Audit: Auburn IDA should improve project monitoring

A state comptroller’s office audit of the Auburn Industrial Development Authority concluded that the city agency did not effectively monitor or evaluate certain projects receiving financial assistance.

Auburn’s was one of six IDAs around the state chosen by the state comptroller’s office for an audit in 2015 to determine the effectiveness of IDA boards. The Office of the State Comptroller released an official letter on the audit in September detailing its findings.

The audit work, which occurred during the summer of 2015, “examined the Agency policies and procedures and reviewed records and project files for the audit period January 1, 2014 through May 31, 2015,” according to the official letter written by Deputy Comptroller Gabriel Deyo. For certain projects, the audit period was expanded back to 2001.

The Citizen:
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