TN Audit Critical Of Company Hired To Manage Assets

Nov 14, 2013

Tennessee Gov. Bill Haslam says the state has benefited from a company hired to manage its assets, despite a comptroller's report that suggests the company may have benefited from its own advice, creating a conflict of interest.

A report released this week by the state Department of General Services says amendments made to the contract with Jones Lang LaSalle allowed the company to "reap the benefits of its own recommendations," creating a conflict of interest.

The report noted that the original contract with JLL was $1 million, but five amendments increased the company's payout by more than $6.6 million .

The report says it also wasn't clear exactly what services the company was providing.