Today the City County Observer got a copy of the audit of the Ford Center construction project which we respectfully make available to our readers on the following link.
Some key conclusions taken from the audit are as follows:
“Based on procedures performed, the initial deposits to capitalized interest trust accounts were correct but subsequent deposits to the 2010B capitalized interest trust account were incorrect.”
“Based on the disbursements reviewed, the following disbursements were noted that did not appear to be for the construction of the Ford Center.”
“Based on the procedure performed, the City of Evansville did not spend $32 million of local funds on the Construction of the Ford Center.”
“Based on the procedure performed our review of Resolution C-2009-29 indicates that the total cost of design and construction of the Downtown Multi-Purpose Arena was capped at $127,500,000 excluding finance costs, furniture, and prior feasibility studies. Based on the expenditures reviewed, the total amount spent on the design and construction of the Downtown Multi-Purpose Arena from the reviewed funds and trust accounts was $128,279,998 as of December 31, 2012. This amount exceeds the cap of $127,500,000 proposed by the City Council in Resolution C-2009-29.”
“Based on the procedures performed, payments made on several contracts were not within the approved contract amount. Of the contracts reviewed ten were paid more than the contract amount plus (minus) change orders. The total amount overpaid was $1,052,732.”
“Based on the invoices reviewed, all paid invoices were not properly documented.”
“Results of the procedure performed indicates that not all of the deposits to and disbursements from the 2009 BAN A and 2009 BAN B bank accounts and the 2010 A and 2010 B trust accounts were appropriate and/or approved by the Redevelopment Commission or Redevelopment Authority Board.”
You can read the details that lead to the above derogatories and the official City of Evansville response on the following link.







