The scandal surrounding a multimillion-dollar contract involving some fraternity brothers of Fenty led to repeated charges of cronyism during the mayoral campaign.
The 258-page report, while clearing Fenty, does find a number of problems with the contract, which was awarded to rebuild the city's Parks and Recreaction centers.
It says the firms in question, which were led by Fenty friends Omar Karim and Sinclair Skinner, may have overcharged the city and may have been unqualified to do the work.
It also criticizes Karim and Skinner for not cooperating better with the investigation, which was led by D.C. attorney Robert Trout.
The report recommends the D.C. Council refer its findings to the U.S. Attorneys Office.
Virginia's attorney general Ken Cuccinelli will face former Democratic National Committee chairman Terry McAuliffe in November to become Virginia's 72nd governor.