Some highlights from the House Oversight Committee's report on the TSA's finance, courtesy of TechDirt:
* As of February 15, 2012, the total value of TSA's equipment in storage was, according to TSA officials, estimated at $184 million. However, when questioned by Committee staff, TSA's warehouse staff and procurement officials were unable to provide the total value of equipment in storage.
* Committee staff discovered that 85% of the approximately 5,700 major transportation security equipment currently warehoused at the TLC had been stored for longer than six months; 35% of the equipment had been stored for more than one year. One piece of equipment had been in storage more than six years – 60% of its useful life.
* As of February 2012, Committee staff discovered that TSA had 472 Advanced Technology 2 (AT2) carry-on baggage screening machines at the TLC and that more than 99% have remained in storage for more than nine months; 34% of AT2s have been stored for longer than one year.
* TSA knowingly purchased more Explosive Trace Detectors (ETDs) than were necessary in order to receive a bulk discount under an incorrect and baseless assumption that demand would increase. TSA management stated: "[w]e purchased more than we needed in order to get a discount…
* TSA intentionally delayed Congressional oversight of the Transportation Logistics Center and provided inaccurate, incomplete, and potentially misleading information to Congress in order to conceal the agency's continued mismanagement of warehouse operations..
* TSA willfully delayed Congressional oversight of the agency's Transportation Logistics Center twice in a failed attempt to hide the disposal of approximately 1,300 pieces of screening equipment from its warehouses in Dallas, Texas, prior to the arrival of Congressional staff..
* TSA potentially violated 18 U.S.C. Sec. 1001, by knowingly providing an inaccurate warehouse inventory report to Congressional staff that accounted for the disposal of equipment that was still in storage at the TLC during a site visit by Congressional staff..
* TSA provided Congressional staff with a list of disposed equipment that falsely identified disposal dates and directly contradicted the inventory of equipment in the Quarterly Warehouse Inventory Report provided to Committee staff on February 13, 2012.