I just got a call from Councilman Kevin Faulconer. He’s the chairman of the City Council’s Audit Committee, a subcommittee of the council that oversees city audits.

Faulconer said he plans to question officials at the Southeastern Economic Development Corp. over revelations this week that the agency’s president paid herself and a top deputy more than $250,000 in bonuses and extra compensation over the last four years. He said he hopes to question the officials in September.

“We are looking at the numbers part of this,” Faulconer said. “We want to determine is SEDC has sound budgeting procedures.”

Aiding the committee in that task, Faulconer said, is an audit that has been underway at SEDC since last year. That audit should be completed by September, Faulconer said.

That audit was initiated last year by Tony Young and was originally simply a performance audit. After we ran this story last year on SEDC’s budgeting practices, the Mayor’s Office requested that the audit be expanded to become a fully comprehensive audit of SEDC practices.

Faulconer said the agency’s budgetary procedure is one of the things the auditors are examining.


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