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Last updated on Thursday, May 4, 2017
(BLOOMFIELD) - The Utilities District of Western Indiana REMC board of directors has placed the cooperative’s CEO on administrative leave pending the results of an internal audit.
A press release from the UDWI board of directors says pending the audit, the board voted to place CEO Brian Sparks on a paid leave of absence. Sparks has served as the cooperative's CEO for 10 years.
Manager of HR and Compliance Mike Chapman and Manager of Operations and Engineering Shane Smith will assume interim responsibilities during the audit.
"As a cooperative member-led organization, the Utilities District of Western Indiana (UDWI) takes seriously its responsibility to fiscal stewardship and to proper accounting and reporting of all financial matters," it posted on its website.
The Board of Directors has retained an independent accounting firm to perform an internal control audit of UDWI's financial records.
"Our Board recognizes the significant nature of these actions and has considered all implications of such actions. We will fully support the findings of the independent audit process and will determine next steps when the audit process has concluded," the statement reads.
No further comments will be made by the board until the audit is completed. Chapman says at this time, there is not a time table in which the audit will be completed.
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