Audit critical of company hired to manage TN's assets - WRCBtv.com | Chattanooga News, Weather & Sports

Audit critical of company hired to manage TN's assets

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By LUCAS L. JOHNSON II
Associated Press

NASHVILLE, TN (AP) - Tennessee Gov. Bill Haslam says the state has benefited from a company hired to manage its assets, despite a comptroller's report that suggests the company may have benefited from its own advice, creating a conflict of interest.

The report released this week was from an audit of the state Department of General Services. It said amendments made to the contract with Jones Lang LaSalle allowed the company to "reap the benefits of its own recommendations," creating a conflict of interest.

The report noted that the original contract with JLL was $1 million. However, there were later five amendments that increased the company's payout by more than $6.6 million. The report said it also wasn't clear exactly what services the company was providing.

Both the state and the company disagree with the report's findings.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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