Appendix e
Report Methodology
Legal and Compliance
The Legal and Compliance group is part of the Director’s Office under the direction of the IDED General Counsel. This staff provides contractual, reimbursement, monitoring, reporting, relationship management and closeout services that support the state’s financial assistance awards. This Report was compiled and prepared by the Legal and Compliance team in collaboration with IDED’s Accounting, Communications and Information Technology teams.
The Iowa Values Fund and Business Assistance Programs
2007 Annual Report
is a Progress Report
The job creation, wages and investment amounts reported annually by businesses are not used by the Department to determine final contract compliance. The annual reports submitted during the contract period are progress reports that are used to gauge how the funded projects are progressing toward reaching the contract obligations. These reports are also used as a guide for the Legal and Compliance staff to determine if follow-up may be needed to provide technical assistance to a business. Contract compliance will be measured at two points: the Project Completion Date and if applicable, the End of the Maintenance Period.
Higher documentation standard required for Annual Report.
This Iowa Values Fund and Business Assistance Programs
2007 Annual Report
is held to higher verification standards than other IDED reports. It is the only IDED report that is required to be documented with payroll records for each project. This high level of confirmation is not a statutory requirement for reporting. It was a high standard established by the previous IDED administration which has continued to be applied to this Annual Report.
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