Report: Pentagon Agency Has No Idea Where $800 Million Went

The Defense Logistics Agency in the Pentagon has reportedly “lost track” of hundreds of millions of dollars that it has spent, according to a Politico report about an internal audit.

Accountants from Ernst & Young are said to have conducted the audit and found the agency did not properly document more than $800 million in construction projects—and it’s only one of the audit’s examples of a lack of receipts and unreliable financial tracking system.

The documents, according to Politico, renew questions about whether the Department of Defense as a bureau can handle managing its $700 billion annual budget.

“If you can’t follow the money, you aren’t going to be able to do an audit,” said Iowa Republican Sen. Chuck Grassley. Read more at POLITICO.

{Maztav.com}