May 16, 2018
For the last few years, city officials have been trying to track down $33 million in taxpayer money that went missing.
What is on the official books versus what bank statements are showing are two very different things — and no one knows what happened.
“It could be the money was mistakenly deposited in the wrong city account,” City Controller Rebecca Rhynhart said. “It could be worse. It could be that a portion of it is actually missing or it could be theft.”
On Wednesday at 3:30 p.m. City Council will meet yet again to discuss what happened, who’s responsible and how to resolve it.
.@PHLCouncil has requested the presence of @PhilaController, the Treasurer's office, & Finance office to answer outstanding questions about the Administration's financial reconciliation procedures. Today at 3:30.https://t.co/gqqU2kLRFp #PHLBudget— Darrell Clarke (@Darrell_Clarke) May 16, 2018
Last Wednesday the council questioned City Treasurer Rasheia Johnson about
the city’s accounting practices.
Here’s a full breakdown of that session.
The city has known about these issues as far back as 2014, when a few employees in the treasury office responsible for daily bookkeeping left their jobs.
The accounting firm Horsey, Buckner & Heffler LLP has been hired to look into the issue.