State Auditor Susan Montee on Oct. 11 issued an audit that accuses the Missouri Higher Education Loan Authority of a pattern of wasteful spending, including providing excessive and unjustified benefits and severance packages to agency executives, building an $11 million headquarters without bidding the project and procuring numerous other goods and services without soliciting competitive bids.
Montee said the audit’s findings are incomplete because the agency, which services low-cost student loans, refused certain requests for documentation made by auditors. The agency’s refusal is the subject of a pending lawsuit filed by the auditor’s office.
Montee said the audit’s findings are incomplete because the agency, which services low-cost student loans, refused certain requests for documentation made by auditors. The agency’s refusal is the subject of a pending lawsuit filed by the auditor’s office.
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