Audit of Economic Development Incentive Fund Program, April 2019

12 |  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 4. Compliance with Florida Statute Observation  Florida Statute 125.045(4) states that "a contract between the governing body of a county or  other entity engaged in economic development activities on behalf of the county and an  economic development agency must require the agency or entity receiving county funds to  submit a report to the governing body of the county detailing how county funds were spent and  detailing the results of the economic development agency's or entity's efforts on behalf of the  county. By January 15, 2011, and annually thereafter, the county must file a copy of the report  with the Office of Economic and Demographic Research (EDR) and post a copy of the report on  the county's website".  The County filed, for the first time, the EDC’s annual report for fiscal year 2016‐2017 in January  2018. The County has not filed previous fiscal year annual reports with the EDR. The first  required filing due date was January 15, 2011, so the County has not filed the six prior years  EDC annual reports. Additionally, the County has not posted a copy of the EDC annual reports  to the County website.  Recommendation To ensure compliance with Florida Statute, develop and implement a monitoring process to  verify that all reporting requirements related to the EDC Annual Report are completed by the  specified time period.  Management Response  Staff has developed new Governmental Relations Office Procedures and Guidelines for  Economic Development Reporting to the State. This standard operating procedure is in  alignment with Florida Statute 125.045(4) and delineates reporting requirements related to the  EDC Annual Report. It will be reviewed and updated as necessary on an annual basis, or sooner  when superseding statutes are adopted by the State of Florida. Governmental Relations staff  will continue to file the EDC Annual Report with the EDR as well as make the report available on  the department web page.