Audit reveals $500,000 in error by Baltimore City Department of Finance
Updated: March 20, 2024 4:21pm EDT
That's the main finding of a new audit of the Baltimore Treasury Department released this morning. 11 News reporter Tori Taylor now lives in Tory. The fundamental problem here was understaffing and lack of training. Well, at this morning's Appropriations Committee meeting, the City Auditor explained the 2021 and 2022 review of the Treasury Department's payroll division, which found a series of errors in retroactive payments, missing payment documentation, and payment contributions. It was the inconsistency of money. For employees. So what does that mean? Those mistakes meant the city had to overpay him at least $533,000 in pension arrears, which could affect his nearly 13,000 employees. The finance director explains why this happened. This covers some of the most complex periods in the history of, uh, auditing, uh, Treasury. Two years ago, the city's, uh, payroll department was at its lowest staffing level in history. What happened was a combination of the pandemic, uh, generational change and loss of talent. Good news? The city auditor said the city agreed with the recommendations and presented a plan to resolve these issues. New rates set at 5:00, city's Vacant Housing Expenditure Committee approved, live in T
Audit reveals $500,000 in error by Baltimore City Department of Finance
Updated: March 20, 2024 4:21pm EDT
A new audit of the Baltimore Department of Treasury released Wednesday morning reveals the problems that officials are investigating after the city discovered massive financial errors in its books. The city auditor outlined a review of the department's payroll department in 2021 and 2022. He found a series of errors in retroactive payments, missing payment documentation and discrepancies in payment contributions to employees. These errors required the city to intervene and resulted in overpayments. “This audit covers some of the most complex periods in the history of the Department of Treasury. Two years ago, staffing levels in the city's payroll department were at an all-time low.”What happened? , a combination of the pandemic, generational change and talent loss,” Treasury CFO Michael Moxten said, adding that Treasury agreed to the recommendations and presented a plan to resolve the issue, the auditors said.
Officials are investigating after discovering massive financial errors in Baltimore City's books.
The problem was revealed in a new audit of the Baltimore Treasury Department released Wednesday morning. The city auditor outlined a review of the department's payroll department in 2021 and 2022. We discovered a series of errors in retroactive payments, missing payment documentation, and inconsistent payment contributions to employees.
These mistakes required the city to intervene and potentially overpay at least $533,000 in unpaid pension contributions, impacting nearly 13,000 employees.
“This audit covers some of the most complex periods in Treasury's history. Two years ago, the city's payroll department was at its lowest staffing level ever. It's a combination of the pandemic, generational change and talent loss,'' said Michael Moxten, Treasury's chief financial officer.
The auditor said the department agreed with the recommendations and presented a plan to resolve the issue.
