Audit knocks state agency for losing track of $25M loan program | News, Sports, Jobs
For The Inter-Mountain CHARLESTON — The West Virginia Economic Development Authority lost track of a $25 million venture capital loan program and has little to show for success according to a new report. The West Virginia Post Audit Division released a report Tuesday highlighting the failures of the EDA’s $25 million Non-Recourse Loan Program. “It is the Legislative Auditor’s opinion that the Loan Program did not achieve the intended outcomes and what was achieved is difficult to quantify,” the report stated. Created in 2002 by the Legislature at the request of then-governor Bob W...