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$2.3B accounting gap in California special funds
Jul 28th 2012, 01:55

DON THOMPSON Associated Press= SACRAMENTO, Calif. (AP) — The state controller and the Department of Finance are $2.3 billion apart in their calculations of how much money is in hundreds of special funds kept by various state agencies, officials acknowledged Friday. By the state controller's accounting, the special funds held $11.1 billion during a financial tally a year ago. The state Department of Finance says the funds held $8.8 billion. The accounting gap came to light after finance officials last week discovered nearly $54 million in two Department of Parks and Recreation special funds that had been deliberately hidden from the governor's budget office but showed up on the controller's...

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