WASHINGTON - The General Accounting Office has given a favorable evaluation of the Resolution Trust Corp.'s 1991 financial statements.
A year earlier, the congressional investigative arm had said the RTC's finances and internal management were in such disarray that it could not render an opinion on how the agency was spending its money.
Albert Casey, who became RTC chairman last October, focused on tidying up the accounting, recordkeeping, and control systems.
They earned praise from the GAO, which said the financial statements fairly represent the agency's 1991 financial condition.
New Funding Stalled
But GAO said it was unable to verify whether RTC was recovering as much as it could from contractors handling thrifts in receivership due to weak oversight of certain loan servicers.