State agencies lost $8.8 million in assets in fiscal year 2025, the Office of the Comptroller said this week, but that number represents an improvement.

In his annual loss report, Comptroller Sean Scanlon wrote that state agencies reported asset losses totaling $8.8 million in original cost in fiscal year 2025, referring to the price of the assets at the time they were purchased, reflecting a $5 million reduction from fiscal year 2024.

When adjusted to reflect the actual value of the assets at the time of loss, the actual loss to the state was $1.6 million, the comptroller’s office said, reflecting how many items on the report “depreciated over time and after 5-10 years, most have no additional residual value.”

“My belief when I decided to start publishing these numbers was through

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