RMA, in its role overseeing the Federal Crop Insurance Corporation (FCIC), is subject to a stand-alone audit of the FCIC/RMA Financial Statements which is conducted by the OIG annually (beginning in 2015).
Results of these audits have produced an unqualified audit opinion since 1988.
In addition to the RMA/FCIC stand-alone audit, RMA also contributes to USDA Financial Statements and Government-Wide Financial Statements:
Note: These links will take you off the RMA Web site. Although we make every effort to link to quality sites, RMA is not responsible for the content or privacy policies used by non-federal government Web sites. RMA does not endorse any products, private or public, available on these sites.
Costs and Outlays
Government Cost Tables
Government cost for the Federal crop insurance program for the past 10 years are summarized in the following tables.
- The Crop year (CY) government cost tables summarize the costs by crop year (usually defined by the year the commodity is harvested).
The Fiscal year (FY) government cost table summarizing the costs by the Federal Government Fiscal year (October 1–September 30) is available upon request.
FCIC/RMA financial statements are based an accrual basis of accounting which is different than cash basis. Expense or revenue may be accrued in one period; however the cash is not disbursed or collected until the following period. Outlays are equal to cash disbursements. Net outlays are outlays (disbursements) less collections.
Note: For weekly updates, please see the Summary of Business.