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Date Issued
Submitting OIG
Federal Reserve Board & CFPB OIG
Agencies Reviewed/Investigated
Board of Governors of the Federal Reserve System
Report Number
2025-FMIC-B-007
Report Type
Audit
Agency Wide
Yes
Number of Recommendations
3
Questioned Costs
$0
Funds for Better Use
$0
Report updated under NDAA 5274
No
External Link
https://oig.federalreserve.gov/reports/board-travel-card-program-may2025.htm

Open Recommendations

This report has 3 open recommendations.
Recommendation Number Significant Recommendation Recommended Questioned Costs Recommended Funds for Better Use Additional Details
1 No $0 $0

Update the Travel policy to
a. clarify acceptable lodging rates and the circumstances in which acceptable lodging rates may be exceeded.
b. detail expectations for combining business and personal travel, including documenting a cost comparison.
c. clarify the circumstances in which employees may book airfare outside the travel system.
d. establish an expectation that the traveler contact the Travel section and document a business travel–related reason for unblocking a merchant category code.

2 No $0 $0

Establish preventive and detective controls to help ensure compliance with the Travel policy and U.S. General Services Administration SmartPay Program requirements, including
a. assessing and updating the travel authorization and voucher review process to better ensure compliance with the Travel policy.
b. implementing a required government travel card training program.
c. reviewing and blocking additional non-travel-related merchant category codes that do not appear to relate to Board business activities.
d. fully implementing automated travel system controls to alert employees of, notify the Travel section of, or prevent certain types of airfare and hotel reservations that do not comply with the Travel policy.
e. using government travel card issuer and custom reports that display all transactions, summarize spending by merchant category code, and highlight delinquent accounts and accounts carrying balances to identify employee misuse of the government travel card and accounts not paid timely and completely.
f. using data mining tools provided by the government travel card issuer that can help identify transactions made on dates and times that deviate from normal government accountholder spending patterns and monitor individual charges and transactions.
g. using the government travel card issuer report that identifies instances in which the Board paid state sales tax and determining whether to use the government travel card issuer to recoup that state sales tax.

3 No $0 $0

Establish routine monitoring for government travel card misuse and delinquent accounts and enforce Travel policy requirements for employee government travel card responsibilities.

Federal Reserve Board & CFPB OIG

United States