Published: Sep 21, 2010 3:51 PM EDT
Updated: Sep 21, 2010 12:51 PM EDT

TALLAHASSEE, Fla. (AP) - A Republican ad says it's Democratic gubernatorial nominee Alex Sink's fault the state pension fund lost $24 billion - a charge that's deceptive.

The state GOP is spending more than $1 million on the statewide ad that directly blames Sink, the state's chief financial officer, for the losses. GOP nominee Rick Scott approved it.

Sink has one vote on the State Board of Administration. At the time of the loss, Republicans had the other two votes: Gov. Charlie Crist and Attorney General Bill McCollum.

Like most investment funds, it lost money when stock markets began plunging in 2007, but is still considered among the strongest state funds.

McCollum and Crist later rejected Sink's idea of expanding the board to include outside financial experts.