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
- Alcorn president launches new customer service task force
- NEW IN MADISON COUNTY — Mississippi Bio-Medical Business Collaboratory to be introduced Friday
- Court rules against Greenwood councilwoman; must give up office
- David Duval, former British Open winner, joins Sanderson Farms field
- GreenTech holds grand opening of neighborhood electric vehicle plant
- Turner Grain’s bankruptcy will help consolidate lawsuits alleging breach of contract
- Cochran continues to reach out to African American voters
- Peoples Bank reports quarterly loss due to bad loans
- Senators write letter over Waters of the United States proposal