Photo Credit: Gannett Government Media Corp
**CAF NOTE: Wow. Now we are backing off from audited financial statements as required by law as of 1995 to postponing an audit of the budget. What in the world is an auditable budget? And where is the 4 trillion dollars missing to date that we know about? Lord only knows the amounts we don’t know about**
By Sean Reilly
The Defense Department has retreated from plans to be capable of conducting a full budget audit by the end of next September.
Under a timetable announced in October 2011 by then-Defense Secretary Leon Panetta, the Pentagon intended to produce a fully auditable “Statement of Budgetary Resources” in fiscal 2014. Now, it has scaled back that goal to cover a more limited “Schedule of Budgetary Activity,” a spokesman, Navy Cmdr. William Urban, said Tuesday. While the Schedule of Budgetary Activity covers about 77 percent of funds, it does not include appropriations from previous years, he said.
