State will not have to repay interest earned on Katrina fund
Published: April 11,2012
JACKSON — Attorney General Jim Hood says Mississippi won’t have to repay about $987,000 in interest the state purportedly earned on Hurricane Katrina public assistance fund.
Hood said yesterday in a news release that the Federal Emergency Management Agency ruled favorably on Mississippi’s appeal of an audit by the Inspector General.
Hood said that on appeal, the Mississippi Emergency Management Agency argued that the agreements between the state and the U.S. Treasury governed the transactions and that those rules had not been fully considered in the previous report. Hood said FEMA determined that it would not try to recover the money.
Hood’s news release said other findings of the February 2010 report were settled during the appeal “in a cooperative effort between MEMA and FEMA.”
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Drew Brees settles lawsuit alleging investment fraud
- Doctor convicted of using phony church for tax shelter
- Cochran's legal counsel asks Court to toss McDaniel's lawsuit
- Williams-Sonoma expanding, adding nearly 1,000 jobs
- Ex-Delta mayor indicted, accused of stealing city property
- Biloxi baseball project still alive but may be held for 2015
- More than half-dozen groups file charter school applications
- Travis retiring as head of Mississippi World Trade Center
- State Rep. Patterson switches from Democrats to GOP