Ahead of State Audit Committee Meeting, Spartz Seeks Accountability for Iedc and Leap

September 16, 2026 Press Release WASHINGTON, D.C. — In light of the upcoming September 29 meeting of the Indiana Legislative Council Audit and Financial Reporting Subcommittee, Rep. Victoria Spartz (IN-05) sent a letter to the Subcommittee raising serious concerns about the adequacy of state audit and legislative oversight of the Indiana Economic Development Corporation (IEDC) and the rapidly expanding LEAP Research and Innovation District. Under Indiana law, the Subcommittee has statutory responsibility for independent review and oversight of the State Board of Accounts (SBOA) and the state examination process, including reviewing examination reports, internal accounting controls, and corrective actions. “Indiana taxpayers deserve to know what happened, why our existing audit and oversight mechanisms failed to identify these serious problems, whether any wrongdoing occurred, and whether anyone should be held accountable,” said Rep. Spartz . “With significant state and federal resources involved, we need proper independent oversight—not just changes in policies going forward.” State Audit and Legislative Oversight Rep. Spartz’s letter raises questions about oversight of IEDC and LEAP as IEDC’s funding, authority, land holdings, contractual commitments, and development activities expanded significantly beginning in 2022. The letter asks how IEDC’s changing risk profile was evaluated under the State’s risk-based examination process; what oversight the Subcommittee conducted of IEDC, IEDF, and LEAP; what actions were taken following prior audit findings; and why significant governance, contracting, conflict, internal-control, and compliance concerns subsequently identified by FTI Consulting were not identified through the existing examination and oversight process. The October 2, 2025 FTI forensic review identified 45 findings and observations involving governance, internal controls, contracting, conflicts, compliance, and financial oversight. FTI also expressly stated that its work was not an audit or comprehensive investigation and was not designed to identify all errors, irregularities, or potential fraud. Rep. Spartz is asking the Subcommittee to address these matters at its upcoming meeting and has offered to participate in the discussion. See letter to the Indiana Legislative Council Audit and Financial Reporting Subcommittee HERE . Additional GAO Inquiry Rep. Spartz also sent an additional inquiry to the U.S. Government Accountability Office (GAO) requesting a federal review of IEDC and LEAP, including federal funding, financial controls, compliance, and federal agency oversight. This GAO inquiry is separate from Rep. Spartz’s earlier request concerning the Citizens–Lebanon water project and its use of federally capitalized Drinking Water State Revolving Fund financing. See letter to GAO HERE .