State financial officers across the country saved taxpayers $28 billion in 2025, according to a new report.
The State Financial Officers Foundation found its members uncovered $5.7 billion in waste, fraud and abuse while returning $22.3 billion through investment earnings and unclaimed property programs.
The report highlighted savings from 40 financial officers across 28 states. In Florida alone, financial officer Blaise Ingoglia targeted $1.86 billion in “excessive” local government spending. His office renewed a focus on targeting insurance fraud, workers’ compensation fraud and other financial fraud.
Ingoglia also returned more than $248 million in unclaimed property to Florida owners in 2025.
“CFO Ingoglia’s swift and substantial impact reflects the power of strong financial oversight to safeguard taxpayer resources, promote transparency, and reinforce accountability at every level of government,” the report reads.
Officials in Kentucky found $836 million in taxpayer-funded payments after an examination of the Kentucky Department of Medicaid Services. The payments were made without benefiting eligible recipients due to verification lapses in the program.
Allison Ball, Kentucky’s auditor of public accounts, released a report identifying $39 million in advertising costs and $7.4 million in out-of-state travel expenses from Gov. Andy Beshear.
Beshear has publicly criticized Ball’s office over the report, saying several of the reported amounts were incorrect. He also criticized the office for not conducting an official audit of the program.
“If the Governor’s criticism of this presentation is that it is not a formal audit, we never said it was,” Ball’s office wrote in a statement. “This is simply an expenditure review as to what is reported by the Governor’s administration.”
Dave Boliek, North Carolina’s state auditor, found that more than $1.04 billion in salaries lapsed across 46 state agencies due to thousands of unfilled positions.
“Auditor Boliek’s early tenure demonstrates the essential role of oversight in state government: exposing waste, strengthening transparency, and reinforcing accountability at every level,” the report reads.
Utah State Auditor Tina Cannon also uncovered more than $518 million in fraud, waste and abuse over the last year. Certain receipts included $2.8 million for a nonprofit president’s personal expenses including massages, exercise equipment and vacations to Hawaii. The Utah Department of Health and Human Services was also found spending $463.7 million inappropriately used for hospitals rather than nursing home patients.
“America’s state financial officers will continue to expose fiscal misconduct and protect the hard-earned dollars of American people,” said Utah State Treasurer Marlo Oaks. “This report makes one thing clear: when you remove independent financial oversight, taxpayers pay the price.”
The report comes as Vice President JD Vance has launched the “War on Fraud,” an effort to crack down on federal fraud in states across the country. The Trump administration paused $259 million of suspected fraudulent Medicare payments in Minnesota.
“Far too many people have gotten rich by taking what is the best of the American spirit and getting rich off of it, instead of providing services to kids who need it,” Vance said.
OJ Oleka, CEO of the State Financial Officers Foundation, praised the administration’s actions in Minnesota and called for greater transparency over federal spending in states across the country.
“When leaders have the courage to act decisively, accountability works, confidence is restored, fraud is stopped, and taxpayers come first,” Oleka said. “Strong financial officers don’t just safeguard money, they safeguard trust itself.”
