GRDA officials defend expenditures under challenge
Sunday, April 13th 2003, 12:00 am
By: News On 6
(Tulsa-AP) -- Grand River Dam Authority officials are defending nearly $2-million dollars in expenditures.
The expenses include a deferred compensation plan state auditors have challenged.
An audit released last week shows the authority put $985,000 into a special pay plan for top administrators.
An attorney general's opinion in 2002 said the compensation package was not allowed by state law.
State Auditor and Inspector Jeff McMahan's office recommended the agency dissolve the plan and return the funds to the authority.
The Grand River Dam Authority has suspended transactions in the plan.
The compensation plan has a balance of $978,000 after paying more than $42,000 to one employee.