Audit of Tioga County Industrial Development Agency

Tioga County Industrial Development Agency (TCIDA) officials did not adequately monitor the use of sales tax exemptions or the amount of capital investment for IDA-sponsored projects to ensure they met, or made reasonable progress toward, their goals as stated in their applications.

In addition, TCIDA officials failed to institute adequate internal controls over TCIDA operations. The Board has not implemented adequate compensating controls over the Business Administrator’s handling of cash receipts and cash disbursements, and bank reconciliation and recordkeeping processes.

[The comptroller] found underpayment of PILOT payments to municipalities of more than $4,100.

Finally, TCIDA’s 2006 annual financial report submitted to OSC and the County legislature was inaccurate.

New York State Comptroller
Local Government and School Accountability
December 1, 2008