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AUDIT UNCOVERS $31 BILLION IN ERRORS ON CALIFORNIA’S BOOKS

Home - by - May 31, 2014 - 23:15 America/New_York - 6 Comments

Breitbart CA

An audit of California’s books by the Bureau of State Audits has uncovered errors totaling $31 billion.

CBS 13 reported the results of the audit Thursday. It found:

  •  $7.7 billion – Understated federal trust fund revenues and expenditures
  • $653 million – Overstated general fund assets and revenues
  • $8 billion – Overstated California State University’s bond debt
  • $9.1 billion – Reporting error that understated a public building construction fund

In addition, there was one case in which a figure was reported as $6.2 billion, when it was actually $6.2 million. After reviewing the errors uncovered by the audit, John Corless, a Sacramento State accounting professor, told CBS 13, “Someone’s not using their equipment right, and they’re not using their heads.”

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» 6 Comments

  1. D B Cooper

    May 31st, 2014

    Moonbeam can get J Corzine to come in and explain

    sometimes shit just gets lost and never turns up

    again.

    Thumb up +6

     
  2. venturaguy

    May 31st, 2014

    Public employee unions – no matter how bad a job you do you cannot get fired.

    Thumb up +4

     
  3. crazyeighter

    June 1st, 2014

    Oh, this is gonna be fun!

    Who brought the popcorn?

    Thumb up +1

     
  4. Bad_Brad

    June 1st, 2014

    Yea what’s funny is unless your blind deaf dumb or dead and lived in Cali, we knew it

    Thumb up +3

     
  5. Tinman

    June 1st, 2014

    Millions. . .Billions?!? It’s all the same, right?? This is what happened when we reached Trillions territory, guberment started treating millions like we treat pennies.

    Thumb up 0

     
  6. guvner jerry brown

    June 1st, 2014

    soo, we can SPEND $62 BILLION MORE THIS year, right???

    Thumb up +1