How do you misplace $1.5 million?

[TeeDub]

http://www.kswo.com/Global/story.asp?S=8846266

TULSA, Okla. (AP) - The city of Tulsa is being told to justify how it spent a $1.5 million federal grant or repay the money.

An audit by the Inspector General of the U.S. Department of Housing and Urban Development says the Tulsa Development Authority couldn't produce documents to support how the money was spent.

The grant from the Community Development Block Grant program was intended to buy and clear land and for relocation activities.

City officials disagree with most of the assertions in the audit and say they hope any money that must be repaid could be negotiated.

HUD will assess the inspector general's audit and have the final say on any action against the city.

[Nik]

took bad the sinking fund is now short 7 million. looks like we might need it.

[Wrinkle]

It wasn't misplaced, it was misused. Note the comment about the possibility a repayment could be 'negotiated', all but an admission of guilt.

TDA has some problems which needs to be addressed. Let's start with the resignations of at least three Board members. Actually, all of them would be better.

TDA was established to help administer public projects. I'd suggest they have no authority to instigate projects at all. Our Council should demand a Resolution requiring all TDA projects to come TO them via our City's EDC, as the structure would indicate.