973 (sch.