FEMA Prematurely Obligated $478 Million in Public Assistance Funds from FY 2017 Through FY 2019 [open pdf - 2MB]
From the Highlights: "In 2012, FEMA implemented SFM [Strategic Funds Management] to improve Disaster Relief Fund resource management to meet present and future disaster funding requirements. SFM focuses on obligating estimated Public Assistance project funding based on subrecipients' capacity, resources, and schedule to execute the work. We conducted this audit to determine to what extent FEMA's use of its SFM initiative ensures that funds are obligated in accordance with Federal, Department, and component requirements."
Department of Homeland Security, Office of Inspector General, Report No. OIG-21-54
Department of Homeland Security Office of Inspector General: https://www.oig.dhs.gov/