SBA’s Oversight of Restaurant Revitalization Fund Recipients

Audit · Small Business Administration OIG · 2023-09-29 · about Small Business Administration

Report

Title: SBA’s Oversight of Restaurant Revitalization Fund Recipients
Submitting OIG: Small Business Administration OIG
Component agency: Small Business Administration
Type: Audit
Publication date: 2023-09-29

Summary

We reviewed the U.S. Small Business Administration’s (SBA) oversight of Restaurant Revitalization Fund (RRF) recipients. The American Rescue Plan Act of 2021 authorized SBA to administer the RRF and provided $28.6 billion to assist eligible small businesses adversely affected by the Coronavirus Disease 2019 (COVID-19) pandemic.We determined program officials developed a plan for monitoring RRF award recipients use of funds and recovering unused or improperly awarded funds.

Recommendations (6)

#	Status	Text
1	Open	Follow-up with recipients who did not submit their final annual report as required by April 30, 2023, and take action to recover funds.
2	Open	Review the 210 RRF award recipients currently marked in the PPP loan data as potentially fraudulent or ineligible that were not selected for post award review.
3	Open	Extend the record retention period and notify all RRF award recipients in writing in accordance with 2 CFR 200.334.
4	Open	Assess the post award review process and manpower requirements to ensure post award reviews are conducted in a prompt manner. Use the results of the assessment to improve processing times to ensure reviews are completed before the statute of…
5	Open	Take immediate administrative actions to recover improper payments from the 5 hotels and 18 recipients found to be ineligible, for a total of 23 ineligible award recipients identified totaling $39 million.
6	Open	Establish and implement procedures to recover unused funds or recover funds paid to ineligible recipients and prioritize this effort.

Source

Authoritative: oversight.gov report page
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