Reports
Treasury Has Been Effective at Shifting the Hardest Hit Fund To Assist Homeowners Suffering Pandemic-Related Hardships, Efforts That Could Be Further Enhanced
Risk of Closed Institutions of Higher Education Receiving Higher Education Emergency Relief Fund Grants
Higher Education Emergency Relief Fund Reporting Requirements
Audit of FAA's Award and Oversight of CARES Act Funds
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.
Assessment of the Department’s Reconstitution Plans Following COVID-19
Challenges for Consideration in Implementing and Overseeing the CARES Act
Memorandum to the Secretary: Key Potential Risk Areas for the Department of Transportation in Overseeing CARES Act Requirements
SIGTARP Recommends Treasury Put to Better Use Unspent Funds in Tarp to Enhance Existing Unemployment Mortgage Assistance Through Hardest Hit Fund in Light of Recent Significant Unemployment
Evaluation of the Hardest Hit Fund Status and Wind Down Planning
Treasury reports that the Hardest Hit Fund is in a wind down status. SIGTARP will evaluate the status of the program, and Treasury’s planning of the program’s wind down. This will include, for example, TARP dollars remaining to be spent by state agencies, as well as current and estimated future program activity. It will also review Treasury’s direction and guidance to state agencies for wind down planning, and the state agencies’ response.