Gov. Braun reiterates commitment to transparency for taxpayers

Submitted by Office of Governor Mike Braun

Indiana Governor Mike Braun reiterated on Thursday 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 (IEDC) and its affiliated entities.

“From the beginning, I committed to bring more transparency to the agency and that is what we are doing,” Gov. Braun. “In addition to this independent forensic audit, earlier this month I signed an executive order 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. 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 at iedc.in.gov/annual-financial-reports.

It is expected that the independent forensic audit firm will be hired within the next few weeks and that the audit will take six to 12 months to complete. The audit will be paid for by IEDC funds.

“Indiana is a great place to do business and our environment will only grow stronger and healthier through this transparency work,” Gov. Braun said. “We are committed to growing well-paying Hoosier jobs across the state and we will do so in an accountable, transparent way.”