Register | Forgot Your Password? | Close
Register | Forgot Your Password? | Close

PHOENIX -- An internal audit shows Glendale administrators improperly took about $6 million from a city trust fund over three years to cover expenses.

The audit obtained by The Arizona Republic shows the account dropped from about $8 million in July 2010 to less than $3 million in June largely because of the improper transfers. The trust fund is essentially a self-insurance policy to cover personal injury or property damage liabilities.

The audit found city staff used the money during tight budget years to pay other bills. That means the city may come up short of cash to cover liabilities.

The fund board apparently wasn't told, but the City Council was told of some payments.

The revelations come as Glendale voters decide Tuesday whether to repeal a temporary sales tax increase.

Associated Press,

share this story:
Attention KTAR.com Comment Users: We have recently changed our comments boards.
We would like you to be part of the conversation and The Voice of Arizona by logging in with your Facebook, Twitter, Google+ or Disqus account. Existing KTAR (Arizona Sports) account members will need to create a Disqus account or use one of the aforementioned social media logins. Thank you.
comments powered by Disqus

World Class Arizona

  • Dignity Health

    World Class People. World Class Company. Excellent care, delivered with compassion, for all in need.
  • CopperPoint Mutual Insurance Company

    SCF Arizona has a new name. They are now CopperPoint Mutual Insurance Company.
  • Taylor Morrison

    World Class People. World Class Company. We are a national home builder committed to building homes inspired by you.
  • Go Daddy

    World Class People. World Class Company. Go Daddy is a Fortune 100 "Best Companies to Work For."
  • Avnet

    World Class People. World Class Company. Here's information on a Fortune 500 company from Arizona.

Voice For A Better Arizona

  • Working For Arizona

    The business and economics of Arizona at the start of 2014 and looking forward.
  • Arizonans In Need

    Putting a focus on charities and organizations who provide help and/or need your help to fulfill their missions.