WTVP-TV has funding withheld during investigation over its finances

The Corporation for Public Broadcasting has not released its annual funding for 2024 to WTVP-TV and said it has also asked the Office of the Inspector General to investigate Peoria's embattled PBS station.

The decision to not release the funds was made earlier in December.

In 2022, WTVP received roughly $905,000 in funding from the CPB.

In a statement the CPB said: "CPB has referred WTVP to the Office of Inspector General for further review. CPB calculated but will not release WTVP’s FY 2024 Community Service Grants (CSG) until we can learn more about the issues and determine whether proper controls are in place to ensure sound stewardship of CSG funds.”

Translation: the CPB wants to make sure WTVP has a grasp on its finances before it awards it any funding for 2024. WTVP has been mired in a financial controversy in which the station believes former CEO Lesley Matuszak and former finance director Lin McLaughlin may have approved "unauthorized" expenditures.

The board of directors is still hopeful it can secure funding from CPB.

“WTVP and the Corporation for Public Broadcasting are continuing to communicate and work closely together," board chairman Andrew Rand said in a statement. "We will provide whatever is needed to secure grant funding for WTVP.”

WTVP has been hemorrhaging money and announced in October it would cut $1.5 million from its budget in lieu of the unauthorized spending that allegedly occurred. As a result, nine employees were laid off and publication of Peoria Magazine was suspended.

A criminal investigation into WTVP is also underway. Both the Peoria Police Department and the Illinois Attorney General's Office are investigating the station's finances.

More: WTVP is at the center of a financial crisis. Here's what we know so far

This article originally appeared on Journal Star: Corporation for Public Broadcasting freezes WTVP-TV annual funding