I did Accounting for over 66 years.
All my client books balanced to the PENNY-—ALL OF THEM
Every penny went to donors, i.e. real estate developers and homeless “advocates” who will funnel a boatload back to the lobbyists, I mean, legislators, who author the “homeless” initiatives.
Probably an accounting error
Ditto. I’ve done a lot of balance sheet reconciliation. I would find all kinds of junk because some lazy CPA would just “write off” a dime of quarter instead of trying to figure out WHY it’s wasn’t zero.
Zero for the clearing accounts I mean. But when reconciling a bank statement they’d write off small amounts instead of figuring out why it was off.
Usually a sign of bad systems management.