Audit Finds Over $1.5 Billion In State of Montana Investment Accounting Errors

A legislative audit released Wednesday found over $1.5 billion worth of financial reporting errors in nearly $18 billion of Montana state and local government investments.

The Montana State Board of Investments has the sole authority to invest nearly $18 billion in public retirement system money and state workers compensation insurance funds.

An audit found that the investment board improperly presents and discloses information in financial reports. That’s according to legislative staff who briefed a legislative committee about the annual check-up today.

By Corin Cates-Carney

http://mtpr.org/post/audit-finds-over-15-billion-state-investment-accounting-errors