ROM 11-01 - Improper Allotment of Recovery Act Apportionments

Attached is the Management Letter issued by KPMG LLP which identifies a matter that came to their attention during the audit of SBA's FY 2010 financial statements. The objective was to assess the adequacy of oversight and monitoring over the Agency's Recovery Act budgetary resources.

KPMG addressed one recommendation to you. We provided a draft of KPMG's report to you and you concurred with the finding. You also agreed to implement the recommendations or have already taken action to address the underlying conditions.