Unpacking Cincinnati’s Funding Oversight: Transparency, Accountability, and Reform
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Unpacking Cincinnati’s Funding Oversight: Transparency, Accountability, and Reform
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It is not common for a city to pay public funds to a venture capitalist.
One important development is a recent report from the city’s Internal Audit Manager issued on April 27, 2025. She audited a “Leveraged Support” partner that has been receiving $250,000 a year from the city for many years. The report includes serious findings, especially for an organization that has received more than a million dollars from the city over the last several years.
1. Contract management review and oversight need improvement.
Among the findings is missing documentation for $14,000 spent during the two years audited.
2. Payroll journals contain insufficient information to determine whether contractual terms are upheld.
This is a major finding. This means that the non-profit is not able to support its reimbursement claims for the time its employees spent working on city-related matters
3. A 3rd party is unable to verify the terms of the contract.
This is a major finding: This essentially means that the non-profit is “un-auditable.”
4. The contract language should be updated.
This suggests that the terms of the funding contract between the city and the non-profit has simply been copied from one year to the next without being updated.
Remember that this is only 1 audit of more than 200 non-profits and other external organizations that have been receiving city funding for many years.
https://youtu.be/QiBELQv7UHE