Ark. treasurer appears at hearing on audit
By ANDREW DeMILLO
LITTLE ROCK, Ark. (AP) - State Treasurer Martha Shoffner is appearing before a legislative panel to discuss an audit questioning her office's investment practices after not showing up at a hearing last week.
Shoffner arrived at a hearing room Monday afternoon to discuss the audit with the Legislative Joint Auditing Committee.
Shoffner didn't show up to a Friday hearing on the audit, even though lawmakers issued a subpoena for her to appear.
Legislators planned to issue another subpoena to compel her to testify before the panel's Monday meeting. Shoffner's office said she missed Friday's meeting because of a scheduling conflict.
An audit found that Shoffner's office sold bonds from its investment portfolio before they had matured and purchased similar bonds from the same brokers, resulting in a net loss of more than $58,000.Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.