Economic Development Administration: Tyler Economic Development Council, Tyler, Texas Revolving Loan Fund EDA Grant Nos. 08-39-02823 and 08-39-02823.01. Audit Report No. ATL-13734-1-0001

摘要

The Tyler Economic Development Council promotes economic growth by providing various programs for both new and existing businesses. One such program is a federally funded revolving loan fund (RLF) provided through the Economic Development Administration: In September 1992, EDA awarded the council a $500,000 grant to establish an RLF, In March 1996, EDA awarded the council another $500,000 grant to recapitalize the RLF. We performed a financial and compliance audit of the council's RLF during August 2000, The main purpose of our audit was to determine the reasons for the council's delays in drawing down the RLF recapitalization grant award. Other audit objectives were to evaluate the council's financial management of its RLF, and to assess the council's compliance with applicable RLF administrative and loan documentation requirements.