INDIANAPOLIS – Indiana Governor Mike Braun today reaffirmed his commitment to transparency across state government for taxpayers. To that end, he has ordered an independent forensic audit of the Indiana Economic Development Corporation and its affiliated entities.
“From the beginning, I committed to bringing more transparency to the agency, and that is what we are doing. In addition to this independent forensic audit, I signed an executive order earlier this month, requiring all state-affiliated foundations, including the Indiana Economic Development Foundation, to go above and beyond in their reporting and disclosures. Even though they have an IRS exemption, all state foundations must file 990 reports,” Gov. Braun said. “Transparency is essential. It’s essential for good government, and it’s what taxpayers deserve.”
It was previously identified that the Indiana Economic Development Foundation (IEDF) did not file audited financial reports with the State Budget Committee from 2019 to 2024 as required by law. Those reports have now been filed and are available here: https://iedc.in.gov/annual-financial-reports
It is expected that an independent forensic audit firm will be hired within the next few weeks and that the audit will take 6 to 12 months to complete. IEDC funds will pay for the audit.
“Indiana is a great place to do business, and our environment will only grow stronger and healthier through this transparency work,” said Gov. Braun. “We are committed to growing well-paying Hoosier jobs across the state, and we will do so in an accountable, transparent way.”
