Posted on 07/17/2012 8:10:26 AM PDT by kevcol
An audit conducted by the Energy Department’s Office of Inspector General was "unable to locate" $500,000 worth of equipment purchased with stimulus money by a recipient of funds distributed through the deparment's “Advanced Batteries and Hybrid Components Program,” according to an audit report published by the OIG.
The DOE said it would not be "appropriate" to release the name of stimulus-money recipient where the $500,000 worth of equipment could not be located.
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This is the second audit conducted by OIG on the program. The first was in April 2010. The office said a “follow-up” audit was necessary, in part, because it wanted to evaluate “circumstances related to an allegation received by the Office of Inspector General that an employee of one recipient had unduly influenced procurement decisions and violated conflict of interest provisions.
(Excerpt) Read more at cnsnews.com ...
$500,000 !!! MMmmm. I’ll bet Jon Corzine knows where it is.
only $500K???
That’s actually very low for the Govt. No one pays attention until its over $500 million.
I thought Biden was keeping a strict accounting of the stimulus funds...... They might try asking him where it is.
That was their hope - that no one would pay attention.
Try looking at the closest strip bar or adult book store
Looters
“Now where did I put that hammer...”
Criminals watching the criminals. What a cluster ***k. ALL these bums should be in prison.
Criminals watching the criminals. What a cluster ***k. ALL these bums should be in prison.
$500K, huh? Yeah, no doubt it’s hard to track down a night on the town replete with Chivas, caviar and hookers.
No one is held accountable. No one goes to jail.
It makes my blood boil!!
Well - according to the rationale of the liberals - this should be considered a good thing - that means they will have the buy the equipment yet again - jobs created and saved twice due to the purchase of the equipment twice.
First, I’d lay odds that no equipment was bought in the first place, but that the money was given to Obama donors and unions. Second, if equipment was bought and can’t be found, why aren’t the responsible people being fired.
“I thought Biden was keeping a strict accounting of the stimulus funds...... They might try asking him where it is.”
Joe Biteme couldn’t take a bent dime out of a Coke machine!
Bump
As a former Inventory Control manager, this doesn’t surprise me much. This story refers to “Advanced Batteries and Hybrid Components Program”. I worked at a university & we had people buying parts that were individually above the capital threshold, but were being built into something much bigger. A likely explanation is that they ‘tagged’ the parts as individual units, but they now exist as one big asset & no one realizes it.
And early on in my career at the same university, a department had $600k worth of capital equipment they couldn’t find. Most of it had no doubt gone to Surplus & been properly disposed of, but no one tracked the asset numbers.
The only people in any organization who care about inventory management are the Inventory Managers.
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