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Brought to you by the Council of the Inspectors General on Integrity and Efficiency
FHFA’s Supervisory Standards for Communication of Serious Deficiencies to Enterprise Boards and for Board Oversight of Management’s Remediation Efforts are Inadequate
ARC uses other agencies such as USDA Rural Development, HUD, TVA and EPA (Basic Agency) to administer construction related projects. The Basic Agency is responsible for monitoring and reporting on project implementation. Basic Agency is used as terminology although the official terminology for use of other agencies by ARC is Child Agency
A review of FY 2015 applications, approvals and obligations confirmed that a significant amount of applications continued to be received and approvals and obligations processed in the final quarter.