By Howard Fischer Capitol Media Services | Arizona Daily Star
The Arizona Board of Regents is leasing out property for commercial use without proper oversight and with only limited transparency, creating a “risk of inappropriate use of public resources” according to a new audit.
The sometimes blistering report by the Auditor General’s Office found a lack of written guidance for real estate policies, “increasing the risk of not ensuring that use of its property benefits Arizona and the universities.”
That includes any guidance on how universities should document the economic and tax impacts of their policies.
