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The mission of the Indiana Grain Buyers and Warehouse Licensing Agency (IGBWLA) is to ensure the financial integrity of the grain marketing infrastructure, while allowing the industry to be competitive, innovative and efficient. The agency has oversight of nearly 270 licensees that own more than 430 facilities. These facilities have at least a 600-million bushel storage capacity and are strong partners to each community’s grain farmers.
To serve as an advocate in this partnership, over the past year, IGBWLA’s field auditors inspected nearly 750 moisture meters and conducted 298 state and 115 compliance audits, as well as 98 soybean and 128 corn checkoff audits. IGBWLA is continually reviewing auditing procedures to keep them up-to-date with present marketing practices. In 2012, IGBWLA installed a new software database to capture more information and improve documentation from all these new auditing practices.
IGBWLA was able to work with the licensees and experienced no failures in 2012. IGBWLA, with the Indiana Grain Indemnity Corporation (IGIC) continue to work with the Attorney General’s Office in litigation to recoup funds paid by IGIC in the two most recent failures that occurred in 2010 & 2011.