KSAT.com
TxDOT’s Money Management Mind Boggling
February 29, 2008
SAN ANTONIO — TxDOT has big problems managing public money, and their latest accounting errors really leave us wondering who’s minding the store over there.First, TxDOT found an $80 billion shortfall because they projected 2006 needs based on 2004 costs.Now, they’ve counted bond money twice, amounting to another $1.1 billion accounting error.TxDOT is crying poor, but they can’t even keep track of the money they have.To add insult to injury, they still ask for even more money with toll roads.They say they’ve put internal changes in place to solve the problem, but what they really need is more external oversight and serious accountability.TxDOT is still going to get nearly $17 billion in funding for the next two years.Let’s make sure they don’t mismanage it.I’m Jim Joslyn, that’s what we think. Let’s hear from you.