Reports

The Office of the Special Inspector General for Pandemic Recovery is evaluating funds that were allocated to the Federal Reserve System’s Main Street Lending Program (MSLP), which had 319 lenders and 1,830 borrowers participating in loans totaling more than $17 billion. The objectives of the audit are to 1) assess the process used by banks to issue loans under the MSLP program; 2) evaluate the process used by the Federal Reserve’s Special Purpose Vehicle to purchase the loans;  3) determine vulnerabilities based on a risk-based analysis; and 4) identify specific areas that warrant further audit work.
 

A commissioned study by MITRE that identifies gaps in federal data sources and how we can close them to improve the quality of the information we provide to the public.

Correctional and detention facilities present unique challenges in preventing and controlling the spread of COVID-19. When compared to the general population, a disproportionate number of COVID-19 outbreaks and deaths occur in jails, prisons, and detention facilities across the country. The Centers for Disease Control and Prevention has noted that the confined nature of correctional and detention facilities, combined with their congregate environments, heightens the potential for COVID-19 to spread once introduced into a facility. Individuals typically eat, sleep, and participate in activities...

The Coronavirus Aid, Relief, and Economic Security (CARES) Act designated $10 billion to the Federal Aviation Administration (FAA) to support continuing operations at U.S. airports following the sharp decline in passenger traffic and other airport business due to the COVID-19 public health emergency. By the end of fiscal year 2020, FAA had obligated approximately $9.4 billion in formula grants to airports for such purposes as capital expenditures, operating expenses (including payroll and utilities), and debt payments. We are initiating this audit because the act also provided $5 million to OIG for conducting oversight of DOT projects and activities supported by CARES Act funds. Our objective is to assess whether FAA’s policies and procedures for awarding and overseeing CARES Act grants are sufficient to protect taxpayer interests.

The Office of the Special Inspector General for Pandemic Recovery is assessing the Department of the Treasury's Direct Loan Program, which provided approximately $2.7 billion through 35 loans to passenger air carriers and related businesses, cargo air carriers, and businesses critical to maintaining national security. The objectives of the audit are to 1) determine if the processes to approve loans followed requirements under Section 4003(b) of the CARES Act and other appropriate regulations and guidance and 2) evaluate Treasury’s Direct Loan Program loan portfolio management process and determine whether it follows best practices established by the Office of the Comptroller of the Currency or other appropriate authority. As part of this effort, SIGPR is partnering with the Department of Defense OIG in reviewing the loans that were issued in the interest of national security. 
 

The PRAC and pandemic OIGs identified the possibility of recipients receiving funding from multiple federal programs for the same purpose ( multi-dipping When a recipient receives money from multiple federal sources and uses it for the same purpose, this could be an indication of multi-dipping. ) as a high risk area. This project will focus on funds received by tribal governments, and result in an information brief that identifies programs where multi-dipping When a recipient receives money from multiple federal sources and uses it for the same purpose, this could be an indication of multi-dipping. has occurred in CARES Act programs allowing us to identify and scope the magnitude of the risk.