|
Monday, December 11, 2006
Oversight of Iraq Reconstruction Funds Sill Needed
On Friday we posted on a House vote to extend the term of the Special Inspector General for Iraq Reconstruction (SIGIR). Keeping tabs on how the $38 billion pledged by the United States for Iraq Reconstruction is spent is the job of the SIGIR. Released over the weekend, this CBO report delves into the ins-and-outs of Iraq reconstruction finances, and on page 5 the CBO references the work of the SIGIR:
...a recent audit report, Review of Administrative Task Orders for Iraq Reconstruction Contracts, found that relatively high overhead costs-as much as 55 percent of the contract value-were being billed to reconstruction contracts by private contractors. The greater the amount spent on overhead, the less is available for actual reconstruction. The total dollar value of the contracts audited in that report was $1.3 billion. [emphasis mine]
Fifty-five percent!?! Kudos to the House for deciding to keep the SIGIR around a little longer.
Posted by Craig Jennings
|