{"id":31810,"date":"2017-10-22T13:52:29","date_gmt":"2017-10-22T17:52:29","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=31810"},"modified":"2017-10-22T13:53:03","modified_gmt":"2017-10-22T17:53:03","slug":"this-sort-of-thing-might-be-part-of-washingtons-budget-problem","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=31810","title":{"rendered":"This Sort Of Thing Might Be Part Of Washington’s Budget Problem"},"content":{"rendered":"

The Gateway Pundit<\/a> reported yesterday that there were some serious problems with the audit of the Department of Housing and Urban Development<\/a>.<\/p>\n

The article reports:<\/p>\n

The 2015 and 2016 Fiscal Years HUD audit <\/a>needed to be restated and reissued.\u00a0 The auditors<\/a> were not able to initially perform the audit because there were too many material issues and the audit needed to be redone \u2013<\/strong><\/p>\n

…The restated audit report shows the following \u2013<\/strong><\/p>\n

The total amounts of errors corrected in HUD\u2019s notes and consolidated financial statements<\/a> were $516.4 billion and $3.4 billion, respectively<\/em>. There were several other unresolved audit matters<\/em>, 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<\/a>\u2019s refusal to sign the management representation<\/a> letter<\/em>, (2) HUD\u2019s improper use of cumulative and first-in, first-out budgetary accounting methods of disbursing community planning and development<\/a> program funds, (3) the $4.2 billion in nonpooled loan assets from Ginnie Mae<\/a>\u2019s stand-alone financial statements that we could not audit due to inadequate support, (4) the improper accounting <\/em>for certain HUD assets and liabilities, and (5) material differences between HUD\u2019s subledger<\/a> and general ledger<\/a> accounts<\/em>. This audit report contains 11 material weaknesses, 7 significant deficiencies, and 5 instances of noncompliance with applicable laws and regulations.<\/em><\/strong><\/p>\n

It’s time for HUD to straighten out its books. It might be a good idea to put someone with an accounting background in charge of the agency at least temporarily. The irony here is that if a business had financial records that were this much in error, its owners would be talking to the Internal Revenue Service and possibly sitting in jail.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Gateway Pundit reported yesterday that there were some serious problems with the audit of the Department of Housing and Urban Development. The article reports: The 2015 and 2016 Fiscal Years HUD audit needed to be restated and reissued.\u00a0 The … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[9501,11178,11177,11176,6827],"class_list":["post-31810","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-auditors","tag-community-planning-and-development","tag-financial-statements","tag-office-of-general-counsel","tag-united-states-department-of-housing-and-urban-development"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/31810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31810"}],"version-history":[{"count":2,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/31810\/revisions"}],"predecessor-version":[{"id":31812,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/31810\/revisions\/31812"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}