Supervised Bank Accounts and Multi-Housing Reserve Funds

摘要

The Farmers Home Administration (FmHA) amends its regulations to require Multi-Family Housing (MFH) reserve accounts be subject to countersignature by an Agency official before funds can be withdrawn. Internal Agency reviews and audits conducted by the Office of the Inspector General (OIG) indicate reserve funds are being improperly used. The intended effect of this action is to curtail reserve fund abuses.