The Defense Department is unable to account for $8.7 billion of the $9.1 billion in Development Fund for Iraq monies in received for reconstruction in Iraq. This according to a study published today by the Special Inspector General for Iraq Reconstruction.
“This situation occurred because most DoD organizations receiving DFI (Development Fund for Iraq) funds did not establish the required Department of the Treasury accounts and no DoD organization was designated as the executive agent for managing the use of DFI funds,” the report states.
The Special Inspector General for Iraq Reconstruction (SIGIR) finds that only one Defense organization actually set up the accounts required by the Treasury.
“The breakdown in controls left the funds vulnerable to inappropriate uses and undetected loss,” SIGIR says.
The study recommends that the Secretary of Defense create new accounting and reporting procedures to avoid such mistakes in the future. It also recommends designating an executive agent to oversee progress, establishing measurable milestones, and determining whether any DoD organizations are still holding DFI funds.
(Source: Federal News Radio)
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4 Responses
They should check the pockets of the other pair of pants. Happens all the time that you forget your money there.
charvona, are you for real?
thanks Bush/Cheney for this mindless waste of life & money
Goerge Bush We all miss you.
This crazy democrats have no clue how to run a country. And thanks to this idiot Bill Clinton for this bad economy. And I really how dum people are that they blame bush for going in2 war against afganistan and iraq. DID YOU 4GET WHAT THEY DID TO US ON SEP 11 ????????????????????