Jefferson City, Mo – An audit of the Tour of Missouri done by a private company has found the non-profit running the cycling race needs to adopt written policies and procedures for handling its finances.
Gov. Jay Nixon's administration paid $13,000 for the review, which covered all of 2008. The state provided nearly half of the race's $3.3 million budget that year.
The audit says Tour of Missouri Inc. failed to provide some monthly profit and loss statements. It also cites a lack of documentation for prior approval of travel expenses for the race's management firm.
An attorney for the Tour says the review shows the race was managed well but has room for improvement.