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Speaker urges independent audit of Trail Conservancy Phase 2 expansion, cites reserve shortfall
Summary
A speaker told the Audit and Finance Committee that city contracts and reserve calculations for the Trail Conservancy’s proposed Phase 2 expansion of Lady Bird Lake Park do not align, and asked the city auditor to perform an independent review before council advances Phase 2.
Diana Prechter, a member of the public, told the Audit and Finance Committee on March 26 that city parks staff are allowing contract terms to be violated in ways that could financially benefit two nonprofits, the Trails Conservancy and the Trail of Lights nonprofit.
Prechter told the committee she found “a deficiency in the reserve fund” and said the conservancy reported a nearly $500,000 loss to the IRS for the year ending December 2023. She asked the city auditor to perform “a full audit” of her Phase 2 audit request before the city advances the conservancy’s expansion request.
Why it matters: Prechter said the Phase 2 expansion — approved in part by…
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