On the local news tonight here in San Antonio, they reported that they have found $30.1 million dollars in accounts they didn't know existed and that some of this money could go back 30 years.
How is this possible? How does government loose track of $30 million dollars while they raise our taxes because they claim they don't have enough money? How do all the financial people, tax people, auditors loose $30.1 million dollars?
Were taxes paid on this money? Was there more before they found this amount? Will someone go to prison because they didn't pay taxes on this amount of money for 30 years?
Friday, January 16, 2009
Lost & Found - $30.1 Million Dollars
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17 COMMENTS:
Well they lost track of the 300 billion...what's another 30?
Honey, the government can't do much of anything right. Most of them couldn't pass business 101. If anyone goes to jail it will some poor schmuck that didn't even know about the money.
What Waterrose said isn't too far off track either. Have a glass of wine and just enjoy your evening. In a handful of days it's only going to get worse. Big hug. :)
Doesn't surprise me at all. They could lose their head if it wasn't attached.
This happens all the time. I fully agree on your question why the auditors did not see this. I was once in troubles with auditors in a former job, when they wrote that I (the company) had made transactions and accounted them in a "miscellaneous" account. And that the transactions amounted to 40 Million Swiss Francs (= 38 Million US Dollars). Big troubles. For me. I said this is not true and asked to see the auditors report. I received it, I looked at that comment and when I saw the acccount number, everything was clear. The 40 Million was right. But it was Italian Lire!! I don't even remember how much that represented in "hard currency" like the Swiss Francs or the US Dollar. But it was not very much.
I love auditors. And income tax inspectors. For the latter it is really true, my income tax inspector is a great guy.
Slush funds get hidden most times in "fictitious" Bank Accounts until they get discovered "accidentally" when the balance of power changes hands.
It's a shame the Government can even get by with murder, so why not stealing.
You heard about this in Texas, but it hasn't made the national news. I wonder why not, given the annoyance that most people are feeling towards government at the moment.
At least they found the $30 million rather than finding out they didn't have $30 million they thought they had. That keeps happening here in my neck of the woods.
After the past couple of months in Chicago politics, nothing surprises me anymore.
I'll bet they're not going to lower your taxes, though.
Outrageous. I can't believe we still keep these people in their jobs...
To government officials, it's only money.
If they lose it, they can always print more.
Or simply raise our taxes.
I could sure do a lot with 30 million dollars! I wish I had misplace it!
the government is not as smart as people give them credit for. they don't know what they are doing, i'm not surprised.
Where did they find it? A coat pocket? ;-)
Evidently it's customary for a new mayor, city manager and city council to start new accounts......makes you wonder how many more millions are lurking out there in "old" bank accounts.
Its our fairly new city manager who discovered the mystery bank account and subsequent 30.1 million dollars. Unfortunately the money won't deter future property tax increases either, I'm sure the money was dreamed out within 10 minutes of finding it.
nothing surprises me.......not when it concerns the government.
I don'get it, that's a LOT of $$$ to lose track of!! Just think there are 49 other states that probably lose track of accounts too! Here's an idea. The governments should all look for these forgotten, lost accounts and then give Americans a year or two of tax free income. How's that sound?
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