FSA Payments $1.2 Billion Less Than Expected in 2012

By CnAgri2012-10-19 20:12:17 Print

Outlays from USDA's Farm Service Agency programs were $1.2 billion lower than expected in fiscal year 2012, the Treasury Department and Office of Management and Budget reported late last week.

The figure came as part of a review of overall income and spending by the federal government during its 2012 fiscal year, which ended Sept. 30.

The difference in FSA outlays was attributed to 'lower commodity marketing loan-making and higher loan repayments than anticipated, due to higher-than-estimated crop prices.'

FSA also paid out less for 2010 disaster assistance than anticipated. The overall federal budget抯 deficit in 2012 was $1.089 trillion, $207 billion less than 2011.