Lawmaker asks auditor to study $1 billion TxDOT error (Update)

[Dover]

August 08, 2008

Lawmaker asks auditor to study $1 billion TxDOT error (Update)

State Rep. Ruth Jones McClendon, D-San Antonio, asked the state auditor to study a $1 billion error in the Texas Department of Transportation's books as part of an ongoing financial audit.

She noted the error was substantial and said the agency's explanation hasn't been sufficient.

She wrote that TxDOT's chief financial officer testified in April that "he first discovered the error from seeing it posted on the agency's website. That cannot possibly have been the first knowledge that anyone at TxDOT had of an error of this magnitude," McClendon wrote...>


http://blogs.chron.com/texaspolitics/archives/2008/08/lawmaker_asks_a.html

[sonias]

1. $1 billion error

:wtf: How the hell does that happen these days with computerized accounting?

San Antonio Move It Traffic blog 2/21/2008
Top leaders order audit of TxDOT
The light clicked on two weeks ago when TxDOT, which says it's going broke, announced a $1.1 billion blunder at a joint hearing of the Senate finance and transportation committees. Money had been counted twice, and so half had to be stricken from the books.

Sonia