Audits of Local Governments and School Districts
Oneida County Industrial Development Agency – Project Approval and Monitoring (2012M-149)
Released: October 5, 2012 -- [read complete report - pdf]
Purpose of Audit
The purpose of our audit was to review Oneida County IDA's (OCIDA) approval and monitoring of projects open during the period January 1, 2010, to January 31, 2012.
The OCIDA was created in 1970 by the Oneida County Board of Legislators for the purpose of encouraging economic growth. OCIDA comprises a seven-member Board of Directors, which is appointed by the County Legislature, and is responsible for the general management and control of OCIDA's financial and operational affairs. For the December 31, 2010 fiscal year, OCIDA managed 92 active projects that received $13.6 million in tax exemptions and abatements.
Overall, OCIDA adequately approved and monitored projects.
- OCIDA has established criteria for selecting firms or businesses receiving sponsorship and economic development incentives and has consistently applied its criteria.
- OCIDA officials have adequately monitored its sponsored projects to ensure they met or made reasonable progress toward their employment projections.
- OCIDA officials have imposed recapture penalties where projects failed to create jobs as projected.
- There are no recommendations for this audit.
Local Government and School Accountability Contact Information:
Phone: (518) 474-4037; Email: firstname.lastname@example.org
Address: Office of the State Comptroller, Division of Local Government and School Accountability
110 State Street, 12th Floor; Albany, NY 12236