Audit of Economic Development Incentive Fund Program, April 2019

11 |  A u d i t o f E c o n o m i c D e v e l o p m e n t I n c e n t i v e F u n d P r o g r a m  A p r i l 2 0 1 9 3. Policies and Procedures Observation  County Resolution No. 2017‐145, known as the Economic Development Policy Guidelines, was  created as a tool to assist in the determination as to whether a business seeking grant funding  will further the economic prosperity and sustainability goals of the County. This resolution  outlines the amount of incentive funds to be granted for each new job created and it defines   criteria that may be applied when determining whether to provide incentive grant funding to  an applicant business. However, the department lacks approved policies and procedures  outlining the roles of the Government Relations staff and Sarasota Economic Development  Corporation (EDC) staff, criteria for review and approval of applicants, and subsequent  monitoring processes of approved grant awards.  Recommendation To ensure applicants meet a specified set of criteria set forth by the BCC, the Governmental  Relations Department should develop policies and procedures that will, at a minimum, address  the roles and responsibilities of the Governmental Relations staff and EDC staff, criteria for  review and approval of applicants, and subsequent monitoring of grant awards. These policies  and procedures should be in alignment with County Resolution No. 2017‐145, approved by the  Director of Government Relations, and updated accordingly when superseding resolutions are  approved by the BCC.  Management Response  Staff has developed new Governmental Relations Office Procedures and Guidelines for EDIF  Award Application and Performance Review. This standard operating procedure is in alignment  with County Resolution No. 2017‐145, and delineates steps for review, approval and  subsequent monitoring of grant applications and awards. It will be reviewed and updated as  necessary on an annual basis, or sooner when superseding resolutions are approved by the  BCC.