Tens Of Millions Of Taxpayer Dollars Missing From Philadelphia’s Largest Cash Account
The City of Philadelphia isn’t sure where $33.3 million went from its largest cash account.
[City Controller Rebecca] Rhynhart is demanding the city’s Finance and Treasury Department find the missing money.
Rhynhart says the previous controller noticed the issues with the account as far back as 2014. Now, the city has hired an outside accounting firm to pick up the slack and find the cash at the cost of $500,000.
Funny how millions of dollars can go missing, and no one sweats it until they get a new controller.
“We need to reconcile our books. Reconcile is not missing. The notion the money is missing is not true and we’ll get to the bottom of it and correct it,” said Mayor Jim Kenney.
Uh huh. Odd thing for the mayor to say about money that is missing. I have a couple of ideas about where they can start looking. But I’m the cynical sort.