The report from the auditor’s office is below. It is a fun read. My favorite item? “Cash receipts that were included in the amounts presented in the Department’s financial statements were $190,199 lower than the cash receipts confirmed by the State Treasurer’s Office.
Amazing. Simply amazing. Where did that $190,199 in cash money go?
Or how about:
We tested 100% of contractual services expenditures to vendors that were subject to the provisions of 29 Del. C., c. 69… In out testing of contractual services expenditures to these seven vendors totaling $16,115,718, we noted that the Department did not have the required signed contracts or vendor files, and therefore, did not adhere to the provisions of 29 Del. C., c. 69 in the selection of these vendors.
Hey, maybe they wanted the vendors for reasons other than those allowed by Delaware Code. Hmm..
I don’t know if any of this is based on malfeasance or just incompetence. Let’s see. But I do like Commissioner Stewart’s response — It’s Matt Denn’s fault.
One of the things I learned after taking office in 2009 was that the DOI’s financial reporting process needed to be improved.
Of course, if the Lt. Governor was handling the Insurance Office funds like the Weatherization Funds from the “Stimulus” Bill were handled, then maybe Commissioner Stewart has a point.