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IPFS News Link • Government Debt & Financing

Pentagon can't account for $6.5 trillion of taxpayer money – IG report

• http://www.prisonplanet.com, RT

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.


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