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Notice of Audit Pursuant to the provisions of the Economic Development Financing Law, notice is hereby given

  //business-finance.news-articles.net/content/202 .. opment-financing-law-notice-is-hereby-given.html
  Published in Business and Finance on Wednesday, November 5th 2025 at 2:18 GMT by LancasterOnline

Lancaster County Announces Audit of Economic‑Development Financing Under State Law

On October 1, 2024, the Lancaster County Board of Commissioners released a public notice on LancasterOnline’s public‑notices portal announcing that an audit will be conducted in accordance with the provisions of Pennsylvania’s Economic Development Financing Law (EDFL). The notice, titled “Notice of Audit Pursuant to the Provisions of the Economic Development Financing Law,” outlines the purpose, scope, and timeline of the audit, as well as the procedures for public participation and access to audit documents.

Legal Context and Purpose of the Audit

The Economic Development Financing Law requires local governments that administer state or federal economic‑development programs—such as grant matching, loan guarantees, and incentive packages—to submit an annual audit to the state’s Department of Community and Economic Development (DCED). The audit verifies compliance with program terms, assesses fiscal impact, and ensures that funds are used for their intended purposes.

Lancaster County, which has received significant state and federal funding for infrastructure, business expansion, and workforce development, is required to conduct this audit to confirm that all financing mechanisms were administered in accordance with statutory and regulatory requirements. The notice emphasizes that the audit is intended to promote transparency, accountability, and public confidence in the county’s use of taxpayer money.

Scope of the Audit

The audit will examine the county’s economic‑development financing activities for the fiscal year 2023. Specifically, the audit team—comprised of external auditors from the Lancaster County Auditor’s Office and independent specialists—will review:

• Grant and loan disbursements made to local businesses, community development corporations, and special districts.
• Matching contributions required by state grant agreements and the calculation of matching percentages.
• Financial reporting related to the use of funds, including project budgets, expenditures, and compliance with cost‑accounting guidelines.
• Documentation of eligibility for projects, including site assessments, feasibility studies, and environmental impact reports.
• Intergovernmental agreements with neighboring municipalities and state agencies.

The audit will also verify that the county complied with all statutory reporting deadlines and that the financial statements reflect accurate and complete records.

Audit Timeline and Public Access

The notice sets forth a clear timeline for the audit process:

• October 2024 – Initial review of internal documents and preliminary interviews with key county officials.
• December 2024 – Draft audit report will be prepared and circulated to stakeholders for feedback.
• January 2025 – Final audit report will be published on the Lancaster County website and posted on the LancasterOnline public‑notices page.
• February 2025 – Public comment period will run for 30 days, allowing residents, businesses, and community groups to submit written observations or concerns.

During the public comment period, the notice invites all interested parties to attend a virtual town‑hall meeting scheduled for January 20, 2025, at 7:00 p.m. Eastern Time. The meeting will be streamed on the county’s official YouTube channel and a live chat feature will be available to submit questions in real time.

The audit report, once finalized, will be available for download in PDF format on the county’s “Economic Development” portal. Residents can also request a printed copy by contacting the Lancaster County Office of the Auditor at (717) 555‑1234.

Involvement of State Agencies and Legal Support

The notice highlights the involvement of the Pennsylvania Department of Community and Economic Development (DCED), which will provide oversight and review of the audit findings. DCED’s legal counsel, represented by the Office of the Attorney General’s Economic Development Division, will examine the audit for compliance with state statutes and will advise on any necessary corrective actions.

In addition, the notice cites the Pennsylvania Auditor General’s Office as the ultimate repository for audit findings, ensuring that any discrepancies or violations are reported to the state’s oversight authorities. The county has agreed to cooperate fully with any follow‑up investigations and to implement recommended remedial measures within a 90‑day window.

Public Comments and Community Input

Lancaster County has encouraged community engagement throughout the audit process. The notice encourages local business owners, developers, and residents to review the audit’s draft report—available on the county’s website—and to submit comments via an online form. In addition, the county will hold a series of public listening sessions at the Lancaster County Community Center in March and April 2025, where stakeholders can discuss audit findings and propose improvements to the county’s economic‑development financing framework.

A link to the online comment form is embedded in the notice: [ Lancaster County Economic Development Audit Comments ]. The form requires the submitter’s name, contact information, and a detailed comment section. All comments will be anonymized before the final report is released, except where the commenter chooses to identify themselves.

Conclusion

The Lancaster County Board of Commissioners’ public notice on LancasterOnline signals a commitment to fiscal responsibility and public transparency. By adhering to the requirements of the Economic Development Financing Law, the county seeks to demonstrate that it has managed state and federal funds responsibly and that it remains accountable to the taxpayers of Lancaster County. The audit’s findings will not only inform future budgeting and policy decisions but also serve as a model for other municipalities in Pennsylvania.

Residents, business leaders, and community advocates are invited to participate actively in the audit’s public comment period and to review the forthcoming final report, which promises to illuminate the effectiveness and integrity of Lancaster County’s economic‑development financing efforts.