Dr. Ben Carson has discovered over $500 billion (that’s with a ‘B’) in errors and accounting mistakes during his audit of the Obama administration’s Housing and Urban Development budget.
“As every man hath received the gift, even so minister the same one to another, as good stewards of the manifold grace of God” (1 Peter 4:10).
One of Dr. Carson’s first orders after being confirmed as the Secretary of HUD was a thorough audit of the agency, which has been accused of fraud and over-budgeted projects throughout the entire Obama administration.
What did the auditors find? Over $520 billion in budgetary mistakes and clerical errors.
“The total amounts of errors corrected in HUD’s notes and consolidated financial statements were $516.4 billion and $3.4 billion, respectively,” said one of the auditors.
But the problems didn’t stop there.
According to the Housing and Urban Development Inspector General’s report:
There were several other unresolved audit matters, which restricted our ability to obtain sufficient, appropriate evidence to express an opinion. These unresolved audit matters relate to (1) the Office of General Counsel’s refusal to sign the management representation letter, (2) HUD’s improper use of cumulative and first-in, first-out budgetary accounting methods of disbursing community planning and development program funds, (3) the $4.2 billion in nonpooled loan assets from Ginnie Mae’s stand-alone financial statements that we could not audit due to inadequate support, (4) the improper accounting for certain HUD assets and liabilities, and (5) material differences between HUD’s subledger and general ledger accounts. This audit report contains 11 material weaknesses, 7 significant deficiencies, and 5 instances of noncompliance with applicable laws and regulations.
The auditors said the massive budgetary problems “were due to an inability to establish a compliant control environment, implement adequate financial accounting systems, retain key financial staff, and identify appropriate accounting principles and policies.” source
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