Program Authorization: R.S. 51:2301 et seq.; R.S. 36:109(N); Act 279 of 1995; Act 17 of 1996
The mission of the Financial Assistance Program is to serve as a catalyst for capital to all Louisiana existing and emerging businesses, enabling new business to form and to provide for sustained economic growth of our state, thus providing an improved quality of life for it's citizens.
The goals of the Financial Assistance Program are:
1. Provide a reliable system of communications, efficient information systems, and well-trained human resources to administer LEDC's programs.
2. Provide access to capital for Louisiana emerging and existing businesses, enabling new enterprises.
3. Utilize portfolio management to direct the resources of LEDC to help promote a growing and diverse economy in the state.
GENERAL PERFORMANCE INFORMATION
OBJECTIVES AND PERFORMANCE INDICATORS
Unless otherwise indicated, all objectives are to be accomplished during or by the end of FY 1999-2000. Performance indicators are made up of two parts: name and value. The indicator name describes what is being measured. The indicator value is the numeric value or level achieved within a given measurement period. For budgeting purposes, performance indicator values are shown for the prior fiscal year, the current fiscal year, and alternative funding scenarios (continuation budget level and Executive Budget recommendation level) for the ensuing fiscal year (the fiscal year of the budget document).
RESOURCE ALLOCATION FOR THE PROGRAM
The Financial Assistance program is composed of the activity Capital Accessibility. The Capital Accessibility Activity is funded from Statutory Dedications of the Louisiana Economic Development Fund, which was established by Act 34 of 1991. (Per R.S.39: 32B. (8), see table below for a listing of expenditures out of each statutory dedicated fund.) Act 1186 of 1995 authorized 37% of the vendor compensation deduction to be dedicated to the Louisiana Economic Development Fund through June 30, 1996. Effective July 1, 1996, Act 32 of the First Special Session of 1996 redirected the deposit of vendor compensation collections into the Workforce Development and Training Fund. This fund was established by Act 483 of 1995 and is utilized for the Workforce Development and Training Activity now located in the Office of the Secretary.
ANALYSIS OF RECOMMENDATION
The total means of financing for this program is recommended at 100.6% of the existing operating budget. It represents 46.1% of the total request ($26,483,276) for this program. At this level of funding this program will be able to provide approximately the same level of services.
PROFESSIONAL SERVICES
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This program does not have funding for the Professional Services for Fiscal Year 1999-2000. |
OTHER CHARGES
ACQUISITIONS AND MAJOR REPAIRS
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This program does not have funding for Acquisitions and Major Repairs for Fiscal Year 1999-2000. |
