Status of Two Authorities Granted to the Department of Commerce's Economic Development Administration
Highlights
The Department of Commerce's (Commerce) Economic Development Administration (EDA) Reauthorization Act of 2004 directed us to regularly review the implementation of two authorities granted to the Secretary of Commerce: (1) allowing excess funds from projects constructed under projected cost to be reinvested in new or existing projects and (2) establishing a performance award process for grant recipients that meet or exceed performance measures established in connection with the grant. This report (1) discusses EDA's authority to reinvest excess funds and provides information on the portion of these funds EDA has had to return to the U.S. Treasury and (2) describes the status of the performance award system and identifies some steps EDA could take to develop a useful performance award system.