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AUDIT UNCOVERS $31 BILLION IN ERRORS ON CALIFORNIA’S BOOKS
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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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.
venturaguy
May 31st, 2014
Public employee unions – no matter how bad a job you do you cannot get fired.
crazyeighter
June 1st, 2014
Oh, this is gonna be fun!
Who brought the popcorn?
Bad_Brad
June 1st, 2014
Yea what’s funny is unless your blind deaf dumb or dead and lived in Cali, we knew it
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.
guvner jerry brown
June 1st, 2014
soo, we can SPEND $62 BILLION MORE THIS year, right???