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Watchdog: Misreported Federal Funds Exceeding $1T

budgetA watchdog organization has found the federal government misreported $1.55 trillion in grants during fiscal year 2011, an increase over the nearly $1.3 trillion for fiscal 2010.

According to Federal Computer Week, the Sunlight Foundation found discrepancies in information posted on USASpending.gov compared information from other bookkeeping records.

The foundation said overreporting, underreporting, nonreporting, late reporting and incomplete reporting factored into its analysis, according to FCW.

In its Clearspending analysis, the foundation said the Department of Health and Human Services had nearly $800 billion in unreported funds, a sharp increase from the $495 billion not reported to USASpending.gov in 2010.

Contract spending is not included in the foundation’s analysis, the report said.

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