Audit of Economic Development Incentive Fund Program, April 2019

6 |  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 Opportunities For Improvement and Management Responses The audit disclosed certain policies, procedures, and/or practices that could be improved. The  audit was neither designed nor intended to be a detailed study of every relevant system,  procedure, or transaction.  As a result of the audit, observations and recommendations   identified below are related to Standards :   (Standard 2130.A1) Adequacy and effectiveness of controls, particularly compliance  with laws and policies and procedures and the reliability and integrity of financial and  operational information.  The Opportunities for Improvement presented in this report may not be all‐inclusive of areas  where improvement may be needed. There were seven Opportunities for Improvement  identified as a result of the audit:  1. Grant Allocation Wage  2. Supporting Documentation for Payment Requests  3. Policies and Procedures  4. Compliance with Florida Statute  5. Residency Requirements  6. Write‐off Process  7. Application Process