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Monday, September 22, 2014

WEDC Administrative Budget Up 35% Under Walker's Mismanagement

According to a recent Legislative Audit Bureau report, administrative spending in Gov. Scott Walker's flagship agency, the Wisconsin Economic Development Corporation (WEDC), ballooned 35% after its first year.

Keep in mind this substantial increase is for operational staffing (mostly patronage hires) and utility costs, not for the so-called tax incentive venture capital slush fund the scandal-plagued governor keeps topped off for his political donors. In fact, you won't want to go to that side of the WEDC budget equation if government secrecy or misuse of taxpayer's dollars are among your pet peeves.

Walker's highly contradictory brown-bagging facade as governor however becomes again evident in his visible role as the WEDC board director, as it tells the same story of wasteful spending, reckless accounting and failed jobs creation ...

Wisconsin Gazette Excerpt:
The Legislative Audit Bureau’s report examined the Wisconsin Economic Development Corporation’s finances over fiscal years 2011-12 and 2012-13. Auditors found the agency’s spending on administrative expenses such as salary, marketing and travel grew from $11.2 million in the first year to $15.1 million in the second.

Read more here.

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