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Special Inspector General for Pandemic Recovery — audit reports and memoranda

Special Inspector General for Pandemic Recovery — audit reports and memoranda — 35 documents in the archive, dated July 31, 2020 to December 16, 2024.

Case facts

CourtSpecial Inspector General for Pandemic Recovery (SIGPR) (2 filings); Special Inspector General for Pandemic Recovery (2 filings)
Filings35 public filings
Filed2020-07-31 – 2024-12-16
Original PDFs35 of 35

Case summary

This page collects four documents of the Office of the Special Inspector General for Pandemic Recovery, the CARES Act inspector general for Treasury's Title IV lending, listed between July 31, 2020 and May 24, 2022. They are an implementation review memorandum dated July 28, 2020 addressed to Treasury's Under Secretary for International Affairs; the May 19, 2021 notice closing that review, numbered I-21-001; the Fiscal Year 2022 Audit Plan, Report Number SIGPR-A-21-004 of September 29, 2021; and Alert Memorandum SIGPR-A-22-002-1 of May 24, 2022 on delays in quarterly monitoring of borrowers' compliance with loan requirements. All four concern loans made under section 4003 of the Coronavirus Aid, Relief, and Economic Security Act, and all are addressed to Treasury officials rather than to a court.

Case at a glance

PartiesIssuing body: Office of the Special Inspector General for Pandemic Recovery, Office of Audits. The memoranda are addressed to the U.S. Department of the Treasury: the Under Secretary for International Affairs in 2020 and the Chief Recovery Officer in 2021 and 2022
Court and docketAgency documents, no docket. Report numbers I-21-001, SIGPR-A-21-004 and SIGPR-A-22-002-1
ProgramCARES Act section 4003 lending: Treasury's Direct Loan Program, the Federal Reserve Bank of Boston's Main Street Lending Program, and the Federal Reserve Bank of New York's Municipal Liquidity Facility, Term Asset-Backed Securities Loan Facility, Primary Market Corporate Credit Facility and Secondary Market Corporate Credit Facility
ClaimsNot applicable. These are an implementation review, a closing notice, an annual audit plan and an alert memorandum
Disposition or statusThe July 2020 recommendation was closed as implemented on May 19, 2021. The May 2022 alert memorandum was issued while audit A-22-002 was still under way
Status checked2026-09-23 · against DOJ press releases through 2026-09-22; court docket not yet read

What did the 2020 review recommend?

That Treasury expressly include the Special Inspector General for Pandemic Recovery among the entities entitled to timely and unrestricted access to borrower information in all loan agreements under section 4003 of the CARES Act. The first such loan agreement, dated July 7, 2020, named Treasury and the Treasury Inspector General but not SIGPR.

Was the recommendation carried out?

Yes. Treasury agreed on July 30, 2020, and the implementation review found that in the 34 loan agreements signed after that response Treasury expressly included SIGPR in the section titled "Treasury Access." SIGPR determined that no further action was necessary.

What does the 2022 alert memorandum report?

That Treasury had not conducted timely monitoring of section 4003(b)(1)-(3) loans for the first three quarters of calendar year 2021, with no evidence of monitoring between July 2021 and March 7, 2022, when SIGPR raised the point with Treasury officials by email.

Docket

35 documents, in date order.

Documents

  1. Implementation Review: Loan Agreements Need to Provide for Appropriate SIGPR Access (July 2020)
  2. Implementation Review I-21-001 — Loan Agreements SIGPR Access Clause (May 2021)
  3. Addendum — Alert Memorandum: Caribbean Sun Airlines Survey Non-Response (SIGPR-A-21-001-1)
  4. Addendum — Alert Memorandum: Caribbean Sun Airlines Non-Compliance (SIGPR-A-21-002)
  5. Direct Loan Program Survey Results (SIGPR-A-21-003)
  6. Fiscal Year 2022 Audit Plan (SIGPR-A-21-004)
  7. Main Street Lending Program Survey Results (SIGPR-A-22-001)
  8. SIGPR-A-22-003-1 — Independent Review: Frontier Airlines Validation Memo (March 2022)
  9. SIGPR-A-22-003-2 — Independent Review: American Airlines Validation Memo (March 2022)
  10. SIGPR-A-22-003-3 — Independent Review: Alaska Airlines Validation Memo (March 2022)
  11. SIGPR-A-22-003-4 — Independent Review: JetBlue Airways Validation Memo (April 2022)
  12. SIGPR-A-22-003-5 — Independent Review: Hawaiian Airlines Validation Memo (May 2022)
  13. Alert Memorandum: Delays in Quarterly Monitoring of CARES Act Borrower Compliance (SIGPR-A-22-002-1)
  14. SIGPR-A-22-003-6 — Independent Review: SkyWest Airlines Validation Memo (June 2022)
  15. SIGPR-A-22-003-7 — Independent Review: United Airlines Validation Memo (June 2022)
  16. SIGPR-A-22-003-8 — Independent Review: Map Large Validation Memo (July 2022)
  17. SIGPR-A-22-003-9 — Independent Review: Mesa Airlines Validation Memo (August 2022)
  18. SIGPR-A-22-003-10 — Independent Review: Meridian Rapid Defense Group Validation Memo (Aug 2022)
  19. SIGPR-A-22-003-11 — Independent Review: Republic Airways Validation Memo (September 2022)
  20. SIGPR-A-22-003-12 — Independent Review: SpinLaunch Validation Memo (September 2022)
  21. SIGPR-A-22-003-13 — Independent Review: Caribbean Sun Airlines Validation Memo (Oct. 2022)
  22. SIGPR-A-22-003-14 — Independent Review: Ovation Travel Group Validation Memo (Dec. 2022)
  23. SIGPR-A-22-003-15 — Independent Review: Timco Engine Center Validation Memo (Dec. 2022)
  24. SIGPR-A-22-003-16 — Independent Review: Eastern Airlines Validation Memo (January 2023)
  25. Roll-up of Independent Review of 4003(b) Loan Recipients' Validation Memos (SIGPR-A-22-003-17)
  26. Interim Report: MSLP Loan Losses' Effect on Treasury's Investment (SIGPR-A-23-002-2)
  27. Audit of U.S. Treasury's Direct Loan to YRC Worldwide, Inc. (SIGPR-A-22-005)
  28. Interim Report No. 3: MSLP Loan Losses with Loan Loss Comparison (SIGPR-A-23-002-3)
  29. Weaknesses in Treasury's CARES Act Loan Monitoring (SIGPR-A-22-002-2)
  30. Interim Report No. 4: MSLP Loan Losses and Federal Reserve Subpoena (SIGPR-A-23-002-4)
  31. Audit of Direct Loan Program Recipient — Mesa Airlines, Inc. (SIGPR-A-22-006)
  32. Interim Report No. 5: MSLP Losses and Fraud Investigation Link (SIGPR-A-23-002-5)
  33. Interim Report No. 6: MSLP Losses Surge to $572M as Principal Payments Hit (SIGPR-A-23-002-6)
  34. Audit of National Security Loan Program Recipient — MapLarge, Inc. (SIGPR-A-23-003)
  35. Audit Memorandum: MSLP Loan Losses' Effect on Treasury's Investment (SIGPR-A-23-002-7)

Court, dates and docket numbers are as recorded on the filings.

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