MADISON, WI (WTAQ) - Board members of the embattled Wisconsin Economic Development Corporation have started laying out solutions to accountability problems spelled out in a stinging audit.
The panel was told that the agency’s new vice president for risk-and-credit, Jake Kuester, is drafting new procedures to keep a closer eye on tax credits, loans, and grants given to businesses for creating jobs.
The WEDC is establishing a new credit committee – and it’s revamping its reporting and information technology systems.
The agency had five vice presidents and seven staff members ready to answer questions.
Governor Scott Walker, who chairs the agency’s board, said the corporation has the chance to be more open and accountable to taxpayers with quote, “clear expectations, clear policies, and clear follow-up.”
At least one board member said legislators would not let up in checking on the WEDC.
Stevens Point Senate Democrat Julie Lassa told her colleagues there are bills circulating among lawmakers to require a full audit of the WEDC every year.
Despite the agency’s criticisms, Walker said businesses were generally pleased in working with WEDC staffers.