South St. Louis County News

St. Louis Call Newspapers

South St. Louis County News

St. Louis Call Newspapers

South St. Louis County News

St. Louis Call Newspapers

Missouri’s auditor charges conflicts of interest by state technology board

State Auditor Susan Montee last week released an audit highly critical of the Missouri Technology Corporation (MTC).

The agency, which promotes economic development in technology, was charged with conflicts of interest by board members, excessive administrative costs and absence of significant progress in recruiting technology companies.

The audit, released Dec. 1, found that three board members also had served on a board which received funds from the government agency.

One MTC member participated in a board decision to award $139,500 to a non-profit organization in which the MTC member was the chief executive officer.

In a lengthy written response, the Technology Corporation replied that the conflict of interest issues had occurred under a prior executive director who was replaced in 2009 and that the board members involved no longer served on the board.

MTC also noted that it has adopted new rules governing conflicts of interest.

– Missouri Digital News