Has Our Government Spent $21 Trillion Of Our Money Without Telling Us?
On July 26, 2016, the Office of the Inspector General (OIG) issued a report:
“Army General Fund Adjustments Not Adequately Documented or Supported”
- for fiscal year 2015 the Army failed to provide adequate support for $6.5 trillion in journal voucher adjustments
- According to the GAO's Comptroller General, "Journal vouchers are:
--- summary-level accounting adjustments
--- made when balances between systems cannot be reconciled.
--- Often these journal vouchers are unsupported,
--- meaning they lack supporting documentation to justify the adjustment or
--- are not tied to specific accounting transactions….
- For an auditor, journal vouchers are a red flag for transactions not being captured, reported, or summarized correctly."
After Mark Skidmore began inquiring about OIG-reported unsubstantiated adjustments
- the OIG's webpage, which documented, albeit in a highly incomplete manner, these unsupported "accounting adjustments"
- was mysteriously taken down.
- Fortunately, Mark copied the July 2016 report and all other relevant OIG-reports in advance
- reposted them here (https://missingmoney.solari.com/dod-and-hud-missing-money-supporting-documentation/)
- Mark has repeatedly tried to contact Lorin Venable, Assistant Inspector General at the Office of the Inspector General.
- He has emailed, phoned, and used LinkedIn to ask Ms. Venable about OIG's disclosure of unsubstantiated adjustments, but she has not responded.
Unsupported adjustments were 54 times the level of spending authorized by Congress
- given that the entire Army budget in fiscal year 2015 was $120 billion
_________________________________________________
https://www.forbes.com/sites/kotlikoff/2017/12/08/has-our-government-spent-21-trillion-of-our-money-without-telling-us/
“Army General Fund Adjustments Not Adequately Documented or Supported”
- for fiscal year 2015 the Army failed to provide adequate support for $6.5 trillion in journal voucher adjustments
- According to the GAO's Comptroller General, "Journal vouchers are:
--- summary-level accounting adjustments
--- made when balances between systems cannot be reconciled.
--- Often these journal vouchers are unsupported,
--- meaning they lack supporting documentation to justify the adjustment or
--- are not tied to specific accounting transactions….
- For an auditor, journal vouchers are a red flag for transactions not being captured, reported, or summarized correctly."
After Mark Skidmore began inquiring about OIG-reported unsubstantiated adjustments
- the OIG's webpage, which documented, albeit in a highly incomplete manner, these unsupported "accounting adjustments"
- was mysteriously taken down.
- Fortunately, Mark copied the July 2016 report and all other relevant OIG-reports in advance
- reposted them here (https://missingmoney.solari.com/dod-and-hud-missing-money-supporting-documentation/)
- Mark has repeatedly tried to contact Lorin Venable, Assistant Inspector General at the Office of the Inspector General.
- He has emailed, phoned, and used LinkedIn to ask Ms. Venable about OIG's disclosure of unsubstantiated adjustments, but she has not responded.
Unsupported adjustments were 54 times the level of spending authorized by Congress
- given that the entire Army budget in fiscal year 2015 was $120 billion
_________________________________________________
https://www.forbes.com/sites/kotlikoff/2017/12/08/has-our-government-spent-21-trillion-of-our-money-without-telling-us/