Pentagon Says It Discovered Extra $6.2 Billion For Ukraine Weapons Aid Thanks To Accounting Error

[mystery-ak]

Pentagon Says It Discovered Extra $6.2 Billion For Ukraine Weapons Aid Thanks To Accounting Error


Micaela Burrow
Investigative Reporter & Pentagon Correspondent
June 20, 2023 7:00 PM ET


The Department of Defense (DOD) overestimated the value of weapons sent to Ukraine by $6.2 billion over the past two years, a spokesperson said Tuesday, adding that the extra cash would be allocated to further aid.

An accounting error led to the Pentagon valuing weapons based on replacement costs instead of the book price for systems during fiscal years 2022 and 2023, leading to an over-accounting of $6.2 billion — twice as high as previous estimates, Pentagon spokesperson Sabrina Singh told reporters at a briefing Tuesday. The surplus money will be devoted toward additional aid packages before the current fiscal year ends, she added.

“It’s just going to go back into the pot of money that we have allocated for the future Pentagon stock drawdowns,” Singh said.

The Pentagon previously disclosed that the accounting error produced a nearly $3 billion discrepancy, The Associated Press reported. Further review of the error exposed a $3.6 billion overvaluation of weapons in 2023 and $2.6 billion in the 2022 fiscal year, which ended Sept. 30.

The revelations come as specifics on funds remaining for further security packages are unclear and the 2023 Congressional budget cycle is coming to a close, according to the AP.

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https://dailycaller.com/2023/06/20/pentagon-ukraine-weapons-aid/

[bigheadfred]

It seems pretty convenient that they can discover this accounting error when there are trillions in missing money they have never accounted for.

[Kamaji]

There is no "extra cash" - there was a certain dollar value of arms that the U.S. agreed to provide to Ukraine; the value of the arms provided to-date was overestimated, and when that overestimate was corrected, the result is that - for the very same dollar amount (and not a single penny more) - the U.S. can provide additional arms to Ukraine.

Geez, people.

[rangerrebew]

R-i-i-i-i-ght!  At the end of the Civil War, Gen. Montgomery Meigs accounted for every single penny the North spent and that was before computers.

[Kamaji]

R-i-i-i-i-ght!  At the end of the Civil War, Gen. Montgomery Miegs accounted for every single penny the North spent and that was before computers.

Accounting errors are routine at the Pentagon, and most government offices, btw.

[libertybele]

Hey, with an extra $6.2 billion discovered, I'm sure they'll use that money to secure our own borders. 

[bigheadfred]

Accounting errors are routine at the Pentagon, and most government offices, btw.

An accounting error led to the Pentagon valuing weapons based on replacement costs instead of the book price for systems during fiscal years 2022 and 2023

This seems to be a change in accounting practice and not an error. It makes me wonder what their standard accounting method is. And if they are using this method only in regard to aid to Ukraine.

[DefiantMassRINO]

I call Shenanigans against the Pentagon.

Could that $6 billion be an appropriation not approved by Congress, aka, unauthorized, illegal?

Sounds like Pentagon needs a GAO audit.

 

That must have been one huge pencil eraser to fix a $6 billion "accounting mistake".

Imagine how many billions are in the Leave-A-Penny, Take-A-Penny tray in the cafeteria.