$6.5 Trillion - yes Trillion - unaccounted for by the Army
I literally could not breathe for a second when I saw this. And it's not me that is saying it - it is the Inspector General for the U.S. Department of Defense that is saying this. Here's the link to the DoD document. I've also posted it separately to my site as according to this Forbes article from late last year it apparently was taken down before being reposted in a different place. Key finding from the report:
“OASA(FM&C) and DFAS Indianapolis personnel did not adequately document or support adjustments made to AGF data during FY 2015 financial statement compilation. Specifically, OASA(FM&C) and DFAS Indianapolis personnel did not adequately support $2.8 trillion in JV adjustments for third quarter and $6.5 trillion in JV adjustments for yearend.”
Think about it for a second. There was a $6.5 trillion of unspported adjustments to the Army's financial statements in 2015. The total budget for the Pentagon for 2018 is $700 billion. Here's a quote from the Forbes article, citing the GAO itself on what an unspported journal voucher adjustments are:
“According to the GAO’s Comptroller General, “Journal vouchers are summary-level accounting adjustments made when balances between systems cannot be reconciled. Often these journal vouchers are unsupported, meaning they lack supporting documentation to justify the adjustment or are not tied to specific accounting transactions…. For an auditor, journal vouchers are a red flag for transactions not being captured, reported, or summarized correctly.””
I should note that this article questions whether $21 Trillion of unspported adjustments were made. I'm "only" referencing the $6.5 Trillion because that's the backup I have.
I really don't know what to say except I'm floored.