The Special Assets Society is once again under the Comptroller's scrutiny after multimillion-dollar findings
The Comptroller's Office announced close monitoring of the SAE's management. Photo: Courtesy - SAE / A.P.I.
TL;DR
- The Comptroller General's Office found fiscal irregularities amounting to $8.839 billion in the SAE's management of assets.
- The audit identified 22 administrative findings, with 11 having fiscal implications and 17 potential disciplinary ones.
- Deficiencies were noted in asset administration, eviction procedures, oversight of custodians, and information systems for inventory management.
- Failures in contract management included missing required insurance policies, unauthorized subleases, and improper discounts on rented properties.
- Vehicle management issues, including long storage periods, resulted in $1.090 billion in warehousing costs between 2021 and 2025.
- Weaknesses in internal control office evaluations hindered timely detection of irregularities.
- The Comptroller's Office will monitor the SAE's corrective actions and improvement plan.