What's Going On in Indiana · claim F6
DOCUMENTEDPrimary document read. Citation displayed.
The forensic review produced 45 findings and observations. It identified 30 entities in which an IEDC board member or employee had a potential conflict; four were discussed at a meeting and one was disclosed to the oversight agency. On Elevate specifically it concluded that weak governance and no transparency into investment-level detail 'increased the risk that state and federal funds were being used in a manner that was inconsistent with their stated purpose.' Elevate made 336 investments totaling $55 million from the fund in the review period, and 94% of its operating money came from the state.
2025-10-02
The passage
At a high level, FTI found that the IEDC's limited communication with and governance of EV, along with a lack of transparency into EV investment-level details, contributed to an environment that increased the risk that state and federal funds were being used in a manner that was inconsistent with their stated purpose.
The document
- Document
- FTI Consulting, IEDC Forensic Review, Executive Summary and pp. 28, 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.