Audit says Glendale robbed Peter to pay Paul to the tune of $6M

By Sonu Munshi

The Arizona Republic

Glendale administrators improperly took about $6 million from a city trust fund over three years to cover expenses, an internal city audit obtained by The Arizona Republic shows.

The account dropped from about $8 million in July 2010 to less than $3 million in June this year, largely because of the improper transfers, the audit notes.

The Risk Management Trust Fund, set up in 1987, is essentially a self-insurance policy to cover liability issues, such as personal injuries or property damage.

But in tight financial times, city documents show, staff members used it to pay other bills.

Continued: 

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