BIA members, have you ever heard of the comprehensive annual financial report? Do you even know what it is? Let me tell you a short story. We all know of or witnessed what happened on September the eleventh, 2001. Yes it was a tragic day, and blessed be the innocent and victorious dead. Out of the ashes on that un-eventful day, the truth was revealed. However, how many of you were blinded by your beloved media outlets? Let me explain. The great public school deception was exposed in the year 2008 and it will continue to unravel. This happened to a local school district here in Colorado. They wanted to issue new school bonds...stating that they would have a short fall of cash for operational purposes...etc.
Well, the request did not set right with a committe of concerned parents. After all, the school district was re-financed thru the issuing bonds the previous 3 years before. So an investigation was birthed... and what was discovered was mind boggling. The investigation un-veiled that the school district had "two" sets of accounting books. How extensive was this deception? We discovered that the School District had taken our excess "tax" dollars and invested in Wall Street's Lehman Brothers when they bellied up in the year 2008! In other words...the School District(corporation)..and they are; had their own little investment portforlio..all burned/liquidated on 9/11/01.
VERY IMPORTANT Read the Notes in your State, County/City, and School Districts Comprehensive Annual Financial Report.
They should break down the allocations for investments. You may also find investments that are not disclosed and kept separate from the balance sheet on the same report. Make sure to have several other citizens learn with you, making the discovery along with you.
Guess what ... Most States, Counties and School Districts are funding their own bond issuances, tagging the taxpayer for repayment of the bonds that are funded with their own state’s investment funds .... This being done under irrevocable trusts with the funds being taken off the balance sheets until maturity of the bonds. Look for the bond dividend yield which is mandatory for disclosure within the notes of the CAFR ....
This is how it works.
Well ... The foxes have been writing the laws on how many chickens they can eat from the hen house. At first, out of our 3000 chickens, we gave them 100 per year. They ate them and said they need 200. So we gave them 200. They ate them and then said they needed 400. So we gave them 400 but we started complaining saying enough is enough. So the foxes said they needed 440, justifying 440 with any logic available to them but realizing we were complaining about giving them 100, then 200, then 400, they, in their wisdom, started to put 150 aside each year in their own hen house held by them and undisclosed to us. Well after many a year, in the foxes own hen house they have collected 6500 chickens (total available revenue not tied in directly with the publicly known operating budget) as they continue to collect the now 510 (the disclosed operating Budget) as they cry to us saying they are barely getting by on the 510, but since we are complaining about the 510 they will cut back the annual take to 490 at great sacrifice to themselves, the foxes ....
Plain and simple!
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Saturday, August 7th 2010 at 1:55PM
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