HUD management: status of actions to resolve serious internal control weaknesses: the Secretary of Housing and Urban Development

Original publisher: Washington, D.C. (P.O. Box 37050, Washington 20013) : The Office, [2000]. LC Number: HT167.2 .U54 2000a OCLC Number: (OCoLC)45422181 Excerpt: ... Other major accomplishments we identified that HUD made in addressing the eight material weaknesses from March 1999 through May 18, 2000, include the following: • For the multifamily property monitoring and early warning weaknesses, HUD developed a standardized physical inspection process for multifamily properties and substantially completed physical inspections − of its multifamily housing inventory 28,306 inspections of multifamily properties had been completed as of May 18, 2000. • For the HUD resource management weakness, HUD accepted a study by the National Academy of Public Administration ( NAPA ) on its resource estimation practices that resulted in a resource estimation and allocation methodology that HUD plans to implement over the next 18 months. • For the HUD and FHA resource management weaknesses, HUD selected single-family management and marketing contractors that began to manage and sell HUD's inventory of homes. Despite some problems, the number of sales of single-family properties increased, and the net 10 recovery from those sales rose from 79.7 percent to 80.2 percent. • HUD assigned responsibility for the income verification material weakness to its Real Estate Assessment Center ( REAC ) and began a large-scale computer matching effort using federal income tax data. Public housing authorities ' rate of reporting tenant information to HUD's Multifamily Tenant Characteristic System ( MTCS ) database also improved, rising from 64 percent to 90 percent, partly because of increased monitoring of the housing authorities ' reporting. This information on tenants is essential for the income-matching project. HUD's Inspector General did not separately report two material weaknesses on HUD's and FHA's management of resources as material weaknesses in its fiscal year 1999 reports. Instead,...