The Genesee County Industrial Development Agency should reclaim $340,000 in bonuses it gave to employees, the New York State Authorities ­Budget Office said in a report last week.

The IDA routinely gave bonuses to its employees despite having no policy in place authorizing them, according to the report. “We believe that the bonus payment practices of the GCIDA are inappropriate,” the report said.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.