Missouri treasurer disputes audit finding over $35 million in highway funds
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Missouri's state treasurer is pushing back against a new audit that found his office improperly handled more than $35 million in investment earnings tied to major highway projects.
State Auditor Scott Fitzpatrick says Treasurer Vivek Malek's office should have transferred the money into Missouri's general revenue fund instead of keeping it in accounts designated for Interstate 70 and Interstate 44 improvements.
The findings are part of an October audit that gave Malek's office an overall rating of "good," the second-highest rating on the state's four-level scale.
The disagreement centers on what should happen to interest earned on money set aside for highway construction.
Under Missouri law, that interest generally must go into the state's general revenue fund unless lawmakers specifically authorize another use.
Auditors say Malek's office lacked that authorization for the money in question.
Malek strongly disagrees, arguing the interest legally belongs with the highway projects because the money was intended for transportation improvements.
The issue was first identified in a 2025 audit, but the latest review found the money still had not been transferred as recommended. Auditors also identified additional interest earnings tied to I-44 and I-70 projects.
Malek maintains his office followed state law and argues auditors are misinterpreting how highway funds are classified.
Despite the dispute, Fitzpatrick's office found no significant problems with the treasurer's internal controls or overall management practices.
