La. Admin. Code tit. 19, § VII-2917 - Reporting
A. Upon closing of
each investment, each venture capital fund that is the recipient of LEDC funds
shall provide to LEDC the following information:
1. name of company, census tract, NAICS code,
amount of investment, total amount of round of funding, and date of
investment
2. the number of jobs
with corresponding salaries, new and retained;
3. narrative of business, use of funds, board
presentation;
4. prior and post
investment of private capital; and
5. assurances and certifications in
accordance to U.S. Treasury guidelines.
B. Each year, on the anniversary date of the
initial disbursement of funds, or on such date as may be authorized by LEDC,
each venture capital fund that is the recipient of LEDC funds shall provide to
LEDC the following information:
1. a list of
all investors in the fund, including the amounts of each investment and the
nature of each investment;
2. a
statement of the financial condition of the fund including, but not limited to,
a balance sheet, a profit and loss statement, and a statement showing changes
in the fund's financial condition;
3. a current reconciliation of the fund's net
worth; and
4. an annual audited
financial statement prepared by a certified public accountant (prepared within
120 days of the end of the fund's fiscal year).
C. Investment funds must submit assurances
and certifications in accordance to U.S. Treasury guidelines on each investment
prior to closing.
Notes
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