ABSTRACT

Coronavirus Disease 2019 Pandemic Relief Programs: Audit of the Community Development Financial Institutions Fund's Implementation of the CDFI Rapid Response Program   [open pdf - 3MB]

From the Document: "This report presents the results of our audit of the Community Development Financial Institutions (CDFI) Fund's implementation of the CDFI Rapid Response Program (CDFI RRP). Title V, Subtitle B in Division N of the 'Consolidated Appropriations Act, 2021' (CAA, 2021) authorized the CDFI Fund to provide emergency support to CDFls and communities responding to the economic impact of the Coronavirus Disease 2019 (COVID-19) pandemic. Furthermore, the Department of the Treasury's (Treasury) Office of Inspector General (OIG) is required to submit a report twice a year to Congress and Treasury on the oversight provided for the programs established under Subtitle B, including any recommendations for improvement. In accordance with this mandate, we conducted this audit. The objective of our audit was to assess the CDFI Fund's implementation activities, including making CDFI RRP funds available, and establishing policies, procedures, and other program guidance and documentation. As it relates to our audit objective, funds available indicates the announcement of a funding opportunity advertising the CDFI RRP to the public."

Report Number:
Department of Treasury, Office of the Inspector General, Report No. OIG-22-023
Publisher:
Date:
2021-12-21
Copyright:
Public Domain
Retrieved From:
Oversight.gov: https://www.oversight.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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