DoD Whiffed on Spending $28B as It Ran Out of Time

The Defense Department lost out on $28 billion at the end of fiscal 2018 because it let authority to spend the funds expire, according to a report by its inspector general on results of the Pentagon's first-ever audit.

Money appropriated by Congress expires if it isn't spent within certain time frames and typically can no longer be used for new spending, according to the IG report.

The Defense Department said that the $28 billion spans five years, starting in fiscal 2013.

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