Anonymous ID: 47a15c July 17, 2022, 11:03 a.m. No.16751348   🗄️.is đź”—kun   >>1354

The Golden Horseshoe is a weekly designation from Just The News intended to highlight egregious examples of wasteful taxpayer spending by the government. The award is named for the horseshoe-shaped toilet seats for military airplanes that cost the Pentagon a whopping $640 each back in the 1980s.

This week's Golden Horseshoe goes to the Small Business Administration for awarding $1.49 billion in COVID-19 relief grants that did not match their budget requests, according to the agency's Office of Inspector General.

Finding that the agency's administration of grants to businesses under the COVID-19 Shuttered Venue Operators Grant program suffered from poor oversight, SBA Inspector General Hannibal "Mike" Ware questioned a large percentage of the awards.

"Approved budgets represent the financial plan for grant awards in the federal award process," notes the inspection report. "As such, it is fundamental that the applicant's approved budget reconciles with the grant award. However, in our review of SVOG grant awards, we found that SBA disbursed $1.49 billion to 1,849 SVOG recipients, 15 percent of the total, without ensuring the budgets matched the grant awards." 

The watchdog found many shuttered venues received more funds than they requested, while some received less.

 

https://justthenews.com/accountability/watchdogs/sunsba-disburses-149b-covid-19-relief-without-budget