Audit of Illinois treasurer’s office finds $1.6 billion ‘understated’ in financial statements – Center Square

The report from the Auditor General for the fiscal year that ended June 30, 2021, said testing of financial statements show uncorrected duplicate deposits between the treasurer’s office and the office of the Illinois Comptroller. “It was determined only the duplicate deposit portion of the reconciling items would have been double counted in the available cash balance reported by the [comptroller],” the report said.