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THE ASSOCIATED PRESS

Published: November 2, 2009

RALEIGH - North Carolina's state auditor says the foundation that manages half the state's national tobacco settlement money violated open meetings laws and needs better oversight of grant recipients.

The performance audit of the Golden LEAF foundation released Monday by State Auditor Beth Wood also suggests foundation investments should be better protected from risks and political influence.

Wood's review found the board at a private meeting in 2005 unlawfully approved a $15 million grant designed to lure a beverage company to North Carolina.

New foundation President Dan Gerlach says approving the grant in a closed session was wrong but only happened once. Gerlach disagrees with some findings and says the foundation is committed to transparency.

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