Details of economic development audit coming

MADISON, Wis. (AP) -- An independent auditor is expected to release details of its investigation into the state's semi-private economic development agency that's been beset with problems during its first 18 months in existence.

Accounting firm Schenck SC was expected to discuss its findings at a meeting Monday of a Wisconsin Economic Development Corp. audit committee. The accounting firm was hired by WEDC to perform the audit in the wake of several missteps, including failure to carefully track $56 million in loans to businesses.

The audit was also to be discussed at a full WEDC board meeting on Tuesday in Eau Claire.

Also on Monday, the interim head of WEDC, Reed Hall, was scheduled to appear before a state Senate committee looking at how the agency is organized and what changes could be made.


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