PEORIA, Ill. (25 News) – We are learning more about the significant financial concerns facing WTVP.
Records from the Sept. 6 special meeting of the WTVP Board of Directors advised more supervision of day-to-day operations and oversight of then President and CEO Lesley Matuszak.
Board Chairman Andrew Rand described a “cash burn” but stopped short of layoffs at that point.
The special meeting was called though, after a review by the National Educational Telecommunications Association, found WTVP had used $100,000 of credit capacity, and management had liquidated $320,000 from the station’s investment accounts.
But the treasurer and executive committee didn’t know about it until the draft financial statement came out in July.
Matuszak resigned Sept. 27. She was found dead in her Peoria home the next day.
On Tuesday, the board voted to cut $1.5 million from WTVP’s budget after management found “questionable, unauthorized, or improper” use of funds.
Rand has not returned WMBD Radio News’ request for an interview.
