Pentagon’s $6.2B Surplus for Ukraine Uncovered Due to Accounting Error

The Pentagon announced that it made an error in calculating the value of U.S. military equipment it transferred to Ukraine, resulting in a surplus of $6.2 billion in equipment.

Pentagon Discovers $6.2 Billion Overvaluation in Transferred Equipment to Ukraine

Deputy Pentagon Press Secretary Sabrina Singh revealed that during routine checks of its power to transfer U.S. military equipment to Ukraine, they found errors in determining the value of the equipment.

Singh explained that in many cases, the U.S. military services used replacement costs instead of the net book value of the equipment, leading to an overestimate of its value.

Singh mentioned that when the misvaluation was discovered, the Comptroller issued new guidance on March 31st.

This guidance clarified how to value equipment in accordance with financial management regulations and Department of Defense policy, aiming to use the most accurate accounting methods.

Singh revealed that the Department of Defense overestimated by $3.6 billion for fiscal year 2023 and $2.6 billion for fiscal year 2022, resulting in a total overestimation of $6.2 billion.

She clarified that this error did not affect any past equipment transfers to Ukraine, and the Pentagon still has the authority to transfer that volume of equipment using “reclaimed” authority.

Critics Demand Accountability as Pentagon Finds $6.2 Billion Excess for Ukraine

The news of the Pentagon’s additional $6.2 billion for Ukraine has sparked outrage from both sides of the political spectrum. Former Ohio State Senator Nina Turner expressed her disbelief on Twitter.

Joe Kent, a Republican running for a House of Representatives seat in Washington, criticized the situation as ridiculous.

He demanded that the Department of Defense be accountable for every cent and provide Congress and the American public with a clear account of how the money is being used.

He even suggested using the unexpected “extra” $3 billion that Department of Defense auditors recently discovered to strengthen border security in the U.S.

Prior to the discovery of the accounting mistake, the Department of Defense estimated that it had sent over $40.7 billion in security assistance to Ukraine since the start of the Biden administration.

This includes more than $40 billion since Russia’s invasion of Ukraine on February 24, 2022.

This article appeared in Right Wing Insider and has been published here with permission.

What do you think?

Written by Western Reader

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

Biden Aware of COVID Vaccine Imperfections, Yet Implemented Mandate

Texas Governor Greg Abbott Takes Action, Signs Legislation Prohibiting Minors from Participating in Drag Shows