While MWH is the only firm to which state officials have suspended loan-fund payouts, "strengthening of their procedures and documentation, obviously that would apply to everybody," DiResto said.
Division of Administration auditors also are looking into the disparity between disbursements from the loan fund and repayments to it, he said.
The loan fund actually comprises two accounts, a construction fund from which the city draws money to pay for recovery work and the so-called "revolver fund" into which the city deposits FEMA reimbursements. As of Monday, the construction account balance stood at $78.7 million, about 40 percent of its initial $200 million balance, while $28 million had been deposited into the revolver.
"When you've got $122 million withdrawn and $28 million now in the FEMA reimbursement revolver account, that's about 23 percent," he said. "The overall question that we have to look into is: What are the reasons for that what looks like on the surface a small percentage being replenished into the revolver account?
And remember that's WITHOUT having spent revolver funds on the Chevron building as was once discussed.
No comments:
Post a Comment