State auditor releases investigation of Iowa City Area Development Group finances

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State Auditor Rob Sand released findings of a special investigation of the Iowa City Area Development Group after $466,874 allegedly was improperly spent with an unauthorized credit card established by former ICAD office manager Sheri Jelinek. The auditor’s office investigated spending from Dec. 12, 2003, to March 14, 2017, and found an additional $46,903 of unsupported disbursements. Jelinek resigned from her role Jan. 13, 2017, and ICAD was not aware of the alleged credit card until a vendor notified the company of its payment expiration on March 6.