Internal Audit Shows HUD Following Recovery Act Requirements
HUD's Financial Audits Division performed an audit of the agency's formula-based allocations related to five programs funded in the American Recovery and Reinvestment Act of 2009. The five programs audited were: (1) Public Housing Capital Fund; (2) Native American Housing Block Grant Program; (3) Community Development Fund; (4) HOME Investment Partnerships Program; and (5) Homelessness Prevention Fund.
The audit was required by the Recovery Act mandate that “every taxpayer dollar spent on economic recovery be subject to unprecedented levels of transparency and accountability.” Auditors sought to determine whether HUD complied with the Recovery Act in calculating and allocating the funds to HUD recipients. They found that HUD allocated the $7.96 billion in formula-based grant funds in accordance with the requirements of the Recovery Act for each of the five programs and properly calculated the amounts to be distributed to HUD recipients.