Where is RD$141 billion?

[NewsWhore]

The headlines say that RD$141 billion have "evaporated", and that the money belonged to the Social Security fund. Listin Diario writes that 80% of the amounts invoiced as payments for pensions under the Social Security regime have not been collected, according to an audit carried out by the controller of the National Council for Social Security (CNSS) between January 2005 and July 2006. In the final report the auditors point out that invoices for a total of RD$144 billion were canceled and 97.94% of these cancellations lacked the necessary back-up documentation. In spite of the results of the audit, the CNSS has not met to discuss the issue. The non-disbursed funds are currently deposited in the Banco Popular at an interest rate of 5%, which is well below market rates. The bank was chosen by open bidding. According to the paper the system has only collected RD$27 billion, and the audit says that the bank has paid RD$2.878 million in interests and collected RD$2.627 in service fees for handling the money.
For the full story see: www.listindiario.com.do/app/article.aspx?id=13946 (http://www.listindiario.com.do/app/article.aspx?id=13946)

More... (http://www.dr1.com/index.html#4)