Audit Reveals 'Questionable' Severance Packages At Connecticut Green Bank
Connecticut auditors have raised issues with what they call "questionable" severance agreements at the state’s Green Bank.
The Green Bank is a quasi-public agency created by the General Assembly in 2011. It supports clean energy projects like solar power and reducing carbon emissions.
Auditors say the Green Bank eliminated three positions but paid out nearly $150,000 in severance to the three employees. The severance packages were also not approved by the Green Bank’s board of directors.
Senate Republican Minority Leader Len Fasano says the audit shows the extent of problems with transparency and oversight of the state’s quasi-public agencies. Governor Ned Lamont directed auditors to conduct a review of the state’s 13 quasi-public agencies this week.
A spokesperson for the Green Bank says the severance was a management decision made in accordance with then-existing government procedures. The agency says it’s revising its severance process.