PROVIDENCE, R.I. (AP) -- An audit of a renewable energy program at Rhode Island's Economic Development Corp. found the agency overpaid grant recipients and failed to collect $1 million it was owed.
The audit released this month found several cases of sloppy accounting at the EDC's Renewable Energy Development Fund between 2008 and 2012.
According to the audit, the program paid out $700,000 more in grants than its own rules allowed and overpaid three grant recipients. Also, the program made no effort to collect $1 million in funding repayments owed to the agency.
Most of the officials who oversaw the program have been replaced and current EDC leaders say new accounting rules are in place.
The EDC was responsible for a failed $75 million investment in Curt Schilling's video game company.