Posted on 07/01/2013 7:07:20 PM PDT by george76
The Illinois Lottery has "material weaknesses" in its internal financial controls — weaknesses that led to $200 million in reporting errors, a new state audit has found.
In a report that already is sparking finger-pointing and drawing the attention of key lawmakers, Illinois Auditor General William Holland concluded that the mistakes had the potential to result in incorrect financial statements being issued both by the lottery and by the state of Illinois itself.
(Excerpt) Read more at chicagobusiness.com ...
Sung to the tune of a toothpaste commercial...
‘YOU’LL wonder where the money went...
IF the Libs ever get their hands on it....’
I've read that the government has repeatedly tried to audit the IRS, but they simply have no records understandable by any accounting company.
Mark
Thanks. Added it to Chicago Crime thread
LOLOL.
Wow, what are the children going to do? Now there won’t be enough money for education...
/sarc
I’d like to see the Illinois Tollway Authority audited by an agency not in Illinois. I’m sure the records are destroyed immediately when it is legal to do so, but the money they...uhhh...”misplaced” over the last decades would no doubt make this look like dresser drawer change.
And the funny thing is that they say that organized crime is dying in Chicago...
Graft in Chicago??!!...I’m shocked I tell you, shocked.
How ‘Chicago’ convenient!
Back when Georgia’s lottery was in its infancy, some popular combination of numbers (e.g., 7777) came up on the cash 4 - I’m not sure if they were even limiting their potential exposure on such combos then (by limiting the number of plays on each).
Anyway, it hit and they had to pay out big time. Know what they did? The QUIETLY stopped putting the required number of winners in their instant tickets being printed. IOW, they were knowingly cheating the odds and not changing the odds printed on the backs of the tickets. This went on for months until they got caught - nothing done about.
All the while, most every executive and functionary in most any state lottery corporation gets whopping big bonuses every year.
I have seen quasi-governmental entities such as a medical center that gets 100% govt funding. They love sloppy books means you can steal and screw around with funds and worst case please stupidity incompetence
There are thousands of Governments in America from county (3000+ of them) on up. Thousands and thousands of gov’t agencies and some like it very very very sloppy as far as books go and DONE ON PURPOSE!
54 million found stashed in non-disclosed account subsequent California park closures due to funding shortfall, one year ago.
Chicago’s Comptroller Amer Ahmad: A muslim with connections to islamic terror
http://www.gunssavelife.com/?p=8206
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