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FOAC accepts audit that found gaps in Chapter 380 monitoring; schedules follow-up for FY26
Summary
An internal audit of City of El Paso Chapter 380 economic‑development agreements found inconsistent financial analysis, incomplete job reporting and gaps in monitoring; FOAC accepted the report and scheduled a follow‑up audit for FY26, voting 4‑0.
The Financial Oversight and Audit Committee accepted an internal audit of the City of El Paso’s Chapter 380 economic‑development agreements on Oct. 9 and directed a follow‑up audit during fiscal year 2026 to confirm management changes.
The audit A2023‑07 reviewed a sample of 3‑80 (Chapter 380) incentive agreements and rebate payments and found that economic development staff did not consistently document financial analysis of applicants, did not report actual job counts or the full dollar value of incentives to City Council, and did not consistently track key dates, deadline extensions or payment timing. The audit also identified four closed agreements that had received payments without completing all contract terms; auditors…
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