Department of the Treasury OIG OIG-CA-25-045 (Termination Memorandum – Audit of the Department of the Treasury's Pre-award Process for the State Small Business Credit)
Summary
Department of the Treasury Office of Inspector General memorandum OIG-CA-25-045, dated May 22, 2025, signed by Pauletta P. Battle and addressed to Gregory Till of the Office of Capital Access. It terminates audit S-SC-23-008 of Treasury's pre-award process for State Small Business Credit Initiative funds of approximately $500 million for technical assistance to states, U.S. territories, and tribal governments, covering March 2021 to March 2023. After pausing the audit for other pandemic-related programs, the office reviewed the GAO reports issued in February 2023 and June 2024. It found considerable overlap of audit objectives and states that the audit will be removed from its Monthly Status Report.
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“Department of the Treasury OIG OIG-CA-25-045 (Termination Memorandum – Audit of the Department of the Treasury's Pre-award Process for the State Small Business Credit).”
Original at www.oversight.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/department-of-the-treasury-oig-oig-ca-25-045-termination-memorandum-au-9f4f3f5aea/
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DEPARTMENT OF THE TREASURY
W ASHINGTON, D.C. 20220
OFFICE OF
INSPECTOR GENERAL
May 22, 2025
OIG-CA-25-045
MEMORANDUM FOR GREGORY TILL
ACTING CHIEF PROGRAM OFFICER, OFFICE OF CAPITAL
ACCESS
FROM: Pauletta P. Battle /s/
Acting Assistant Inspector General for Audit
SUBJECT: Termination Memorandum – Audit of the Department of the
Treasury's Pre-award Process for the State Small Business
Credit Initiative (SSBCI) Program Funds for Technical
Assistance to States, U.S. Territories, and Tribal
Governments (S-SC-23-008)
In January 2023, we initiated an audit of the Department of the Treasury’s
(Treasury) Pre-Award Process for the SSBCI Program Funds for Technical
Assistance to States, U.S. Territories, and Tribal Governments. Our objective was
to assess Treasury's administration of the pre-award process for SSBCI's program
funds of approximately $500 million for technical assistance to states, U.S.
territories, and tribal governments. The scope of our audit included all pre-award
activities relating to the approval of SSBCI program funds for technical assistance
to states, territories, and tribal governments from March 2021 to March 2023. This
audit was included in our annual plan for fiscal year 2024. Shortly after issuing our
engagement letter, our office temporarily paused this audit and focused on other
pandemic-related programs created under the Coronavirus Aid, Relief, and
Economic Security Act, 1 passed on March 27, 2020; and the American Rescue Plan
Act of 2021, enacted on March 11, 2021. 2 During several meetings with the
Government Accountability Office (GAO), we learned that GAO was conducting
two audits of the SSBCI program and that their audit reports were scheduled to be
issued in February 2023 and June 2024, respectively.
1
P.L. 116-136 (March 27, 2020)
2
P.L. 117-2 (March 11, 2021)
Page 2
In February 2023, GAO issued the first of the two audit reports. 3 In its report,
GAO evaluated Treasury’s implementation of the SSBCI, reauthorized by the
American Rescue Plan Act of 2021. Specifically, GAO examined
(1) jurisdictions’ planned use of SSBCI funds to meet program objectives,
(2) Treasury’s completion of key implementation steps for SSBCI, and
(3) Treasury’s efforts to manage program risks and measure program
performance.
In June 2024, GAO issued the second of the two audit reports. 4 In its report,
GAO examined (1) Treasury’s disbursement of SSBCI funds and the status of
the Minority Business Development Agency’s grant awards; (2) Treasury’s
management of time frames for remaining implementation steps;
(3) Treasury’s efforts to ensure compliance with program requirements; and
(4) Treasury’s efforts to measure and report on program performance.
Based on our review of the GAO reports of the SSBCI program and after
additional discussions with GAO about its level of review performed on these two
audits, we determined that there is considerable overlap of audit objectives for
our audit and GAO’s audits. Therefore, we believe that it is redundant to devote
resources to conduct an audit of Treasury’s Pre-Award Process for the SSBCI
Program Funds for Technical Assistance to States, U.S. Territories, and Tribal
Governments. Accordingly, we are terminating this audit. Please note that the
Audit of the Department of the Treasury‘s (Treasury) Pre-award Process for the
State Small Business Credit Initiative Program Funds for Technical Assistance to
States, U.S. Territories, and Tribal Governments (S-SC-23-008) will be removed
from our Monthly Status Report.
We appreciate the courtesies and assistance provided by your staff. If you have
any questions, please contact me at (202) 927-5400 or Dianna Jones, Director,
SSBCI, at (202) 997-4491.
cc: Jeffrey Stout, Deputy Chief Program Officer for Small Business and
Community Investment Programs, Office of Capital Access, Treasury
Michelle A. Dickerman, Deputy Assistant General Counsel Litigation,
Oversight, and Financial Stability, Treasury
Amanda Shulak, Attorney Advisor, Banking and Finance, Office of the
General Counsel, Treasury
3
GAO, State Small Business Credit Initiative: Improved Planning Could Help Treasury Limit Additional Delays,
GAO-23-105293, (February 2023)
4
GAO, State Small Business Credit Initiative: Treasury Made Progress on Disbursements and Improvements to
Project Scheduling, GAO-24-106671, (June 2024)
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