The city of Philadelphia has misplaced more than $33 million in cash


More than $33 million has gone missing from the city of Philadelphia’s largest cash account.

“This is unacceptable, absolutely unacceptable,” City Controller Rebecca Rhynhart told KYW-TV.

City officials aren’t sure where $33.3 million went, but Rhynhart’s predecessor noticed problems with the account as far back as 2014.

An outside firm has been hired to the tune of $500,000 to try to figure out where the money has gone.

There’s a chance that the employees who were keeping up with the account may have left and no one picked up where they left off was among the possibilities.

“It could be that the money was mistakenly deposited in the wrong city account,” Rhynhart said. “It could be worse. It could be that a portion of it is actually missing or there could be theft.” – READ MORE

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