PHEAA Audit Finds Too Much Money On Perks, Seeks Board OverhaulTeam 4: Auditor General To Audit PHEAA
POSTED: 5:11 pm EDT April 17,
2007
UPDATED: 6:00 pm EDT April 17,
2007
The following is a transcript of a report by Team 4 investigator Jim Parsons that first aired April 17, 2007, on WTAE Channel 4 Action News at 5 p.m.
Last month, Team 4 reported that Pennsylvania Auditor General Jack Wagner was considering an audit of PHEAA and on Tuesday, Wagner made it official.
In a letter to PHEAA CEO Dick Willey, Wagner's deputy said the office is initiating a special performance audit of the Pennsylvania Higher Education Assistance Agency.The audit will cover a period starting July 2004, which would encompass the last two retreats board members attended, including the one at Nemacolin Woodlands Resort where PHEAA spent $135,000 in public funds.The audit will look at PHEAA's administration of the state grant program and evaluate compensation, benefits and expenses.The audit also comes during an ongoing investigation in New York of the college loan industry nationwide. In a letter back to Wagner, PHEAA's CEO said he welcomes the audit and is confident it will show the agency is a well-run and efficient business operation.
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Last month, Team 4 reported that Pennsylvania Auditor General Jack Wagner was considering an audit of PHEAA and on Tuesday, Wagner made it official.
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