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Meanwhile, Pentagon’s Sloppy Bookkeeping Means $6.5 Trillion Can’t Pass an Audit

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  • Meanwhile, Pentagon’s Sloppy Bookkeeping Means $6.5 Trillion Can’t Pass an Audit

    While all our attention is diverted by the clowns pouring out of the car in the three ring circus (Hillary, Trump, and the press that follows these two idiots) this is what is going on in the other circus tent,
    Presidential elections have become nothing more than a distraction, like a magic act in Vegas.
    The Defense Department over the years has been notorious for its lax accounting practices. The Pentagon has never completed an audit of how they actually spend the trillions of dollars on wars, equipment, personnel, housing, healthcare and procurements.
    If you and I cooked the books like these thieves we would be in prison,

    A Department of Defense inspector general’s report released last week offered a jaw-dropping insight into just how bad the military’s auditing system is.

    The Defense Finance and Accounting Service, the behemoth Indianapolis-based agency that provides finance and accounting services for the Pentagon’s civilian and military members, could not provide adequate documentation for $6.5 trillion worth of year-end adjustments to Army general fund transactions and data.

    The DFAS has the sole responsibility for paying all DOD military and personnel, retirees and annuitants, along with Pentagon contractors and vendors. The agency is also in charge of electronic government initiatives, including within the Executive Office of the President, the Department of Energy and the Departing of Veterans Affairs.

    There’s nothing in the new IG’s report to suggest that anyone has misplaced or absconded with large sums of money. Rather, the agency has done an incompetent job of providing written authorization for every one of their transactions – so-called “journal vouchers” that provide serial numbers, transaction dates and the amount of the expenditure.

    Related: How the Pentagon Cooks the Books to Hide Massive Waste

    In short, the DFAS has lagged far behind in providing the tracking information essential to performing an accurate audit of Pentagon spending and obligations, according to the IG’s report.

    “Army and Defense Finance and Accounting Service Indianapolis personnel did not adequately support $2.8 trillion in third quarter adjustments and $6.5 trillion in year-end adjustments made to Army General Fund data during FY 2015 financial statement compilation,” wrote Lorin T. Venable, the assistant inspector general for financial management and reporting. “We conducted this audit in accordance with generally accepted government auditing standards.”

    A further mystery is what happened to thousands of documents that should be on file but aren’t. The IG study found that DFAS “did not document or support why the Defense Departmental Reporting System . . . removed at least 16,513 of 1.3 million records during Q3 FY 2015. As a result, the data used to prepare the FY 2015 AGF third quarter and year-end financial statements were unreliable and lacked an adequate audit trail,” the IG’s report stated.

    The troubling findings emerged from a wide-ranging audit of the capital funds and financial statements across the military services, including the Navy, the Marine Corps and the Army.

    The problem is no secret to investigative reporter Scot Paltrow at Reuters, who exposed outrageous fraud and abuse in a three-part series in 2013 called, “Unaccountable.”

    He wrote:

    “For two decades, the U.S. military has been unable to submit to an audit, flouting federal law and concealing waste and fraud totaling billions of dollars.
    http://www.msn.com/en-us/money/marke...cQi?li=BBnb4R7
    Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies.

  • #2
    Originally posted by Urban hermit View Post
    While all our attention is diverted by the clowns pouring out of the car in the three ring circus (Hillary, Trump, and the press that follows these two idiots) this is what is going on in the other circus tent,
    Presidential elections have become nothing more than a distraction, like a magic act in Vegas.


    If you and I cooked the books like these thieves we would be in prison,


    http://www.msn.com/en-us/money/marke...cQi?li=BBnb4R7
    Someone is responsible, find out who and fire them. Simple! Correct the mistakes and drive on.
    My worst jump story:
    My 13th jump was on the 13th day of the month, aircraft number 013.
    As recorded on my DA Form 1307 Individual Jump Log.
    No lie.

    ~
    "Everything looks all right. Have a good jump, eh."
    -2 Commando Jumpmaster

    Comment


    • #3
      Originally posted by Urban hermit View Post
      While all our attention is diverted by the clowns pouring out of the car in the three ring circus (Hillary, Trump, and the press that follows these two idiots) this is what is going on in the other circus tent,
      Presidential elections have become nothing more than a distraction, like a magic act in Vegas.


      If you and I cooked the books like these thieves we would be in prison,


      http://www.msn.com/en-us/money/marke...cQi?li=BBnb4R7
      Been this way for decades. Not stealing or anything like that, just broken or non-existent accounting systems so that from the top view nothing is accountable. Results in enormous waste up and down the system.

      Heck when they try to fix it with new over all accounting system it ends up as never being implemented due to being a typical government software job. So nothing fixed, billions wasted again.
      “The time has come,” the Walrus said,
      “To talk of many things:
      Of shoes—and ships—and sealing-wax—
      Of cabbages—and kings—
      And why the sea is boiling hot—
      And whether pigs have wings.”
      ― Lewis Carroll

      Comment


      • #4
        Sort sighted, "fire them" this has to have been going on for years if not decades. Start looking a Flag Officers living in million dollar homes.

        Ike was right, the military industrial complex is a get rich for those who are corrupt. Correcting the mistake isn't that easy when it is the whole weapons procurement program.
        "Ask not what your country can do for you"

        Left wing, Right Wing same bird that they are killing.

        you’re entitled to your own opinion but not your own facts.

        Comment


        • #5
          Never get caught up in one of these is my advice... I'll leave it at that...

          Comment


          • #6
            Don't forget, the Pentagon is mixed up in so many "black" projects that often cost huge sums of money that even they don't know where it really goes.

            Where do you think the bags of cash paid to the Afghan Criminal-in-Charge came from? Legitimate accounts? During wars it's easy to his massive expenditures under operational budgets and such ephemeral things as "combat losses".
            Quis Custodiet Ipsos Custodes? Who is watching the watchers?

            Comment


            • #7
              Presidents and Congressmen come and go but the money wasting machinery marches on.
              Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies.

              Comment

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