Business

‘Unable to Locate’: $500K Worth of Equipment Bought With Stimulus Money Goes Missing

Unable to Locate: $500K Worth of Equipment Bought With Stimulus Money Goes MissingThe Energy Department’s Office of Inspector General (OIG) claims that it is “unable to locate” $500,000 worth of taxpayer-funded equipment purchased by a recipient of the “Advanced Batteries and Hybrid Components Program,” CNSNews.com’s Penny Star reports.

Just to be clear, a company that was awarded stimulus money claims it spent $500,000 on equipment that the OIG can’t seem to “locate.” Who, pray tell, was that company?

“The DOE said it would not be ‘appropriate’ to release the name of stimulus-money recipient where the $500,000 worth of equipment could
not be located,” Star reports.

Wow. Well. That was awfully nice of them.

The “Advanced Batteries and Hybrid Components Program” was given approximately $2 billion in stimulus cash to “support the construction of U.S. based battery and electric drive component manufacturing plants.“ The DOE has thus far ”expended” approximately $1.2 billion and has awarded grants to “30 for-profit manufacturers,” according to the OIG report.

Stating the absolute obvious, the OIG report concludes by suggesting the DOE should do more to “ensure recipients adequately safeguard equipment purchased with federal funds.”

You think?

In a section of the audit titled “Safeguarding Assets,” the OIG writes:

While recipients were required to have property accountability systems in place, one of the three recipients we reviewed had not maintained records detailing information such as the location of equipment purchased with Recovery Act funds.

In the absence of detailed inventory records, we attempted to locate property using information contained in invoices.

However, despite the assistance of recipient officials familiar with the premises and knowledgeable about the purchases made, we were unable to locate 20 of the 37 equipment items sampled.

And just to be clear, the “missing” equipment was purchased with $500,000 taxpayer dollars.

Here are some more “conclusions and observations” found in the report:

Better define regulations governing the retention of documentation supporting procurement decisions. Regulations currently require for-profit recipients to follow best commercial practices, but do not define such practices. One recipient in our sample had purchased about $24 million in equipment and services without adequately documenting purchasing decisions.

Obtain and review required audit reports to ensure the sufficiency of internal controls and compliance with laws and regulations. Of 28 program recipients, 8 had not submitted required reports.

Adding to the absurdity of the situation is the fact that this isn’t even the first time the OIG has audited the “Advanced Batteries and Hybrid Components Program.”

The first audit was conducted in April 2010. The OIG, as Star notes, explained that a “follow-up” was necessary because it wanted to evaluate “circumstances related to an allegation received by the Office of Inspector General that an employee of one recipient had unduly influenced procurement decisions and violated conflict of interest provisions.”

The second audit insists that there was no “potential conflict of interest.”

Both CNSNews.com and The Blaze reached out to the OIG for the name of the recipient that managed to “misplace” $500,000 worth of taxpayer-funded equipment.

CNSNews.com was given the following statement: “The focus of the audit was based on Department of Energy’s policy and implementation. It is not appropriate to disclose company names.”

The OIG has not, however, respond to our request [which, now that we think about, kinda’ hurts our feelings].

Comments (85)

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  • cemerius
    Posted on July 18, 2012 at 1:22am

    “500K”? ha ha ha might as well call it a nickel or a penny considering this next to the HUGE amount called “stimulus”!!! Oh yeah, “shovel ready jobs” my backside!! Stimulus that NEVER happened!!

    Report Post » cemerius  
    • rickc34
      Posted on July 18, 2012 at 9:00am

      Do you really trust Obama and his crew? Ali Obama and his forty thieves . Crony capitalism at its best,

      Report Post »  
    • JRook
      Posted on July 18, 2012 at 10:42am

      Beckett, can’t wait to see your in depth investigation into DOD spending, use of funds by military contractors and of course the effective and efficient use of $100s billions in the rebuilding of Iraq. Hint, spend some time looking at what Haliburton.

      Report Post »  
    • Secret Squirrel
      Posted on July 18, 2012 at 10:47am

      .
      I know where it went.
      Straight into Obama’s pocket.
      It’s the Chicago way.

      Jeez, that wasn’t even difficult.

      Report Post » Secret Squirrel  
    • Lothmar
      Posted on July 18, 2012 at 12:10pm

      It just causes a mess the rest of us have to clean up when you stimulate these di~jerks…

      Report Post »  
    • G-WHIZ
      Posted on July 18, 2012 at 1:41pm

      With Blah–blah and E.Witholder, this will be a non-starter….nuttin-ta-C-here…BAAAaaaaaaaa… .

      Report Post »  
    • jblaze
      Posted on July 18, 2012 at 2:08pm

      I find it rather odd that there wasn’t mountains of regulations attached to those companies awarded stimuli from the stimulus! Or is it just small businesses and struggling American citizen that the “Cass Sunstein Effect” applies to?

      Report Post » jblaze  
  • g.prunty
    Posted on July 18, 2012 at 1:02am

    oh well whats a half a billion here or there……well just demand more from the super rich!!

    Report Post »  
  • g.prunty
    Posted on July 18, 2012 at 1:01am

    boys and girls can you say Chicago style politics and money laundering not to mention kickbacks!!!!!!!!

    Report Post »  
    • loriann12
      Posted on July 18, 2012 at 9:10am

      That’s what I was thinking…do you really think the money went to “equipment?” No. it went to line someone’s pocket.

      Report Post »  
    • rickc34
      Posted on July 18, 2012 at 9:38am

      Hey anybody check Obama’s wallet? Maybe the 500k is there and never spent on equipment.

      Report Post »  
  • cookcountypatriot
    Posted on July 18, 2012 at 12:57am

    chicago gangsters love to steal……..man , is this guy corrupt

    Report Post » cookcountypatriot  
  • woodyee
    Posted on July 18, 2012 at 12:45am

    The “Advanced Batteries and Hybrid Components Program”

    Oh – too easy. The money went to a sub-unit of Obammy’s Gobblement Motors – GM…

    …and probably a few thugs as well.

    Report Post » woodyee  
  • Mikev5
    Posted on July 18, 2012 at 12:02am

    This is soooo bad I bet over half the Obummer money went directly into someones pocket this equipment was never even purchased its all smoke and mirrors pay offs to all of Obummers friends

    Report Post » Mikev5  
  • Constructionist
    Posted on July 17, 2012 at 11:59pm

    Don’t be mad at the poorly managed company. Remember, a business is not responsible for its own success, it owes its success to the government. Therefore, it logically follows that all business failure is likewise the fault of governement.

    Report Post » Constructionist  
    • FlowerBell
      Posted on July 18, 2012 at 12:27am

      And since we all have to pay for the right to use the roads and internet with more taxes can we forbid those that pay NO taxes to use the roads? Fair is fair.

      Report Post » FlowerBell  
    • Gonzo
      Posted on July 18, 2012 at 10:59am

      You’re right FB, the richest 1% should get their own lane now. In the interest of ‘fairness’.

      Report Post » Gonzo  
  • RJJinGadsden
    Posted on July 17, 2012 at 11:46pm

    Back in ‘87 when my unit was turning in our old M151A2 Jeeps in exchange for the HMMWV we had to account for every single part, nut, and bolt that was supposed to be on the Jeep. If anything was missing the exchange for that vehicle was turned down. I thought that was ridiculous then, but this BS is unbelievable. Now, our government is excellent at wasting money by the bushel basket.

    Report Post » RJJinGadsden  
    • Darmok and Jalad at Tanagra
      Posted on July 18, 2012 at 12:04am

      I know what you mean. One of my additional duties was the equipment account custodian, I had one of my Sgt. sweating because he missplaced a $30k piece of equipment, lucky for him we found that the Navy had borrowed it from us. I was more than willing to take a stripe from him, so I guess my question is, if the military can keep track of almost everything we have, why can’t the other Govt. agencies?

      Report Post » Darmok and Jalad at Tanagra  
    • RJJinGadsden
      Posted on July 18, 2012 at 12:58am

      DARMOK AND JALAD AT TANAGRA, I hear you on that, but I was talking literally nuts, bolts, and screws. Not major parts. We even had to have Jeep canvas tops repaired that were probably tossed after we turned them in. I recall sitting with my heavy duty canvas stitching awl repairing these things along with the canvas trailer covers before this turn in. And, I was an E6 at the time. I did a lot of camping on my on and had the tool in my personal gear at the time. I also sat up late one night when I first arrived in that unit an stitched our M60 barrel bags back together right before an inspection. I did wonder what they did before I arrived.

      Report Post » RJJinGadsden  
  • REPUB1
    Posted on July 17, 2012 at 11:41pm

    Well Thats Just Peachy aint It? Gee Whiz!!! No Surprise Here. Their Still Looking For That 41 BILLION DOLLARS IN Misplaced Welfare Moneys Too, But Its Nothing Next Scam Please!! No Biggy We Will Just Have To Raise Taxes On Those Whom Cant Afford It. Case Solved!!

    Report Post »  
  • Mutiny
    Posted on July 17, 2012 at 11:38pm

    Department of Energy, I think there was a GOP presidential nominee(LOL, not going to count Perry. He still doesnt know the 5 departments) that wanted to get rid of that piece of garbage.

    Report Post » Mutiny  
    • Winedude
      Posted on July 18, 2012 at 12:49am

      And he, if you’re referring to Ron Paul, has absolutely no chance of securing the nomination of the Republican Party. Give it a rest…

      Report Post »  
    • Mutiny
      Posted on July 18, 2012 at 12:53am

      Just because most of the GOP are clueless sheep doesnt make him wrong.

      Report Post » Mutiny  
  • Raging_Waters
    Posted on July 17, 2012 at 11:37pm

    Our tax dollars at work! Now it’s time to invest more in treadmills for shrimp and little bridges for endangered squirrels. These things are very important people! How dare we questions what our tax money is spent/wasted on……………

    Report Post »  
  • Rayblue
    Posted on July 17, 2012 at 11:32pm

    Nobody came knocking at 3 am and told me to ignore the loose dirt in the back yard. That only happened once and I’ve paid my debt to society. Don’t look at me like that.

    Report Post » Rayblue  
  • team1blazer
    Posted on July 17, 2012 at 11:30pm

    It‘s obvious that the government is in way over it’s head. A bunch of incompetent IDIOTS, spending OUR hard earned money like drunken sailors. (no disrespect to drunken sailors). It’s time to cut the head off of this monster.

    Report Post » team1blazer  
    • Raging_Waters
      Posted on July 17, 2012 at 11:50pm

      Tar, feather, and exile the maggots..execute punishment for the treasonous snakes..Sounds good to me!

      Report Post »  
    • NOT-A-MUSHROOM
      Posted on July 18, 2012 at 12:15am

      The Chicago way “it must have fell off the truck”

      Report Post » NOT-A-MUSHROOM  
  • JUSTANOTHEROPINION
    Posted on July 17, 2012 at 11:27pm

    Still not outraged because still not surprised.

    Report Post »  
  • ARealCharliesAngel
    Posted on July 17, 2012 at 11:24pm

    Transparency at its finest! GAG!!

    Report Post » ARealCharliesAngel  
    • Cemoto78
      Posted on July 17, 2012 at 11:32pm

      Gee, who would have ever saw this coming when the government just throws large amounts of our money out there. Somebody needs to be held accountable, if that’s even a word anymore in these Obama times.

      Report Post » Cemoto78  
  • Your Name Here
    Posted on July 17, 2012 at 11:23pm

    All businesses were saddled with the Sarbane Oxley mandates to inventory all equipment and they still don’t do what the law says? Obama is exempt from any and all laws, rules and decrees.

    Report Post » Your Name Here  
  • kaydeebeau
    Posted on July 17, 2012 at 11:22pm

    And this is the same bunch who is supposed to determine whether I get a pap smear or mammogram or an aspirin? Really?

    Report Post » kaydeebeau  
  • barber2
    Posted on July 17, 2012 at 11:20pm

    Dear Blaze : More taxpayers’ Obama Stimulus money gone missing ? So what’s new ? Signed, one of the 53% of suckers who actually pay taxes for the 47% of deadbeats the Obama Democrats are stirring up to hate us and to give them VOTES ….

    Report Post »  
  • BurntHills
    Posted on July 17, 2012 at 11:18pm

    obama embezzled it. he has been embezzling from Day One. just look at all OUR money to all the fake companies who were his big donors and who that went belly-up right after they cashed the checks. even Government Electric must be giving him kickbacks as they shipped all OUR manufacturing and jobs OVERSEAS.

    Romney: release your tax records ONLY AFTER obama releases ALL of HIS PAST SEALED Recs. they will reveal obama is NOT who he says he is. obama IS a NATIONAL SECURITY THREAT.

    Report Post » BurntHills  
  • Darmok and Jalad at Tanagra
    Posted on July 17, 2012 at 11:17pm

    Only 500k. Wow, it could be worse, we could be missing $5 Trillion and not have anything to show for it……..wait a minute……….

    Report Post » Darmok and Jalad at Tanagra  
  • chips1
    Posted on July 17, 2012 at 11:17pm

    Maybe the muslim brotherhood received an Obama endowment. Gas money to get to the nearest polling location?

    Report Post »  
  • pwatkins
    Posted on July 17, 2012 at 11:13pm

    It is way past time to impeach Obama and everyone in his administration.

    Report Post »  
    • FlowerBell
      Posted on July 18, 2012 at 12:25am

      I emailed my congressman today demanding he call for impeachment. They are too busy at cocktail parties to read these blogs. Flood your congressmen with emails, letters, phone calls demanding they impeach this nightmare in the White House. They need to actually hear from YOU, from US, from all of us everyday all day. Just look up your congressman online and email him. They will DO NOTHING until they are left with no other choice, that’s how they operate. Let’s leave them no other choice.

      Report Post » FlowerBell  
  • Babci
    Posted on July 17, 2012 at 11:11pm

    The whole “green” scam needs to be scrapped. For that reason alone, I’ll vote for Romney!

    Report Post » Babci  
    • Mutiny
      Posted on July 17, 2012 at 11:26pm

      The Blaze doesnt like my posts so I will try and re-post.

      Are you voting for global warming believing Romney or flip flopping non global warming believing Romney?

      http://www.youtube.com/watch?v=82k8MU7lmoI Mitt Romney in 2007 on Global Warming and Green Jobs

      http://www.youtube.com/watch?v=3G598Xno5qU Mitt Romney: Man-Made Global Warming Is Real

      Report Post » Mutiny  
    • booger71
      Posted on July 17, 2012 at 11:33pm

      Mutiny
      Posted on July 17, 2012 at 11:26pm

      The Blaze doesnt like my posts so I will try and re-post.
      ===============
      That’s odd, this is like the thousandth time I have seen your same post.

      Report Post » booger71  
    • Mutiny
      Posted on July 17, 2012 at 11:39pm

      @booger

      And you still dont get it? That is sad.

      Report Post » Mutiny  
    • Mikev5
      Posted on July 18, 2012 at 12:08am

      Mutiny

      Way out of context he believes in global warming he didn’t say he believed it was man made at all just global warming he is not saying much here basic politician speak that’s all keeping in the gray zone like they all do.

      Report Post » Mikev5  
    • Mutiny
      Posted on July 18, 2012 at 12:22am

      http://www.youtube.com/watch?v=YIDESZWAlz8 Minute(2:15 or so)Romney: I believe the world is getting warmer, I believe humans contribute to that.

      Report Post » Mutiny  
    • Ghengas
      Posted on July 18, 2012 at 1:10am

      He evolved.

      Report Post »  
    • johnpaulkuchtajr
      Posted on July 18, 2012 at 5:37am

      Hi Mutiny,

      I‘ll be voting for Romney because he’s the only man in the race who doesn’t hate America and all that makes her the greatest nation on Earth.

      I want a President who doesn’t invite “unindicted co-conspirators” from the Holy Land Foundation terror trial to the White House for dinner. FACT. I want the next President to prosecute every one of those s.o.b.’s and hang them in public if found guilty of treason.

      I want a President who won’t authorize his slime ball Attorney General to sell over 2,000 high caliber weapons to Mexican drug cartels. FACT, I want the next President to order the prosecution of the men responsible for the murder of US Border Agents Brian Terry and Jamie Zapata.

      I could go on and on; but, even your limited intellect should allow you to see the light. The fact that you won’t “get it” is testimony to the depth of your willful ignorance.

      Report Post »  
  • kaydeebeau
    Posted on July 17, 2012 at 11:11pm

    There isn’t enough duct tape!!!

    Report Post » kaydeebeau  
  • TelepromoterNChief
    Posted on July 17, 2012 at 11:11pm

    Whoops.
    Musta been those pesky kids from Scooby Doo and The Republicans.
    Smooth lips prison b!+ch Van Jones care to defend this green job as well?

    Report Post »  
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