What's Going On in Indiana · claim F2
DOCUMENTEDPrimary document read. Citation displayed.
The same auditor found that Elevate had never adequately tracked which tranche of state money funded which investment, or which returns any investment generated. The $25 million of 'returns' was approved by an entity that could not tie a return to an investment.
2025-10-02
The passage
(F) EV has not historically adequately tracked: 1) investments by tranche of IEDC funding; or 2) returns generated by investment.
The document
- Document
- FTI Consulting, IEDC Forensic Review, Elevate findings summary, p. 32
- Dated
- 2025-10-02
- Source
- open the primary
- Archived
- primaries/elevate/fti-iedc-forensic-review-2025-10-02.pdf
Who read it
joe, direct read 2026-09-08. FTI adds that Elevate 'substantially completed' a reconciliation during the review and hired its own outside firm to validate it.