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Illinois Tollway: State finds more than $150 million in accounting errors
The Illinois Tollway understated more than $150 million in revenues, expenses and assets in 2008 because it failed to comply with proper accounting procedures, the state's fiscal watchdog reported Wednesday.

From The Chicago Tribune:

A new audit showed "significant deficiencies in internal control over financial reporting" at the tollway, Illinois Auditor General William Holland's office said, prompting two state legislators to call for a tougher investigation into the agency's financial oversight and accounting methods.

"What this says to me is that the tollway authority needs much more oversight to ensure they are counting all the nickels and dimes and making sure they're following best practices," said state Sen. Susan Garrett, D-Lake Forest.  Read more.

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