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Inspector General’s Report Says Pentagon Cannot Account for $6.5 Trillion of Taxpayer Dough

According to an Inspector General’s report, the Pentagon managed to post $6.5 trillion in “adjustments” on its financial statement covering fiscal year 2015, adjustments for which there is no “accurate, complete, timely and well-supported” documentation that explains how any of the money was used. This information comes to us courtesy of an article over at Zero Hedge by Tyler Durden.

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Stunningly, the IG found that while there were 64,321 journal voucher adjustments made in Q3 2015 and 142,355 by the end of the year, a measly 7,083 of those were properly accounted for with the use of appropriate transaction documentation. Additionally, the IG determined that 16,513 records were simply “removed” from the Pentagon’s budget program during Q3 2015.

Putting it simply, the IG said, “Without support for why these records were removed, we could not determine whether the records continued valid transactions.” The IG further indicated that the Defense Finance and Accounting Service Indianapolis had no explanation for why any of the records were removed.

The bottom line is that without any kind of appropriate documentation to support the adjustments, we’re left assuming that the numbers were simply fabricated by the Army in order to paint a picture that its books are balanced.

For its part, Congress has established a drop-dead date of September 30 2017 for the Department of Defense to get this mess straightened out, but we all know how that kind of thing typically plays out…

By Robert G. Yetman, Jr. Editor At Large

 

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