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Links Roundup: Inside NYS Edition

December 18, 2013

ABO Final Report of Carthage Industrial Development Corporation

The Authorities Budget Office (ABO) is undertaking a series of reviews of selected local development corporations (LDCs) across the state to better understand the public purposes for which each LDC was formed, and to gain insight as to how these corporations function and expend public funds. These reviews will also increase public awareness of the operations of LDCs.  The ABO has completed its limited scope review of the Carthage Industrial Development Corporation (CIDC).  The report concludes that although CIDC has undertaken various economic development projects in the area, it also funds activities that are not related to its core mission, such as subsidizing municipal operations and managing residential housing. This report is posted on the ABO web site at http://www.abo.ny.gov/reports/compliancereviews/CarthageIndustrialDevelopmentCorporationFinal%20Report2013.pdf and available to the public at: www.abo.ny.gov

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