A new audit shows Wisconsin's troubled economic development agency's performance has slipped after making promising improvements.
The agency didn’t require eight grant recipients to repay $64,300 in grants that went to cover expenses incurred after contractually specified time periods had ended or recipients failed to verify that they had spent the money in compliance with their contracts.
If the WEDC determined that a recipient didn’t create all the promised jobs the agency did not award that recipient all the tax credits allocated, the audit said. State dollars have historically supported most of the WEDC’s programs, but auditors found that federal pandemic relief funds accounted for more than 60% of the WEDC’s $106.5 million total revenue in fiscal year 2021-22, the audit noted.
Hughes acknowledged, though, that the audit bureau’s review identified five grants that “may need to be recaptured” and the agency plans to use a third party to evaluate its business tax credit program.
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