SUMMARY

In FY 2011-12, WEDC administered 30 programs through which it authorized local governments to issue $346.4 million in bonds, awarded $41.3 million in grants and $20.5 million in loans, and provided $110.8 million in tax credits. WEDC did not have sufficient policies, including some that were statutorily required, to administer its programs effectively. It made some awards to ineligible recipients, for ineligible projects, and for amounts that exceeded specified limits. We noted the need for additional efforts to help ensure effective program administration.