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Revealed: Why Baltimore City’s Annual Financial Report is More than a Year Late

October 25, 2012
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Turns out the Finance Department fucked up—to the tune of $223 million—by neglecting to account for wear and tear on the city’s roads. The depreciation mistake, combined with the water bill overbillings amounting to $4.3 million, meant that outside auditors had to be paid–get this!–$1.4 million to re-do the city’s books.

The Brew’s Mark Reutter has the full explanation here.

 

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