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Economic Development (21 - 30 of 3,033 items)
Hurricane Sandy: An Investment Strategy Could Help the Federal Government Enhance National Resilience for Future Disasters
GAO-15-515: Published: Jul 30, 2015. Publicly Released: Jul 30, 2015.
During the Hurricane Sandy Recovery, five federal programs—the Federal Emergency Management Agency's (FEMA) Public Assistance (PA), Hazard Mitigation Grant Program (HMGP), the Federal Transit Administration's Public Transportation Emergency Relief Program, the Department of Housing and Urban Development's Community Development Block Grant-Disaster Recovery, and the U.S. Army Corps of Engineers'...
Small Business Administration: Additional Steps Needed to Help Ensure More Timely Disaster Assistance
GAO-15-727T: Published: Jul 8, 2015. Publicly Released: Jul 8, 2015.
Following Hurricane Sandy, the Small Business Administration (SBA) did not meet its timeliness goal (21 days) for processing business loan applications. From receipt to loan decision, SBA averaged 45 days to process physical disaster loans and 38 days for economic injury loans. SBA did not expect early receipt of a high volume of loan applications, and delayed increasing staffing—which in turn i...
Community Development Capital Initiative: Status of the Program Investments and Participants
GAO-15-542: Published: May 5, 2015. Publicly Released: May 5, 2015.
As of March 31, 2015, 64 of the 84 participating banks and credit unions remained in the Community Development Capital Initiative (CDCI), and 80 percent of the Department of the Treasury's (Treasury) $570 million total investment remained outstanding. Treasury's most recent estimated lifetime cost of the program—the present value of all program outflows and inflows—was $100 million, an amount...
Budgeting for Disasters: Approaches to Budgeting for Disasters in Selected States
GAO-15-424: Published: Mar 26, 2015. Publicly Released: Apr 27, 2015.
The 10 selected states in GAO's review—Alaska, California, Florida, Indiana, Missouri, New York, North Dakota, Oklahoma, Vermont, and West Virginia—had established budget mechanisms to ensure the availability of funding for the immediate costs of unforeseen disasters and the ongoing costs of past disasters. All 10 states provided disaster funds at the start of the fiscal year and then as neede...
Denali Commission: Options Exist to Address Management Challenges
GAO-15-72: Published: Mar 25, 2015. Publicly Released: Mar 25, 2015.
The Denali Commission has faced two key challenges in fulfilling its statutory purpose of providing, among other things, infrastructure and economic development services to rural communities; but options exist to address them. First, a 90 percent decrease in Commission funding from its peak in fiscal year 2007 has raised concerns about whether the Commission can sustain its current approach as pri...
Disaster Relief: Agencies Need to Improve Policies and Procedures for Estimating Improper Payments
GAO-15-209: Published: Feb 27, 2015. Publicly Released: Feb 27, 2015.
The five agencies GAO reviewed used a variety of approaches to estimate and report improper payments related to Disaster Relief Appropriations Act, 2013 (DRAA) funding, in accordance with Office of Management and Budget (OMB) guidance. Specifically, these agencies, which received approximately 94 percent of the $50 billion provided by DRAA, used various approaches regarding the following:Estimate...
Flood Insurance: Status of FEMA's Implementation of the Biggert-Waters Act, as Amended
GAO-15-178: Published: Feb 19, 2015. Publicly Released: Feb 19, 2015.
The Federal Emergency Management Agency (FEMA) has established some practices for managing its implementation of required changes under the Biggert-Waters Flood Insurance Reform Act (Biggert-Waters Act), as amended by the Homeowner Flood Insurance Affordability Act (HFIAA). Consistent with related federal internal control standards, FEMA has collaborated with stakeholders on prioritizing legislati...
African Growth and Opportunity Act: Eligibility Process and Economic Development in Sub-Saharan Africa
GAO-15-300: Published: Feb 12, 2015. Publicly Released: Feb 12, 2015.
The U.S. government uses the annual eligibility review process required by the African Growth and Opportunity Act (AGOA) to engage with sub-Saharan African countries on their progress toward economic, political, and development reform objectives reflected in AGOA's eligibility criteria. Managed by the Office of the United States Trade Representative, the review process brings together officials fr...
Federal Emergency Management Agency: Opportunities Exist to Strengthen Oversight of Administrative Costs for Major Disasters
GAO-15-65: Published: Dec 17, 2014. Publicly Released: Dec 17, 2014.
The Federal Emergency Management Agency (FEMA) obligated $12.7 billion from the Disaster Relief Fund (DRF) for its administrative costs from fiscal years 2004 through 2013 and has taken some steps to reduce and better control these costs. This $12.7 billion represents 13 percent of the $95.2 billion obligated from the DRF for the 650 major disasters declared during this time frame. FEMA's average...
Hurricane Sandy: FEMA Has Improved Disaster Aid Verification but Could Act to Further Limit Improper Assistance
GAO-15-15: Published: Dec 12, 2014. Publicly Released: Dec 12, 2014.
By implementing new controls since the mid-2000s, the Federal Emergency Management Agency (FEMA) improved its ability to detect improper and potentially fraudulent payments, but GAO identified continued weaknesses in the agency's validation of Social Security numbers, among other things. As of August 2014, FEMA stated that it had provided over $1.4 billion in Hurricane Sandy assistance through its...