The Indiana State Board of Accounts completed its review of Ford Center construction and design accounts and said expenditures exceeded $128 million — above the cap of $127.5 million set by the City Council in 2009.
A few bookkeeping errors and overpayments also were discovered in the state’s report, which was released on Friday. The Downtown arena, built during the administration of former Mayor Jonathan Weinzapfel, opened in fall 2011. The current administration of Mayor Lloyd Winnecke last year requested that the state conduct a review.
In some instances, though, the Winnecke administration’s written response to the state review disagrees with some of its conclusions.
City Controller Russ Lloyd Jr.’s response states the city did adhere to its $127.5 cap on construction and design costs.
Lloyd cited contractor overpayment errors by the city’s bond trustee totaling $321,306, and more than $1.3 million in tax increment financing funds that he said the city did not spend on the Ford Center.
Subtracting those two items places the city under the spending cap, according to Lloyd.
The State Board of Accounts was asked by city officials to verify that no operating expenses were paid from bond proceeds of city funds appropriated for construction. In its report, the state cites $844,353 from a project trust fund which was used for electric bills, water bills, expenses to prepare the venue for events, supplies, insurance and computer maintenance.
...
