The Wisconsin Economic Development Corp.’s (WEDC) most recent audit showed that the agency has been improving on several performance measures, according to a report from the Wisconsin State Journal. The Legislative Audit Bureau’s biennial review looked at fiscal performance and oversight of tax credit contracts, policies on closing contracts, and the accuracy of online data.
The audit found, for the most part, the WEDC complied with state law and its contracts when administering tax credits, loans, and grants during the last fiscal year. Past-due loans decreased from a total of $7.6 million in 2019 to $6.6 million in 2020. However, the audit noted the agency’s written policies didn’t require awarding tax credits only for wages paid in enterprise zones, as required by state law.
