Monitoring & Compliance Our Monitoring and Compliance Division
One pre-existing process that we
is charged with tracking and recording
improved this past year is the annual
community and economic development
self-reporting process for both the
incentives and programs. They ensure
Job Creation Tax Credits (JCTCs)
recipients of City support comply with
and Commercial Reinvestment Area
federal and local regulations, covenants
(CRA) incentives. This process requires
set out by City agreements, and key
recipients to provide updates on their
performance indicators developed in
compliance by submitting a report
coordination with the City of Cincinnati.
on jobs created and retained and
This process ensures investments made
confirming the amount of investment
by the Department of Community and
in their projects. The improvements we
Economic Development have the greatest
made include providing the option to
impact on the community and maximize
complete and submit the annual report
the City’s return on investment.
forms online. For the recipients, this makes the reporting process faster and
MAJOR ACCOMPLISHMENTS
more efficient. For us, it reduces data entry (saving staff time) and ensures
Implementing the Incentive Review
data automatically gets stored into our
Report Recommendations
database upon its submission.
Over the last year, the Monitoring and Compliance Division has taken major
Next, to oversee and ensure the accuracy
strides to expand the department’s
and completeness of the reporting
oversight of incentivized businesses
information and all other department-
based on recommendations made
wide data, we created a Data Integrity
from our incentive review. These
Team (DIT). This team, which is managed
changes include building upon our
by a Data Integrity Manager, ensures
existing framework to make processes
data integrity by recommending
more efficient, ensuring accuracy and
improvements to our data-collection
completeness of data, and implementing
and reporting systems and regularly
a more rigorous monitoring process.
reviewing the accuracy and completeness of the data.
36
