Getty audit.

Getty Audit: The J. Paul Getty Trust has retained its tax-exempt status after a two-year audit by the Internal Revenue Service, the Bond Buyer newspaper reported. The investigation, which covered compensation, grants and other expenditures at the trust, focused on $371 million in tax-exempt bonds issued by the California Infrastructure and Economic Development Bank on behalf of the non-profit trust. The bonds were issued to refund $95.6 million in certificates of participation used to finance construction at the Getty Museum in Los Angeles and construction at the Getty Villa, Bond Buyer reported.