Kansas Bioscience Authority funds on hold

AP News
Posted: Jan 25, 2012 10:31 AM
Kansas Bioscience Authority funds on hold

Gov. Sam Brownback's administration is withholding the payment of about $22 million in state revenue to the Kansas Bioscience Authority.

The money is part of the KBA's annual appropriation of $35 million approved by legislators in the 2011 session.

Administration officials say the KBA has enough money in its accounts to meet its obligations for investments to bioscience companies.

The state revenue is typically paid to the authority in the fall of each calendar year. But it's been on hold while auditors conducted a forensic investigation of the bioscience authority and its management.

Outside auditors said this week they found instances of document destruction, misuse of funds and questionable management by former CEO Tom Thornton. He resigned last April and has repaid about $4,600 to the KBA.