Gov. Braun announces independent audit of IEDC accounting

INDIANAPOLIS -- Indiana Gov. Mike Braun announced on Tuesday he is planning to conduct an independent audit of all accounting associated with the Indiana Economic Development Corporation to "protect taxpayers going forward."




In a statement shared with FOX59/CBS4, Braun said his office was planning to carry out an "independent forensic audit" as some state lawmakers continue to question the transparency practices of the IEDC. Previous reporting indicates how state law affords the agency the ability to keep many of the deals it makes a secret.




"Today I am reiterating my commitment to transparency in government. Hoosier taxpayers deserve clear accountability for how their dollars are spent," Braun said. "We are finalizing arrangements for an independent forensic audit of all Indiana Economic Development Corporation accounting and we will take any necessary action to protect taxpayers going forward."




This announcement follows the passage of an executive order Braun signed earlier this month requiring greater transparency from state-affiliated nonprofit organizations. The IEDC was one of the organizations the executive order specifically referenced.




Under the language of the executive order, all government-affiliated nonprofits must now file a Form 990 every year with the IRS and file annual reports with the State Budget Committee. At the time the order was signed, the release said the IEDC had not submitted an annual report to the State Budget Committee since 2019.




The foundations will be required to share any reports they may have failed to file in the past decade by Dec. 31.




In a post on X, the social media platform formerly known as Twitter, State Sen. Fady Qaddoura (D-Indianapolis) called for a complete investigation into the IEDC. As of this article's publication, FOX59/CBS4 has not been able to verify Qaddoura's allegations.




His full statement can be read below:




"I am calling for the immediate elimination of the IEDC budget augmentation to save Hoosiers $300M. As a member of the Budget Committee, I have consistently demanded more transparency into the IEDC's secretive and reckless financial dealings. Millions of your tax dollars are funneled through shell games, insider deals and backroom handshakes-without oversight, accountability or transparency. While families fight to make ends meet, the IEDC has thrown public money into private pockets with virtually zero scrutiny. Land deals, opaque budgets, ballooning costs, shady vendors-the list goes on. Let me be clear: this is government waste at its worst. And it's happening right here in Indiana. We must hold the IEDC and state agencies accountable. I will not stop pushing until every cent is accounted for, every bad actor is exposed and the people of Indiana get the answers they deserve. The supermajority does not have any more excuses to remain silent. Hoosiers demand answers."





via: https://fox59.com/news/gov-braun-announces-independent-audit-of-iedc-accounting/