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Posted: 11:00 PM Jan 24, 2012
Kansas Bioscience Authority Funds On Hold
Gov. Sam Brownback's administration is withholding the payment of about $22 million in state revenue to the Kansas Bioscience Authority.
Reporter: AP (Posted by Melissa Brunner) |
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TOPEKA, Kan. (AP) _ Gov. Sam Brownback's administration is
withholding the payment of about $22 million in state revenue to
the Kansas Bioscience Authority.
The money is part of the KBA's annual appropriation of $35 million approved by legislators in the 2011 session.
Administration officials say the KBA has enough money in its accounts to meet its obligations for investments to bioscience
companies.
The state revenue is typically paid to the authority in the fall of each calendar year. But it's been on hold while auditors conducted a forensic investigation of the bioscience authority and its management.
Outside auditors said this week they found instances of document destruction, misuse of funds and questionable management by former CEO Tom Thornton. He resigned last April and has repaid about $4,600 to the KBA.
(Copyright 2012 by The Associated Press. All Rights Reserved.)


