Audit Objective
Did the Wyoming County Industrial Development Agency (WCIDA) officials ensure the payments in lieu of taxes (PILOT) they calculated were accurate and in compliance with the PILOT agreements?
Audit Period
January 1, 2023 – November 19, 2024
Understanding the Audit Area
Industrial Development Agencies (IDAs) are established to provide financial assistance to businesses to encourage various types of economic development projects.
WCIDA is governed by a seven-member Board of Directors (Board) appointed by the Wyoming County Board of Supervisors. The Board is responsible for reviewing and approving prospective project applications, including anticipated PILOT payments, and the general oversight of WCIDA’s financial and operational affairs. The Executive Director is the chief executive officer and is responsible for WCIDA’s day-to-day management. The Director of Operations (Director) oversees WCIDA’s business operations including the review of PILOT billings.
For 2023, WCIDA reported 36 active PILOT agreements, with PILOT billings totaling $1.7 million.
Audit Summary
WCIDA officials ensured PILOTs they calculated were accurate and in compliance with the PILOT agreements.
During the audit period, WCIDA officials calculated PILOT billings for nine wind and solar energy projects, totaling $971,547. We reviewed the PILOT billings for five of these agreements totaling $280,693 and determined they were accurate and in compliance with the PILOT agreements. Therefore, this report does not contain recommendations. WCIDA officials agreed with our findings.
We conducted this audit pursuant to Article X, Section 5 of the State Constitution and the State Comptroller’s authority as set forth in Article 3 of the New York State General Municipal Law. Our methodology and standards are included in Appendix C.