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Brought to you by the Council of the Inspectors General on Integrity and Efficiency
Federal Reports
Report Date
Agency Reviewed / Investigated
Report Title
Type
Location
Federal Deposit Insurance Corporation
In-Depth Review of the Failure of Vantage Point Bank, Horsham, Pennsylvania
We performed an assessment of the use of purchase cards in FY 2014 to determine whether there were safeguards and internal controls in place to reduce the potential risk of Illegal, improper, or erroneous purchases and payments.
ARC attempts to resolve the issue there remains open old HUD administered grants for which De-obligations should be finalized and available funds used for additional needed projects
ARC has established standardized controls to identify grants needing follow-up and actions such as cancellations, de-obligations and reduction of dormant construction grants.