Audit: Calif. Might Have Lost $3B in Stimulus Funding

In a report sent to Gov. Jerry Brown (D) and the Legislature last week, state Auditor Elaine Howle said that the state might have lost up to $3 billion in federal stimulus funding because it failed to spend the money in time. According to the report, California has been awarded $38.8 billion in stimulus funding, with spending deadlines ranging from September 2010 to September 2013. As of March 31, $8.6 billion -- or 22% -- of the funding was unspent. The report notes, "Any unspent funds for these grants after the respective deadline must revert to the federal government."

Scott Zettlemoyer
Unfortunately this is good news. Less money for the State to put in the pockets of friends of the elected and powerful.

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