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TDEC says it is adopting EPA recommendations to speed SRF loans, improve documentation and staffing
Summary
TDEC SRF staff told the TLDA Audit Committee on June 23 that EPA's program evaluation contained no findings but recommended operational changes including lowering cash balances relative to disbursement needs, raising staff salary grades, clarifying intended-use plans, and improving data and contract documentation.
TDEC State Revolving Fund (SRF) staff told the Tennessee Local Development Authority Audit Committee on June 23 that the U.S. Environmental Protection Agency's program evaluation for state fiscal year 2023 (federal fiscal year 2024) contained no findings or required actions but offered multiple recommendations to improve program operations.
Veena Jones, identified as TDEC SRF staff, summarized the recommendations and TDEC's responses. Jones said EPA recommended evaluating ways to reduce the SRF cash-to-average-annual-disbursement ratio below two years; TDEC said it has revised readiness-to-proceed and rankability criteria to move shovel-ready projects more quickly into loan processing.
Jones said EPA also recommended higher salary grades for SRF staffing. "We appreciated that…
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