Auditor cites $21 billion in errors, puts rare disclaimer on Nebraska's financial report

The State of Nebraska’s end-of-the-year financial report contained more than $21 billion in errors, according to a management letter released Tuesday by the State Auditor’s Office.

As a result, the office took the highly unusual step of putting a disclaimer on the state’s Comprehensive Annual Financial Report for the year that ended June 30. The disclaimer said state auditors were unable to verify the accuracy of the financial report.

Assistant Deputy Auditor Craig Kubicek said the auditors issued the disclaimer because they found problems with the state’s accounting process, not with mismanagement of funds.

“We didn’t see big issues with money missing or fraud,” he said. “But when the state doesn’t get a clean audit opinion, it’s a big deal.”

Read more: https://journalstar.com/news/state-and-regional/govt-and-politics/auditor-cites-21-billion-in-errors-puts-rare-disclaimer-on-nebraskas-financial-report/article_67a4a843-f464-564e-a45a-b7ec3776d4aa.html
(Lincoln Journal Star)