Farmers Home Administration: Federally Acquired Farm Property Presents a Management Challenge

摘要

The Department of Agriculture's (USDA) Farmers Home Administration (FmHA) has become one of the largest farm landlords in the United States. The estimated number of farm properties in FmHA's inventory increased from less than 300 in December 1979 to about 4,000--valued at almost $700 million--in October 1985. The combined acreage of these properties is greater than the land area of Rhode Island. The Chairman, Subcommittee on Agriculture and Related Agencies, Senate Committee on Appropriations, and five other Senators asked GAO to review this situation. Specifically, GAO addressed the following questions: Why has the dramatic increase occurred; What is the financial impact on the government; How well is FmHA managing these properties. To answer these questions, GAO reviewed 206 FmHA farm inventory properties in six states (including 77 that had been sold) and projected the results to a universe of 1,270 properties in those states.