Millions of dollars that could fund teachers salaries, computers and roads is being wasted by Missouri's local government and school systems, according to a new state audit report. Michelle Wirth has more from Jefferson City.
The report says that Missouri school systems and local governments are buying bonds from local groups rather than opening it up to competition. State auditor Claire McCaskill says that the lack of competition has led to higher interest costs.
McCaskill says her office plans to educate local school systems and governments in order to fix the problem. From Jefferson City, I'm Michelle Wirth.
Millions of dollars in taxpayer money has gone down the drain according to a new state audit report. Michelle Wirth has more from Jefferson City.
The report said that a majority of local governments and school districts purchased bonds from in-state businesses rather than opening it up to out-of-state bidding.
McCaskill says that the lack of competition led to higher interest rates and loss of money.
McCaskill says the extra money used for interest could have funded projects such as roads, salaries, and computers. From Jefferson City, I'm Michelle Wirth.