State audit paints poor picture for Global TransPark, management
KINSTON, Lenoir County — A report from the state auditor paints a not-so-favorable picture for the Global TransPark, its former executive director and the board.
The audit, released Wednesday by Auditor Beth Wood, pointed to lack of cooperation and oversight with facts and financial statements which were brought into question. CarolinaJournal.com reported how financial statements didn't match accounting records and that management didn't have answers for why.
The report states, per CarolinaJournal.com, that an entry for $454,407 was reported to balance financial statements but management "wasn't able to provide a basis for the entry." Another part of the story said operating expenses were overstated by over $1.2 million.
CarolinaJournal.com also reported the previous fiscal year didn't find the same problems.
Allen Thomas, a Democrat running for the 3rd Congressional District seat vacated by the death of Walter Jones Jr., was the former director. After resigning as mayor of Greenville, he took over at the GTP in July 2017. He left the position on March 25 to run for the office.
Wednesday evening, Thomas was in Pasquotank County meeting with constituents and gave NewsChannel 12 his take on the Global TransPark audit situation.
It’s no secret the Global Transpark —was an underperforming asset for many years, without clear direction and had been dormant of activity.
When I was asked to consider taking it over 20 months ago I was aware of it’s reputation but— I saw great potential for Eastern North Carolina and the entire state.
I would be inheriting a operation with outdated systems, limited resources and staff dysfunction.
For years there had been no executive director, no economic developer, no marketing and a number of open positions. NCGTP had been an after-thought of previous administrations.
As soon as I stepped in and we launched into increased activity and new projects at NCGTP it became clear we would need better systems and a higher level of expertise at the Controller position.
After consulting with the finance committee and leadership we began all the processes that state government requires to make these changes.
We replaced the Controller with a new financial director and modernized systems to support increase of activity.
Every year NCGTP receives a state audit review. It is standard practice. The same Controller we had to replace had performed five previous audits without findings. There was no reason to assume this would be any different. Once it became clear the Controller was underperforming we removed the Controller, made the necessary changes and proceeded accordingly. The audit from that year reflects those changes. Growing pains of upgrading a non-performing asset into a performing asset.
In this same period we also created $73M in new investment at NCGTP, the most jobs created in a decade with double the average salaries in the regional. Launched global marketing. Announced first new multi-million in new construction projects and new aerospace jobs in years.
The NCGTP also provided a tremendous public service to the region during this same time period during Hurricane Florence hosting 2,500 first responders, military and swift water rescue teams from 35 states flying and delivering over 5,000 missions to rescue citizens and drop supplies all across Eastern North Carolina during Hurricane Florence and the flooding that followed.
We appreciate the audit findings which support the changes we made and look forward to the significant projects and activity in the pipeline at NCGTP for the foreseeable future bringing new jobs and new advanced industries to Eastern North Carolina.