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Old 02-05-2018, 03:52 PM
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CarlV CarlV is offline
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Pentagon agency lost 800 Million Dollars

One of the Pentagon’s largest agencies can't account for hundreds of millions of dollars’ worth of spending, a leading accounting firm says in an internal audit obtained by POLITICO that arrives just as President Donald Trump is proposing a boost in the military budget.

Ernst & Young found that the Defense Logistics Agency failed to properly document more than $800 million in construction projects, just one of a series of examples where it lacks a paper trail for millions of dollars in property and equipment. Across the board, its financial management is so weak that its leaders and oversight bodies have no reliable way to track the huge sums it's responsible for, the firm warned in its initial audit of the massive Pentagon purchasing agent.

The audit raises new questions about whether the Defense Department can responsibly manage its $700 billion annual budget — let alone the additional billions that Trump plans to propose this month. The department has never undergone a full audit despite a congressional mandate — and to some lawmakers, the messy state of the Defense Logistics Agency's books indicates one may never even be possible.
https://www.politico.com/story/2018/...22860?lo=ap_c1
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Old 02-05-2018, 05:18 PM
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Dondilion Dondilion is offline
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"The $40 billion a year agency...often has little solid evidence for where much of the money is going"


Now Trump is about to give this complex more money, while reducing taxes.
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Old 02-05-2018, 08:10 PM
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Quote:
Originally Posted by Dondilion View Post
"The $40 billion a year agency...often has little solid evidence for where much of the money is going"


Now Trump is about to give this complex more money, while reducing taxes.
Do we know where his money comes from? No, we don't know to whom he is beholden. That is worrisome.
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Old 02-05-2018, 08:10 PM
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Pio1980 Pio1980 is offline
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Quote:
Originally Posted by Dondilion View Post
"The $40 billion a year agency...often has little solid evidence for where much of the money is going"


Now Trump is about to give this complex more money, while reducing taxes.
Do we know where his money comes from? No, we don't know to whom he is beholden. THAT is worrisome.
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