Lessons Learned

The PRAC works with dozens of IGs across the federal government to oversee pandemic relief funds. These collaborative efforts have led to several lasting insights, which we outline here in our Lessons Learned Report—a living document that we’ll update as we continue our mission.

S. Hrg. 113495: ONE YEAR LATER: EXAMINING THE ONGOING RECOVERY FROM HURRICANE SANDY; 11/2013, the written testimony outlines on pages 6 - 8 (under subheading Coordination and subheading Challenges) issues around the lack of centralized reporting, the use of National Interest Action Codes for disaster contract spending, and the lack of similar coding for grant funding

Crisis and Response: An FDIC History, 2008-2013 reviews the experience of the FDIC during a period in which the agency was confronted with two interconnected and overlapping crises -- first, a financial crisis in 2008 and 2009, and second, a banking crisis that began in 2008 and continued until 2013.

Federal Spending Accountability: Preserving Capabilities of Recovery Operations Center Could Help Sustain Oversight of Federal Expenditures, a congressionally requested GAO report regarding the Department of the Treasury's decision not to invoke the section of the DATA Act which would have transferred the assets of the RAT Board Recovery Operations Center to the Department of the Treasury

Acquisition, Development, and Construction (ADC) Loan Concentration Study (October 2012). The FDIC OIG evaluated FDIC-supervised institutions with significant ADC loan concentrations that did not fail during the economic downturn. We identified the factors that helped these banks mitigate the risks associated with ADC concentrations during periods of economic stress.

On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Among its provisions, the CARES Act provided the U.S. Department of the Interior (DOI) with $756 million to support the needs of DOI programs, bureaus, Indian Country, and the Insular Areas. The DOI will award most of its CARES Act funding through contracts and financial assistance

The DOI will award most of its CARES Act funding to Indian Country through grants to the Bureau of Indian Affairs (BIA) and the Bureau of Indian Education (BIE). Of the $756 million, $522 million (69.0 percent) will be funded to Indian Country. As of June 13, 2020, $419,462,721, or 80.4 percent, had been obligated. These emergency response awards from the DOI–together with more than $8.7 billion