Evan Halper and Patrick McGreevy
Staff reporters - LA Times
Evan and Patrick:
Per your article at - http://www.latimes.com/news/local/la-me-budget17-2009jan17,0,5517766,full.story
You say short on CASH, stopping payments in the CA Budget accounting? Well now then, let's take a look at the squirreled away investment, self insurance, and advance liability cash equivalent accounts, and many enterprise operations have as can be examined in the California State and "other" CA local government's Annual Financial Reports known as the CAFR (Comprehensive Annual Financial Report) to see a true standing of CA Government wealth held and growth of these, what can be called nothing other than; "for profit government incorporated entities:
Some examples of CAFR reports are as follows:
CA GOVERNMENT CATEGORY LISTINGS: http://www.sco.ca.gov/pubs/index.shtml#stagovrep
Google CA local Government CAFR search results: http://www.google.com/search?hl=en&q=%22California+Comprehensive+Annual+Financial+Report%22&btnG=Google+Search&aq=f&oq=
As a guide for you, here is a potential surplus review conducted of just "exclusively" for CA State government Inc., conducted in 2004 by Gerald Klatt, a retired Federal Auditor of 30 years that you can use as a guide for a 2009 CAFR review of just CA State Government - http://cafrman.com/Articles/Art-CA-S1.htm and then you can take a look at the some 4.500 other local government AFR's or CAFR's which in composite totals will dwarf the state totals...
I have sent a CC copy of this communication to Governor Schwarzengger's office through http://gov.ca.gov/interact for his review also.
And let us not forget to look and see how much investment wealth local CA governments have standing in a few of the CA government employee "strictly participatory" (employee buys a ticket to ride from point "A" to point "B" on the train but do not own one piece thereof, the local government owns the train), actuarial inflated retirement system wealth accumulation. Are they faring better than the private sector? It appears most definitely yes, and by far...
What are the trillions of dollars in totals? It is way up there for total CA Government wealth held! Now do the math..... Problem you say? Yes for the peoples of CA but not so as it appears for the local Governments of California... Learn the "Shell Game" played at your expense....
Alameda County Employees' Retirement System
California Public Employees' Retirement System
California State Teachers' Retirement System
CalPERS 457 Public Agency Deferred Compensation Program
Investments and CAFR report
Contra Costa County Employees’ Ret. Assoc.
Judges' Retirement System I
Judges' Retirement System II
Legislators' Retirement System
Los Angeles City Employees’ Retirement System
Los Angeles County Employees' Retirement Assoc.
Marin County Employees’ Retirement Association
Merced County Employees’ Ret. Association
Office of the President, University of California
Orange County Employees' Retirement System
Part-time, Seasonal or Temporary Employee (PST) Retirement Plan
Sacramento County Employees' Ret. System
San Bernardino County Employees’ Retirement Association
San Diego County Employees Retirement Association
San Francisco Employees' Retirement System
San Joaquin County Employees’ Retirement Association
San Mateo County Employees’ Retirement Association
Savings Plus Program
Sonoma County Employees’ Retirement Association
Stanislaus County Employees’ Retirement Association
State Peace Officers’ and Firefighters’ Defined Contribution Program
Tulare County Employees’ Retirement Association
Ventura County Employees’ Retirement Association
Sent FYI from,
P. O. Box 2112
Saint Johns, Arizona 85936
Pension funds pay a salary and benefits at retirement. Any local government can be restructured to meet their annual budget needs "Without" taxes. TRF (Tax Retirement Funds) paying for every City, County, State’s annual budgetary needs! This now makes the people the true owners with government being the true service provider. Government has already shown that a TRF works by example through the management of their own combined multi-trillion dollar pension funds! CAFR1 says: Make it law and make it so!
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