2. NYC Department of Education Typo: $1.4 Million
On important documents typos and misplacing a comma for example, can have a violent financial impact on companies.
This time it was on an important document and happened because the accounting software misinterpreted the information.
Because of an extra letter added to the document regarding NYC’s Department of Education, resulted in the doubling of the budget from $1.4 million to $2.8 million.
William Thompson, a city comptroller noticed the mistake after an audit and the city had no other choice than shell out the difference.
In 2006, the NYC’s department of Education lost a lot of money because of one letter. Now you see what a single letter can do if you are not careful enough when you type a document.
