Office of the Inspector General Department of the Treasury

Semiannual Report to Congress April 1, 2012- September 30,2012 Office of the Inspector General Department of the Treasury

We audited Treasury?s role in the $535 million loan guarantee made to Solyndra in 2009. We found Treasury performed a consultation on the terms and conditions of the Solyndra loan guarantee as derived from law and regulation implementing the Department of Energy?s Loan Guarantee Program. However, whether that consultation met the intent of the applicable law and regulation is not clear because Treasury?s consultative role was not sufficiently defined. The consultation that did occur was rushed, and no documentation was retained as to how Treasury?s serious concerns with the loan guarantee were addressed.