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  • How did Philly lose track of $33 million?

    04/28/2018 6:37:17 AM PDT · by george76 · 58 replies
    Philadelphia Inquirer ^ | APRIL 27, 2018 | Claudia Vargas
    City officials are trying to figure out if $33.3 million is missing from the city’s main bank account. The discrepancy is the amount the city reports having in its records vs. what bank statements show and was first flagged in the city’s 2017 Comprehensive Annual Financial Report (CAFR), released in February. But the problem wasn’t widely known to the public until the current series of budget hearings — in which Councilman Allan Domb has peppered every city financial official about the unaccounted-for funds. “I’m flabbergasted,” Domb said as he questioned the city’s treasurer earlier this month. “There could be a...