**Report Watch** – The Centerra Audit – Operation **Reclaim** Loveland

Report Watch – The Centerra Audit

Hey Copilot! Any news about that final report from E&Y on the Centerra Forensic Accounting?

Yes—Ernst & Young’s final forensic audit of the Centerra Urban Renewal Plan uncovered serious irregularities, including misclassified expenses, related-party transactions without oversight, and violations of competitive bidding rules. The findings have intensified calls for accountability and reform.

Here’s a breakdown of what the report revealed and why it matters:

🧾 Key Findings from the E&Y Forensic Audit

Scope: Over $1.26 billion in cash flows were analyzed across Centerra’s metropolitan districts.
Disbursements Reviewed: Auditors scrutinized 73 cash disbursements and 9 public bid awards.
Violations Identified:
- Misclassified expenses that obscured true spending patterns.
- Related-party transactions conducted with minimal oversight.
- Bypassing of competitive bidding rules, undermining transparency and fairness.
- Spending outside approved project timelines, raising questions about compliance with the city’s master financing agreement.

🧩 Implications for Loveland

These findings validate long-standing concerns about Centerra’s financial opacity, especially around Tax Increment Financing (TIF) and developer incentives.
The audit has sparked renewed scrutiny of the Loveland Urban Renewal Authority (LURA) and its oversight mechanisms.
Council members and residents are now pressing for:
- Public release of all audit materials
- Reform of metro district governance
- Potential clawbacks or renegotiation of agreements

🧠 Strategic Framing for Advocacy

For someone like you, Protyus, this audit is a goldmine for:

Toolkit modules on fiscal transparency and developer accountability
Public comment framing that presses candidates to take a stance on audit findings
Tag clusters like “$1.26B in the shadows,” “Audit as flashlight,” or “Centerra Unmasked”

Sources:
Audit Results Regarding Centerra Urban Renewal Plan – 1310 KFKA
Reporter-Herald: Centerra audit identifies 73 potential spending irregularities

Where can I find the Report?

You can request the final Centerra forensic audit report directly from the City of Loveland’s Finance Department or explore related documents on their official website. The full report is not currently published online in its entirety.

Here’s how to access it or follow up:

🧾 Where to Look

City of Loveland Finance Department
- 📞 Call: 970-962-2655
- 📧 Email: Likely available via Finance Contact Page
Urban Renewal Authority Reports
- Visit the LURA Report Page for annual summaries
- Past reports (2020–2023) are listed; forensic audit materials may be available upon request

🔍 Related Pages to Monitor

Centerra Master Financing Agreement: Background on the original deal structure
Financial Accountability and Transparency: City’s commitment to oversight and spending rules
Annual Comprehensive Financial Reports: Broader financial context, though not audit-specific

🧩 Advocacy Tip

If you’re preparing public comment or toolkit materials, you can:

Request the full audit via email or public records
Reference the $1.26B scope and 73 flagged transactions as leverage for transparency demands
Frame the audit as a community flashlight—not just a financial document

Would you like help drafting a records request email or a printable audit summary for civic outreach?

Sources:
Financial Reports – City of Loveland
Centerra Master Financing Agreement
Annual Comprehensive Financial Report
Loveland Urban Renewal Authority Report
Financial Accountability and Transparency

Wasn’t the report supposed to be made publicly available?

Yes, the Ernst & Young forensic audit of the Centerra Urban Renewal Plan was expected to be made publicly available, especially given its public funding and the intense community interest surrounding it. However, as of now, the full report has not been published online, and only summaries or references to its findings have been shared through news outlets and city briefings.

Here’s what we know about its availability:

🧾 Public Expectations vs. Reality

City Council members and residents called for full transparency, urging that the report be released in its entirety.
The audit was funded by public dollars, which typically strengthens the case for public access.
So far, only select findings—such as the 73 flagged transactions and $1.26B in cash flow analysis—have been disclosed through media summaries and city presentations, not through a direct document release.

🔍 Where to Request It

To obtain the full report, you can:

Submit a Colorado Open Records Act (CORA) request to the City of Loveland
Contact the Loveland Finance Department directly at:
- 📞 970-962-2655
- 📧 Via Finance Contact Page

🧩 Strategic Framing for Advocacy

This gap between expectation and access is a powerful moment for public comment. You might consider framing it like this:

“If $1.26B was audited, the public deserves to see every page.”
“Transparency isn’t selective. Release the full report.”
“We can’t rebuild trust with summaries. We need the source.”

-I tried calling. I left a voicemail. I followed the link but didn’t see anything relevant. I will continue to monitor the situation. If anybody hears of the report being released, please let me know.