From the Northwest Indiana Times:
Indiana's state budget leaders picked international accounting firm Deloitte on Monday to determine the scope of an external audit looking at how the state lost track of more than $500 million in tax revenues.
The five-person State Budget Committee announced its pick during a meeting at Vincennes University, but the terms of the review won't be signed off on until the next budget committee meeting in July.
"Clearly everyone has a desire to start as soon as possible," said state budget director Adam Horst, a member of the committee.
Deloitte now will determine what the audit will cover and most likely will be chosen to conduct the actual work once the parameters are set. Ten companies bid for job.
The review follows the disclosure in December that $320 million in corporate tax money that the Department of Revenue collected over several years hadn't been properly deposited in the state's general fund. State officials then announced in April that $206 million in local income tax revenues had been mishandled and not distributed over the previous 14 months to Indiana counties.
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The budget committee, is made up of Horst, two Republican and two Democratic legislators.
http://www.nwitimes.com/news/state-and-regional/indiana/indiana-hires-deloitte-to-assess-m-mistakes/article_b297f335-5b42-55a5-a2fc-d5dab443f02b.html
