In Orange County — where the commissioners’ never-ending mantra is that they need more money, more money, more money — officials have discovered that several million is missing, and apparently has been missing, for several years. According to the Chapel Hill News:
Officials may take $5.9 million from Orange County’s savings account to replace money they thought they had elsewhere.
According to county Finance Director Gary Humphreys, more than $15.5 million is missing from individual capital project accounts — sort of. Most of that money, he said, isn’t really missing but was logged under the wrong accounts or line items or will come from bonds that have already been approved but have yet to be sold.
Humphreys discovered the discrepancies, most of which date back at least five years, after he was hired near the end of last fiscal year.
For a more detailed analysis of the situation, read this blog posting over in The Locker Room by Chad Adams, director of the Center for Local Innovation, which monitors activities of local government around North Carolina.
This story is a great example of why we need transparency when it comes to local budget documents and contracts. The Locke Foundation’s Joe Coletti makes his case for transparency here.
No doubt he will add this Orange County example to future analysis and commentary on the subject.
