Pentagon Agency Loses Hundreds of Millions of Dollars

posted by Kat - 

Pentagon Agency “Lost” Hundreds Of Millions Of Dollars - This news won’t help Congress members who want to bolster defense spending.A Pentagon agency is trying to explain how it lost track of more than 800-million dollars. An audit released yesterday shows the Defense Logistics Agency couldn't document hundreds of millions of dollars for construction projects and equipment expenses.

Republican Sen. Chuck Grassley expressed his concern saying “If you can’t follow the money, you aren’t going to be able to do an audit.”The money covered expenses for the fiscal year that ended in September of 2016. The agency responded to the news by saying it didn’t anticipate a clean audit and will take the information the auditors give them and work with it. 

One sentence in the statement may have given Congress a lot more to be concerned about; the agency was the "first of its size and complexity in the Department of Defense to undergo an audit.”

Source: The Hill

Kat

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