Posted on 03/14/2023 5:16:49 PM PDT by buckalfa
COLUMBIA, SC (WSPA) – Members of the South Carolina House of Representatives voted to reduce the salary of a constitutional officer.
Monday night, the House passed an amendment to their budget proposal that would cut Comptroller General Richard Eckstrom’s salary to $1.
“This is in regards to what I’m calling the $3.5 billion whoopsie,” said Representative Heather Bauer (D-Richland).
Rep. Bauer was referring to an accounting error lawmakers learned about in February. Comptroller General Eckstrom informed senators about a $3.5 billion overstatement of the state’s cash balances.
The number was reported in his office’s annual financial report. According to Eckstrom, it was corrected last fall.
Over the last few weeks, a Senate Finance subcommittee has been investigating the error.
“We’re hearing that it’s a mapping error and a coding error but clearly the responsibility with this report lies with the state Comptroller General,” said Sen. Larry Grooms (R-Berkeley).
The subcommittee finalized recommendations in response to the error Tuesday afternoon. They are expected to be released Wednesday.
I've been in jobs where you check the numbers, check them again, and check them again.
And check them again.
If multiple people in his office didn't notice a $3.5 billion ballooning of the state’s cash balances, there's a problem there.
Such nonsense. I have been a CFO. After you get a report, you go home, enjoy the evening, and the next day common sense will tells you it doesn't make sense. Bugger the computer.
I third the motion.
Some lower level person probably made a comment about this. But was then told to go make coffee.
I like the idea of a salary reduction in this case. The people in that department will likely go on to illustrious careers in the land of wokedom.
Ha ha!!!
https://www.postandcourier.com/politics/junior-staffer-caught-3-5b-error-sc-comptroller-struggles-under-questioning/article_47da349c-ae4c-11ed-97ef-6f2ddf3d4c82.html
............
A person with 3 years on the job found the error first.
I can make a highly educated guess about some details about the office personnel.
When I used to have to prepare documents, especially those that involved numbers, I proof read them several times. However, knowing that one sees in the documents they prepared what they THINK they typed in rather what they actually entered, caused me to have a back up method for accuracy.
I had a trusted co-worker who worked with me to review each other’s documents. I would give her a print-out of the document I prepared, then I would read from the documents from which I compiled the information. I’d read out “67.4” and she would say, “mine says “76.4”. Ooops, an error had been found. There is no excuse for such a major failure.
My immediate boss (the big boss) would do the same with me on documents he prepared. He approved of me using this method with my co-worker since he trusted her as well so I wasn’t doing this without approval. I did the same for her on important documents, whether in mathematical spreadsheets or other such reports. It’s amazing the places where you type “your” instead of “you’re” or “them” instead of “then”, along with many other typos that you will not catch on your own proof-reading. “Hte” instead of “the” was one of my worst common typos before spell-check came along to catch those errors.
Side note: You will probably find an error in the paragraphs above, even those I proof-read before hitting “post”.
LOL!
You called it! :)
Check post #5 above - the Emperor's New Spreadsheet.
I wonder if he used his work time to schedule and promote homo activities. It wouldn’t surprise me.
Must not know how to run Quickbooks.
The number was reported in his office’s annual financial report. According to Eckstrom, it was corrected last fall.
State senators investigating the error have since said Eckstrom’s office under reported about $500 million held by the S.C. Department of Transportation and the college and universities overstatement was as large as $4 billion, bringing the total amount misstated to $4.5 billion.
It ain’t their money. They don’t care to be accurate.
3,500,000,000
That should be a good reason to keep math higher up on the education board.
Of course trying to launder it through government excess is quite crafty.
Just sayin’
Then/them is misused probably more than any two words, IMHO.
NEVER used Quickbooks.
Did Manual books for years for over 20 years.
Then got Dac Easy accounting program.
Last client retired a year ago.
Did his books for 53 years.
You haven’t missed anything. I used Peachtree for a number of years, it was suited more to professional accountants than QB IMO. However, QB has cornered the market.
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