A report from the Missouri auditor confirms that a state fund for disabled workers is insolvent.
State Auditor Tom Schweich said Friday that Missouri's Second Injury Fund had barely $3 million as of the end of 2012 but had unpaid obligations of $28 million.
The fund covers workers' compensation claims for employees who have previous injuries or disabilities and then suffer a new job-related injury. Auditors and financial analysts have warned for several years that the fund was on a path toward insolvency. But lawmakers have done nothing to address it.
A new audit says Missouri officials have overstated the economic impact of the state's main job incentive programs.
The report released Monday by Auditor Tom Schweich focuses on the Quality Jobs program, which provides tax breaks to businesses that add jobs with decent wages and health insurance.
Schweich says the projected jobs and investment reported by the Department of Economic Development has significantly overstated the amount of jobs actually created and the amount of money actually invested by businesses to improve facilities and equipment.