A federal court hearing on the City of San Bernardino’s bankruptcy claim appears to have uncovered an unbelievable $22.6 million accounting error.
According to Reuters, an attorney for San Bernardino’s largest creditor, CalPERS “asserted in a court hearing on Tuesday that the city had $26.8 million in the bank as of January of this year – far more than the $4.2 million that the city said it had on hand.”
The $22.6 difference between $4.2 million and $26.2 is enormous.
It’s a 538% discrepancy!
That needs to be explained to people of San Bernardino.
Their failures and mismanagement of the city’s finances have earned San Bernardino the title of America’s Worst Run City.
These career politicians need to be held accountable for their abysmal performance in office.
They should not be upset when anyone points out their track record to the public.
If these politicians wanted to be praised, they should have done a better job with the offices the public has entrusted them.