Posted on 06/20/2023 2:29:27 PM PDT by McGruff
The Pentagon said Tuesday that it overestimated the value of the weapons it has sent to Ukraine by $6.2 billion over the past two years — about double early estimates — resulting in a surplus that will be used for future security packages.
Pentagon spokeswoman Sabrina Singh said a detailed review of the accounting error found that the military services used replacement costs rather than the book value of equipment that was pulled from Pentagon stocks and sent to Ukraine. She said final calculations show there was an error of $3.6 billion in the current fiscal year and $2.6 billion in the 2022 fiscal year, which ended last Sept. 30.
As a result, the department now has additional money in its coffers to use to support Ukraine as it pursues its counteroffensive against Russia. And it come as the fiscal year is wrapping up and congressional funding was beginning to dwindle.
(Excerpt) Read more at abcnews.go.com ...
Not the Bee.
Yeah ok.
Let’s see if anyone is going to be held accountable. (Crickets)
How does excess spending and bad bookkeeping turn into extra funds available for the future? If the federal government was subject to the provisions of the Sarbanes-Oxley Act of 2002, many government employees and elected officials would be in jail today.
Chump change to these dumb asses.
Rounding errors. Who knew?
Overstated obligations.
Again?
Wasn’t this reported about a month ago?
Or is this another “error”?
Ain’t it funny how every error is in the direction that favors the left’s position?
The largest money laundering op in history
Can I get one of these “accounting errors”?
Maybe they forgot to figure in the depreciation.
IIRC, this is the second accounting error they have
found under this ‘administration’. The first was JUST
as large (and both were not on OUR FAVOR!)
Let’s pray the fools are better at ‘war’ than they seem
to be at accounting; hand fire arms better than cash.
I have been hearikng for many years now how SS and Medicare are going broke. But there are billions to waste on stinking Ukraine.
10% for the Big Guy
Oh, Judas Priest. Of course.
And the only place truth lives is on the left. Just ask them.
DoD has always had problems with inventory valuation. They affix the cost of the last item bought to all previously purchased items.
This is the same Pentagon that has not passed an audit in the last decade ... soon they will have a total of a trillion dollars of accounting errors on the 200 billion dollars we have passed to the crap hole (aka Ukraine).
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