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National Public Issue Webinar Series - 2018 Economic Vulnerability and Poverty

$21 Trillion in Unsupported Adjustments in the Departments of Defense and Housing and Urban Development: Implications:

On July 26, 2016, the Office of the Inspector General (OIG) issued a report “Army General Fund Adjustments Not Adequately Documented or Supported”. The report indicates that for fiscal year 2015 the Army failed to provide adequate support for $6.5 trillion in journal voucher adjustments. This is not the only report with large adjustments; the webinar presenter, Dr. Skidmore compiled official government reports between years 1998-2015, which indicate $21 trillion in unsupported adjustments. According to the GAO's Comptroller General, journal vouchers are summary-level accounting adjustments made when balances between systems cannot be reconciled. Often these journal vouchers are unsupported, meaning they lack supporting documentation to justify the adjustment or are not tied to specific accounting transactions. The learning outcomes for this webinar are to explore these adjustments, discuss potential impacts on economically vulnerable populations, and the implications for citizens in general and Extension, specifically related to personnel benefits and federal retirement. Find more information at https://www.forbes.com/sites/kotlikoff/2017/12/08/has-our-government-spent-21-trillion-of-our-money-....
Mark Locklear (Guest)

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About the Extension Foundation

The Extension Foundation was formed in 2006 by Extension Directors and Administrators. Today, the Foundation partners with Cooperative Extension through liaison roles and a formal plan of work with the Extension Committee on Organization and Policy (ECOP) to increase system capacity while providing programmatic services, and helping Extension programs scale and investigate new methods and models for implementing programs. The Foundation provides professional development to Cooperative Extension professionals and offers exclusive services to its members. In 2020 and 2021, the Extension Foundation has awarded 85% of its direct funding back to the Cooperative Extension System, 100% of funds are used to support Cooperative Extension initiatives. 

This technology is supported in part by New Technologies for Ag Extension (funding opportunity no. USDA-NIFA-OP-010186), grant no. 2023-41595-41325 from the USDA National Institute of Food and Agriculture. Any opinions, findings, conclusions, or recommendations expressed in this publication are those of the author(s) and do not necessarily reflect the view of the U.S. Department of Agriculture or the Extension Foundation. For more information, please visit extension.org. You can view the terms of useat extension.org/terms.

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