Put All of the Money on the Table

[Keith Broaders]

Let's assume that there is a family in your community which consists of a man and his wife and three children. The husband and wife both have jobs that generated a total income of $8,000. They own their own home and have $100,000 in equity and have  an investment portfolio of $200,000 and a savings account with $25,000.,The An unnamed city in California which has a population of approximately 70,000 generated 33 million dollars in revenue last year from taxes and fees. The city spent 36 million and exceeded its budget by 3 million dollars.

In order to close this budget deficit, the  members of the City Council decided they would need to raise taxes and/or borrow money. One of the City Council members suggested they should consider cutting non essential services/

In addition to the revenue generated from taxes and fees, the also generated over 10 million dollars on the return on their invested assets/ The city also owns real estate with a value in excess of 200 million dollars.

The City could easily wipe our the imaginary deficit by allocating a portion of the money generated from their investment portfolio or they could sell some of their real estate holdings.

If you had a monthly budget of $6,000 a month and your car broke down, what would you do if you needed $2,000 more than you had allocated in your budget? Would you ask your boss for a raise? Would you borrow the money from the bank, or would you pay for the repairs with money from your savings account?

Many cities around the nation claim to be in financial trouble while they are sitting on hundreds of millions of dollars that are hidden in secret accounts. In order to understand how the cities, counties and states use fraudulent accounting practices to mislead the people go the Comprehensive Annual Financial Reports website at http://cafr1.com/

Unmasking the CAFR Scam in Every City in America http://realitybloger.wordpress.com/2013/02/27/unmasking-the-cafr-sc...

 

[Keith Broaders]

[Keith Broaders]

[Keith Broaders]

[Keith Broaders]

Riverside County's CAFR
http://www.auditorcontroller.org/opencms/topics_interest/CAFR.html

State of California CAFR
http://www.cafrman.com/Articles/Art-CA-S1.htm