A package of reforms to the Wisconsin Economic Development Corporation (WEDC) moved forward this week on a unanimous, bipartisan vote in the State Senate. The legislation proposing the reforms, Senate Bill 205 (SB 205), was drafted by the co-chairs of the Joint Legislative Audit Committee in response to the disappointing results of a recent WEDC audit. These reforms are intended to address concerns raised with financial management, program administration, and accountability at the agency.
SB 205 includes two reforms that I proposed in separate legislation, including requiring an annual financial audit of WEDC and set term limits for WEDC Board members. Other reforms included in the bill require one of the WEDC Board members to be a certified public accountant, require WEDC to adopt transparent procurement procedures, and expand the annual reports WEDC must submit to the State Legislature.
SB 205 has now been referred to the State Assembly for consideration.