AUDIT OF RTC MORTGAGE TRUST 1995-SN1

January 10, 2001Audit Report No. 01-001Audit of The Ratcliff Architects'Professional Fee BillingsUnder Contract 97-00384-S-JWFederal Deposit Insurance Corporation Office of Audits Washington, D.C. 20434 Office of Inspector GeneralDATE: January 10, 2001TO: Arleas Upton Kea, DirectorDivision of AdministrationFROM: Sharon M. SmithAssistant Inspector GeneralSUBJECT: Audit of The Ratcliff Architects' Professional Fee BillingsUnder Contract 97-00384-S-JW (Audit Report No. 01-001)This report presents the results of the Office of Inspector General's (OIG) audit of professionalfee billings that The Ratcliff Architects submitted to the Federal Deposit Insurance Corporation(FDIC) for services performed under contract 97-00384-S-JW. Ratcliff billed the FDIC$607,730 on this contract, which covered the period May 16, 1997 through December 31, 1998.This is the first of two contracts the FDIC awarded Ratcliff for architectural and engineeringservices associated with the renovation of the San Francisco Regional Office located at 25 EckerSquare.BACKGROUNDThe FDIC awarded contract 97-00384-S-JW, effective May 16, 1997, to The Ratcliff Architectsas a time and materials contract with total compensation not to exceed $500,000. Ratcliff was toperform architectural, engineering, design, and contract construction administration and oversightservices for the ...