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 Support The DrudgeReport; Visit Our Advertisers  AUDIT: SECRET SERVICE CANNOT ACCOUNT FOR $3.3 BILLION; COAST GUARD $497 MILLION Thu Feb 26 2004 08:44:46 ET More than $3 billion in Secret Service retirement benefits could not be adequately accounted for during a recent independent audit of the Homeland Security Department's books, CONGRESSIONAL QUARTERLY reports on Thursday. The audit also showed the Coast Guard could not account for $497 million in "operating materials and supplies," according to a Feb. 13 memo from DHS Inspector General Clark Kent Ervin to Secretary Tom Ridge. CQ's Justin Rood: "The memo is a summary of a report prepared by independent auditor KPMG on an audit of the agency's financial operations for the final seven months of fiscal 2003." Coast Guard financial statements, the memo noted, "had never been audited on a stand-alone basis." It said the Secret Service "has already started corrective actions related to its retirement benefits." The inspector general's office declined to comment on the memo. The audit "confirms my concerns about weak financial management controls across [Department of Homeland Security]," Rep. Martin Olav Sabo, D-Minn., ranking member of the Homeland Security Appropriations Subcommittee, said in an e-mail. Developing... |
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