Nevada lawmakers to review report on fee accounting
Lawmakers meet Wednesday in efforts to determine whether about $3 million in fees generated by a college savings program that was overseen by former Nevada Treasurer Brian Krolicki went to the state as intended or were spent on marketing.
Krolicki, a Republican elected as the state’s lieutenant governor in November, says his handling of the savings program was done “by the book,” and he has asked the attorney general’s office to look into the issue, scheduled for review by the Assembly Ways and Means Committee.
Kate Marshall, a Democrat who was elected in November to Krolicki’s old treasurer’s position, has raised questions about the College Savings Plan of Nevada and is calling for an audit of the program.
Concerns also were voiced by the lawmakers’ fiscal analysts as they prepared for the hearing on the budget proposed for the treasurer’s office for the coming two fiscal years. Besides the fees, a late-December contract amendment that could reduce future fees also is being analyzed.
Marshall said she didn’t want to comment in advance of today’s Ways and Means hearing, other than to say she has been rapidly developing new information that could change an initial appearance of “discrepancies and irregularities that have raised significant concerns.”
“They may be easily clarified,” Marshall added. “But I haven’t been able to yet.”
In a letter sent Tuesday to legislative leaders, Marshall said she had been trying to “gather all pertinent documents” on the program but had been hampered by “the lack of historical information and documents in the treasurer’s office.”
Krolicki issued a statement saying, “In the past few days, it has been brought to my attention that there may be an administrative contract issue relating to Nevada’s college savings programs. I want to assure everyone that this has nothing to do with any of the investments related to the program.”