Louisiana Should Monitor $39.8 Million of FEMA Funds Awarded to Pontchartrain Housing Corporation I to Ensure Compliance with Federal Regulations

Our audit objective was to determine whether the Corporation accounted for and expended Federal Emergency Management Agency (FEMA) grant funds according to Federal regulations and FEMA guidelines. Although it has been almost 9 years since Hurricane Katrina, the Corporation has not spent the majority of its funding. Therefore, we expanded our audit objective to determine whether its policies, procedures, and business practices are adequate to properly account for and expend FEMA grant funds. Our goal was to identify areas where the Corporation may need additional technical assistance or monitoring to correct noncompliance with Federal regulations before it spends the majority of its funding