Book Description

Economic Development Corporation of Utah (EDCU) is a contractor for the Governor’s Office of Economic Development (GOED) that provides business recruitment services. EDCU receives the majority of its funding from state and local sources. This audit identifies improper personal purchases, missing computer hardware, and questionable purchases that lacked receipts and documentation of legitimate business purposes. In addition, we question the appropriateness of providing meals and gifts to GOED staff. Poor financial management and inadequate financial policies and procedures allowed these problems to persist. EDCU also failed to file its 2010 through 2013 tax returns, thus losing its tax-exempt status. EDCU is addressing the poor financial management that allowed these problems to occur by making organizational changes.