Comptroller Scanlon Publishes Annual State Loss Report
Report highlights decrease in property loss, tightening of state agency controls and standards
(HARTFORD, CT) – Comptroller Sean Scanlon today announced the publication of the Office of the State Comptroller’s (OSC) Annual Loss Report. Comptroller Scanlon instituted the annual report in 2023 to bring greater transparency to lost state government property, as well as to reinforce and improve reporting standards within state agencies.
“We began publishing the Annual Loss Report because every taxpayer dollar matters and because I believed that, through increased transparency and accountability, state agencies would strive to reduce property loss,” said Comptroller Scanlon. “They have, and through strengthened policies and increased staff awareness, we saw a $5 million decrease in lost property this year compared to 2024. This is real progress, and my office remains committed to supporting our partner agencies to improve internal procedures and safekeep taxpayer dollars.”
State agencies are statutorily required to report to the OSC illegal, irregular, unsafe handling, or breakdowns in the safekeeping of state funds and property as soon as the loss is discovered.
During Fiscal Year 2025 (FY25), state agencies reported asset losses totaling $8.8 million in original cost, which refers to the price of the assets at the time they were purchased. When adjusted to reflect the value of these assets at the time of loss, the actual loss to the state in FY24 was $1.63 million.
This year’s report was also expanded to include Department of Administrative Services’ Fleet Accident Repair costs, focusing on automobile repairs that are not due to normal wear and tear or maintenance schedules.
Comptroller Scanlon has notified state agency leaders of their FY25 aggregate losses. The OSC will continue to work with state agencies to ensure loss forms are completed and updated in a timely manner. Proper reporting will lead to increased accuracy in determining the fiscal impact to the state.
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