Initial report on audit of Mississippi Valley Conservancy released

Published On: Sep 11 2012 11:51:52 PM CDT   Updated On: Sep 11 2012 11:51:52 PM CDT
LA CROSSE, Wis. -

Months after the Wisconsin DNR and the City of La Crosse accused the Mississippi Valley Conservancy of financial discrepancies, an initial report is released.

The MVC works to protect La Crosse's blufflands by taking funding from both the city and private donors to buy up land. They then apply for re-imbursement grants from the DNR called stewardship grants.

However, an audit of the non-profit raises questions about 1.4 million dollars in the budget.

About half of that comes from the city, the other half from DNR grants. "It's been determined that there are some questions of expenditures and some questions as to whether the money should have been given to the MVC from the DNR, whether the funds were properly disclosed, whether the funds were properly expended, that's in essence the report," said Phil Addis, an attorney representing the city.

MVC's executive director says they hired their own CPA last December.

His report says all of the funds were properly spent and accounted for which contradicts the draft from the DNR's accounting report. "The Baumann report shows how that $518,000 was properly spent on land, but then they seem to suggest it's a separate amount of money that hasn't been accounted for, and that's simply untrue," said MVC Executive Director Tim Jacobson.

Jacobson was told this is one of several draft reports expected. He wasn't sure when a final report would be completed.