A state audit released Tuesday finds that local governments and school districts in Missouri have cost themselves $43 million by not allowing competition for underwriting public bonds.
State Auditor Tom Schweich (R) cites the practice of negotiated bond sales, in which an underwriter is hired in advance and sometimes acts as a financial advisor to the local government that issues the bond.
Missouri auditor Tom Schweich had no authority to challenge Gov. Jay Nixon's decision to withhold about $170 million from the budget for fiscal year 2012 before the spending plan actually went into effect.
That was the ruling today from six of the justices on the Missouri Supreme Court. Judge Paul Wilson did not participate.
Thousands of conservatives attended CPAC St. Louis on Saturday to listen to more than 40 conservative leaders and rising stars. There were a number of last-minute speaking cancellations for the conference. Members of the US House had to stay in DC to work on a fix to avoid a partial government shutdown.
Republican Senator Roy Blunt of Missouri also cancelled, saying he was working on a deal even though the Senate wasn’t in session. That decision drew the ire of many conservatives.