Evaluation Report 15-08: SBA’s 2014 and 2015 Cash Gifts

On March 18, 2015, the U.S. Small Business Administration (SBA) Office of Inspector General (OIG) published its evaluation report,15-08: SBA’s 2014 and 2015 Cash Gifts.  SBA has gift authority under sections 4(g), 8(b)(1)(G), 5(b)(9) and 7(k)(2) of the Small Business Act (the Act).  Employees may solicit and accept gifts on behalf of SBA after proper approvals, including a conflict of interest determination by SBA’s Office of General Counsel.  Section 4(g)(2) of the Act provides that any gift, devise, or bequest of cash accepted by the Administrator shall be held in a separate account and shall be subject to semiannual audits by the Inspector General who shall report his or her findings to Congress.

The objective of the OIG evaluation was to determine the adequacy of SBA controls over the solicitation, acceptance, holding, and utilization of cash gifts.  To accomplish our objective, we interviewed key SBA employees, and reviewed various management and financial records available for fiscal years 2014 and 2015.  We also reviewed public records, applicable laws, regulations, policies, and procedures, and SBA documents such as internal and external correspondence, financial management system reports, accounting records, and various other documents.  Overall, our evaluation found SBA complied with the Act regarding the solicitation, acceptance, holding, and utilization of cash gifts.  This report contains no recommendations; therefore, no further action or response by SBA is required.