Purpose of Audit

The purpose of our audit was to evaluate the Agency’s project management practices for the period January 1, 2014 through June 30, 2015.

Background

The Cortland County Industrial Development Agency is an independent public benefit corporation created in 1974 by the State Legislature to benefit Cortland County and its residents. The Agency is governed by a seven-member Board of Directors, which is appointed by the County Legislature. The Agency had 11 active projects as of June 30, 2015.

Key Finding

• Agency officials have developed adequate procedures for selecting and monitoring participating projects and for managing the assistance and incentives provided to the firms or businesses in the tax exemption program.

Key Recommendations

• There were no recommendations as a result of this audit.