Today, U.S. Department of Housing and Urban Development (HUD) announced its plan to appoint a Federal Financial Monitor to oversee the disbursement of disaster recovery dollars to Puerto Rico.
“Given the Puerto Rico government’s alleged corruption, fiscal irregularities and mismanagement, we will appoint a Federal Financial Monitor to oversee the disbursement of all HUD disaster recovery funds,” said Secretary Ben Carson. “The Federal Financial Monitor’s guidance, coupled with our new, improved financial controls, will ensure recovery funds get to the people who need them most and protect taxpayers who are footing the bill.”
The Federal Financial Monitor will have extensive legal, accounting, construction management and audit oversight experience and be tasked with ensuring the efficient, effective, and accountable use of funds by:
- Leading a special post-disaster team in San Juan, Puerto Rico;
- Oversight of all Puerto Rico disaster recovery funds previously awarded and to be awarded in the future by HUD;
- Taking immediate action to prevent, detect and stop any waste, fraud, and abuse;
- Implementing real-time monitoring to federal flow-of-funds and financial controls; and
- Ensuring taxpayer dollars designated for recovery help people in need and are not wasted through corruption or mismanagement.