|Public Release Date: October 6, 1999||No. 99-55|
The Department of Trade and Economic Development (DTED) is Minnesota's principal economic development agency. The department's mission is to facilitate an economic environment that produces new jobs and increases tourism revenues. DTED's primary goal is to promote the state's metropolitan and outstate economic climate. Mr. Gerald Carlson is the current commissioner of the department.
Our audit scope included a review of selected grant and loan programs, the tourism revenue match program, payroll, and professional and technical services for the period July 1, 1995, through June 30, 1998.
Our audit found that the Department of Trade and Economic Development operated within its available resources and had an effective process to monitor revenue and expenditure budgets. The department designed and implemented internal controls to provide reasonable assurance that financial activities were properly recorded in the MAPS accounting system. The department complied with significant finance-related legal requirements for the program areas tested.