Over Two-Billion-Dollars Lost According To State Audit
(Sacramento, CA) — The state lost over two-billion-dollars in funds due to mismanagement. Auditor Elaine Howle noted in a report that the lost money could have been used to boost affordable housing construction. Between 2015 and 2019, the state government missed their goal of building 125-thousand units a year by 106-thousand. Howle noted part of that shortfall is related to only using 800-million of a three-point-five-billion-dollar federal bond for affordable housing. The deadline to use the money was in 2017. California Treasurer Fiona Ma said they’ve revised their policy on unused funds and increased oversight on how the money is spent.
Ted Asregadoo Copyright © 2020 TTWN Media Networks Inc.