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What did the GAO find?
Consolidated Benefits Act 2022 At the request of members of Congress, $83 million was provided to the Small Business Administration (SBA) for 128 projects. The Act includes specific provisions that determine the amount of funds to be allocated to a specific recipient for a specific project. These provisions are called “congressional appropriations” in the US Senate and “community project funds” in the House of Representatives.
The GAO stated, among other things, information about the intended use of these funds, the designated recipients, and the availability of funds to recipients while the SBA waits.
The intended use of these funds It is to support small businesses through various projects, including business incubators and resource centers.
The designated recipients of these funds They are mostly higher education organizations and other non-profit organizations. The remaining recipients are tribal, state, regional and local governments. Funding ranges from $50,000 to $3 million, with most projects receiving less than $1 million.
The SBA plans to disburse funds to all recipients by the end of September 2022 And recipients can claim up to 5 years to spend the money.
Why did the GAO do this study?
The Joint Explanatory Memorandum accompanying the Consolidated Appropriations Act of 2022 includes a provision for GAO to review agencies’ community project funding/congressionally directed expenditures.
For more information, contact William B. Shear at (202) 512-8678 or shearw@gao.gov.
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