LITTLE ROCK, Ark. (AP) – Treasurer Martha Shoffner says she wants to correct problems identified by legislative auditors who questioned her office's investment practices, and says she won't step down over the findings.
Shoffner told The Associated Press on Wednesday she wasn't intentionally trying to evade questions when she didn't appear before a legislative panel last week to discuss the audit. Shoffner testified before the Legislative Joint Auditing Committee on Monday after lawmakers subpoenaed her.
The audit said Shoffer's office last year sold 11 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. The chief investment officer for Shoffner's office told lawmakers Monday she advised the treasurer against selling the bonds early.
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