The reserve fund dipped from $58 million in 2001 to $1.6 million in 2014.
In the report, politicians criticized Queen Elizabeth II for failing to use some of the funds on necessary repairs to Buckingham Palace, a need allegedly cited by the Queen as reason for a "raise" toward last year's budget.
PAC Chairman Margaret Hodge said "The Household needs to get better at planning and managing its budgets for the longer term - and the Treasury should be more actively involved in reviewing what the Household is doing."
[International Business Times]
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