U.S. flag

An official website of the United States government Here’s how you know

The .gov means it’s official.

Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you're on a federal government site.

The site is secure.

The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.

Closed Date:
August 29, 2019

Designate an unclaimed asset recovery official as required by the Treasury Financial Manual.

Publication Report

2018-KC-0002 | August 07, 2018

HUD’s Office of the Chief Financial Officer Did Not Locate or Recover Its Funds Held by State Unclaimed Property Administrators

The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited HUD because we learned while doing unrelated audit work that funds HUD was entitled to would be turned over to a State as unclaimed property if they were not… more

Related Recommendations

Chief Financial Officer

  •  
    Status
      Open
      Closed
    2018-KC-0002-001-B
    Closed on April 22, 2020
    $1,946,286.00
    Questioned Costs

    Recommendations with questioned costs identify costs: (A] resulting from an alleged violation of a law, regulation, contract, grant, or other document or agreement governing the use of Federal funds; (B] that are not supported by adequate documentation (also known as an unsupported cost]; or (C] that appear unnecessary or unreasonable.

    Work with Treasury to identify and obtain reimbursement for FHA’s and Ginnie Mae’s portion of the $1.9 million in HUD funds that Treasury collected.

  •  
    Status
      Open
      Closed
    2018-KC-0002-001-C
    Closed on March 03, 2020
    $2,156,191.00
    Funds Put to Better Use

    Recommendations that funds be put to better use estimate funds that could be used more efficiently. For example, recommendations that funds be put to better use could result in reductions in spending, deobligation of funds, or avoidance of unnecessary spending.

    Establish and implement policies and procedures to ensure that all of its unclaimed funds are claimed and the money is appropriately routed to put $2.2 million to better use. At a minimum, these policies and procedures should address what constitutes FHA and Ginnie Mae funds, ensure that these funds are returned to FHA or Ginnie Mae as appropriate, and include policies to claim co-owned funds with any appropriate thresholds or limitations.