Advertisement

Was Vermont too generous with COVID relief money for businesses?

A new report from the state auditor suggests Vermont was too generous in handing out COVID...
A new report from the state auditor suggests Vermont was too generous in handing out COVID relief money businesses.
Published: Sep. 22, 2021 at 6:12 PM EDT
Email This Link
Share on Pinterest
Share on LinkedIn

MONTPELIER, Vt. (WCAX) - A new report from the state auditor suggests Vermont was too generous in handing out COVID relief money businesses.

The auditor’s office examined the $117 million in Economic Recovery Grants that were distributed to 2,278 businesses that suffered financial losses due to the coronavirus pandemic.

Auditor of Accounts Doug Hoffer is questioning the way the Commerce Agency administered the program.

Hoffer’s audit found less than half of the companies sampled demonstrated revenue losses that justified the amount of money they received, and two-thirds of those companies made more money in 2020 than 2019 as a result of the grant funds.

We reached out to the Commerce Agency for a response but did not hear back before this story was published.

Copyright 2021 WCAX. All rights reserved.