Posted on 08/20/2016 1:18:04 AM PDT by Enlightened1
The Pentagon failed to account for $6.5 trillion in its financial statement, a recently-recovered Inspector General’s report on the 2015 fiscal year said. It reveals the audit of the Department of Defense was “materially misstated.”
The army failed to provide “accurate, complete, timely and well-supported” documents that could have explained the use of trillions of dollars in quarterly and yearend adjustments.
The US military made $2.8 trillion in wrongful adjustments in one quarter alone in 2015, and $6.5 trillion for the year, but could not provide anything that would detail what it spent the money on.
There were a total of 64,321 journal voucher (JV) adjustments made in the third quarter and 142,355 by the yearend, but only 7,083 of them were supported with detailed documentation of transactions.
The IG has also found that 16,513 of 1.3 million records were “removed” from the Pentagon’s budget system during the third quarter of the 2015 fiscal year.
“Without support for why these records were removed, we could not determine whether the records continued valid transactions,” the IG said, adding that the Defense Finance and Accounting Service Indianapolis (DFAS Indianapolis) could not explain why the files were removed.
At the same time, data that Army General Funds (AGF) cited in its financial reports in both the third quarter and yearend “were unreliable and lacked an adequate audit trail,” which are necessary to confirm “accuracy, completeness and timeliness” of transactions, the Department of Defense Inspector General found.
(Excerpt) Read more at rt.com ...
The shell game to support R&D and other acquisitions continues.
These were weapons for al Qaeda.
Why is no one accountable for arming the Enemy?
HEADS SHOULD HAVE ROLLED!!!!!!!!!!!!!!!!!!!!!!!!!!!
The Russians wrote this. No need to call ‘BS’ on this, it IS bullshit. It’s from rt.com. They don’t have to put a sarc tag on anything, it’s all sarc.
The annual US. budget is under $4T. Did the total DoD budget get “lost” for 10 years running to get to $7T?
dont believe everything you read...
the ENTIRE DoD annual budget is about $650 BILLION.
for them to be missing $6 trillion, that would require no concept where any money has been spent for the past 10 YEARS
you’ll excuse me if i think the story doesn’t pass the smell test
Never mind.
Just list it under the catch-all heading of “Government Waste of Taxpayer’s Hard-Earned Dollars.”
That’s where most of the money goes, anyway.
I initially read this same report and it stated it was 6 Billion dollars that was unaccounted for.Thats bad enough,
They can’t find 6 trillion, but they can bust a Navy Seal for writing about the Bin Laden takedown and fine him over 6 million because he didn’t say ‘pretty please’ before he wrote ‘No Easy Day’.
a billion here, a billion there,
pretty soon you’re talking real money
USing the same math as our climate scientists
$6.5 trillion is 10 years worth of defense budgets so how do you lose $2.8 trillion in wrongful adjustments in one quarter alone in 2015, and $6.5 trillion for the year?
Yo-Yo wrote: "Our annual military budget is less than $600 Billion, so how do you make $2.8 Trillion in adjustments in one quarter?"
Common Core math at the DoD?
Your observation IMO is more of a and/both statement than an either/or statement.
Paging future president Trump: We may, however, have found the prime area for balancing the budget and starting to pay down our debt.
I suspect this is a mixture of sloppy paperwork and counting bad payments 2-10 times over. There probably is a small amount of actual fraud, but most of this is bureaucratic nitpicking.
They are making flying saucers. Duh.
Please remind me again, what the GAO does?
The source is “Russia Today” - take with a grain of salt...
Throughout history, all nations before they failed, had their treasuries looted by insiders in their government. Nothing new to see here I'm guessing.
How much did the State Department lose when Hillary was Secretary?
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