An audit of California’s 560 “special funds” finds no more hidden assets. The audit comes after $54 million in surplus parks funds were discovered in two separate special funds accounts.
The discrepancy results from the difference in data given to the state controller’s office and the finance departments. The audit showed a $415 million difference between the two departments.
But State Finance Director Ana Matosantos says most of those differences arise from different accounting methods and timing of transfers.