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Audit finds faults in State Treasurer's Office

Illinois State Treasurer

An outside audit found problems in the Illinois State Treasurer's office. So, the new holder of the office is promising to make some changes. On Monday, Mike Frerichs released a report detailing political bias in an internship and college scholarship programs. 
Frerichs, who took office in January, says some areas of the treasuer's office need a complete overhaul, including making sure employees understand what's acceptable. 
He says the audit found the paid internship program gave positions to young people with political connections. And, scholarships were given out without "formal criteria in place." Frerichs says the treasurer's office is working on a stricter hiring process for future unpaid interns. And, they'll create rules for proper management of the scholarship money.

The report also found a lack of internal control for Illinois' unclaimed property, which now is valued at about 2 billion dollars.