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CHARLESTON — State Treasurer Riley Moore and State Auditor J.B. McCuskey have both called for legislation after a legislative report found that the West Virgi
CHARLESTON — Treasurer Riley Moore and Auditor J.B. McCuskey have both called for legislation after a legislative report found that the West Virginia Econo
Audit prompts WVa treasurer to seek greater agency oversight By JOHN RABYJanuary 27, 2021 GMT CHARLESTON, W.Va. (AP) — West Virginia Treasurer Riley Moore said Wednesday his office will seek greater oversight of an agency that a legislative audit says did not keep adequate records of a loan program intended to boost the state’s economy. Moore, a Republican who took office earlier this month after defeating six-term incumbent Democrat John Perdue in November, said in a statement that the proposed transparency and accountability measures are aimed at taxpayer funds used by the state Economi...
Staff writer CHARLESTON — Treasurer Riley Moore and Auditor J.B. McCuskey have both called for legislation after a legislative report found that the West Virginia Economic Development Authority wasted nearly $25 million on failed venture capital programs. In a press release Wednesday, Moore said he was working with the Legislature on bills to increase oversight, transparency and accountability for funds managed by state agencies after the Legislature’s Post Audit Division found the EDA lost track of a $25 million Non-Recourse Loan Program started in 2002. “As your new Treasurer, I am no...
For The Inter-Mountain CHARLESTON — The West Virginia Economic Development Authority lost track of a $25 million venture capital loan program and has little to show for success according to a new report. The West Virginia Post Audit Division released a report Tuesday highlighting the failures of the EDA’s $25 million Non-Recourse Loan Program. “It is the Legislative Auditor’s opinion that the Loan Program did not achieve the intended outcomes and what was achieved is difficult to quantify,” the report stated. Created in 2002 by the Legislature at the request of then-governor Bob W...