Where did $50 million go? Auditors find loose ends from last year’s budget
Maryland government agencies will have to reconcile more than $50 million that was misplaced, forgotten or unaccounted for in fiscal 2009, according to an audit released this week.
The Office of Legislative Audits looked at the closeout of the fiscal year, and found that several agencies miscalculated their assets or debts at the end of last June.
The explanations range from federal cash that never got claimed to money that was counted twice. Officials said the damage would likely be spread around the responsible state agencies, or rolled over to next year.Read More