Not enough sunlight on stem-cell program, committee finds

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There has been no shortage of controversy at the state’s publicly funded stem-cell research institute, created with $3 billion in bonds authorized by voters in 2004.

Disputes with the Legislature, concerns about potential conflicts of interest in the grant application process, and questions about whether taxpayers will ultimately recoup their investments in the program have dominated news coverage of the California Institute for Regenerative Medicine. The institute drew more unwelcome news coverage last month, when it tripled the salary of its executive director, Art Torres, after just nine months on the job. Torres, who formerly headed the state Democratic Party, saw his pay bumped to $225,000 per year.

Now a committee charged with overseeing the institute’s financial practices is calling for more transparency. The Citizens Financial Accountability Oversight Committee, chaired by State Controller John Chiang, passed a resolution encouraging the institute to adopt new rules that would require more openness about its business practices and grant distribution process.

The committee also passed a resolution urging board members and staff to post their statements of economic interest and travel expenses online.

-- Evan Halper in Sacramento