It turns out that $1.8 billion wasn’t just sitting in a state bank account, waiting to be spent. A $3 million dollar independent forensic audit has determined that figure was an accounting error compounded over years.
The accounting miscue was never reconciled. Some officials are asking why the error wasn't reported when it was first discovered around 2018 and whether the state treasurer, Curtis Loftis, should step down.
Loftis spoke exclusively with Tara Servatius Thursday morning on News/Talk 98.9 WORD. Loftis says critics trying to blame his office may have ulterior motives.
Loftis said "We know were every dime is, it's a reporting problem and I can't control all that. But, we know where every dime is there's no mystery bank account".
Loftis says critics trying to blame his office may have ulterior motives.
" I am not going to let others take control of the office. They (a group of State Leaders) want to appoint the State Treasurer. That's what elites around the country want. When they pick the Treasurer, they control the Treasurer. We like to think it's better when taxpayers control the Treasurer, not a few hand picked elites"
In a statement Wednesday, Governor McMaster said he is confident that corrective actions recommended in the forensic accounting review will be adopted by the General Assembly so this does not happen again.
