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Thread: The CAFR (Comprehensive Annual Financial Report) Thread

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    Doominatrix Supreme lapis's Avatar
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    The CAFR (Comprehensive Annual Financial Report) Thread

    In "The Documentary: The Corporation Nation" thread, Santa reminded me of a great CAFR thread that used to be stickied at GIM1.

    What is a CAFR and are you surprised you've never heard about it? Don't be.

    It's the best example of something politically explosive hidden in plain sight.

    You can google and download any government entity's CAFR. Yet this accounting report is never mentioned in the MSM (or really anywhere else--kudos to activists like Walter Burien for bringing it to the public's attention).

    Here's some info. about it from Wikipedia (I know, I know, it's not the best place to get the most or best information on things, but it's okay for a starting point):


    A Comprehensive Annual Financial Report (CAFR)found its first roots with the establishment of the "National Committee on Municipal Accounting" (or NCMA, a private association) in 1934. In 1946 standards transitioned into another private association, based in Chicago, called the Government Financial Officers Association[2]. The GFOA promoted and applied nationally, to government, the CAFR accounting practice. By the 1970s, the CAFR became the nationwide paradigm for local government accounting. The various levels of government, federal, state, local and municipal each began producing a CAFR in 1946 to catalog an accurate picture of: institutional funds, enterprise or financial holdings, assets and total investment incomes, for those government and nongovernmental entities using the report. This measure is above and beyond the budget process and replaced what was regularly an "off-the-books" practice called the "general fixed-asset account group". General Purpose government "Budget" reports did not reflect accounting of this financial data and in effect with the co-operation or silence of any media reports, hid these assets and investments from the public by only reporting on the budget or "rainy day" funds or pension fund investments.

    Differences between General Budgets and the CAFR

    The primary difference between a budget and the CAFR is that the Budget is a plan for the next period (often year) primarily showing where tax income is applied and the CAFR contains the results of the period (year) with previous years accumulations. The CAFR contains a section that provides a comparison of period budget and actual. Additionally the CAFR gives a detailed showing of investment accounts by category reflecting balances derived over many years.

    A Government budget document is a blueprint for a "specific grouping" of government agencies' spending over the course of an annual financial period. General Purpose Budgets contain both the spending categories of specified units of government, such as school districts, social services, transportation, police, fire, and park services; along with estimates of revenues expected to occur during the year, such as investment return; overrides of money from the previous year, and tax payments. They are usually more limited to the expected costs of running the aforementioned government operations through tax income as opposed to describing the status of any government fixed assets and investment wealth.


    A CAFR [5] by contrast is meant to report the complete overall financial results of both those "specific groupings" of government agencies that appear in the current fiscal year General Purpose Budget and all other agencies and departments. These can be autonomous, enterprise (for example government or city owned golf courses), recycling, water, sewer, and financial management - often these agencies were created with the inception of that local, state or government. The CAFR provides information about all of these other government agencies that may have their own budgets and separate investment accounts but their financial holdings are not combined with the general purpose budget that the same government presents to the public. The CAFR, or as it is called in CANADA CanFR [6] can be used along with a budget document to compare the organizations total financial standing to the annual general purpose budget. The CAFR is the complete showing of the financial investment and income records from all sources, that reflects what has developed over decades whereas a budget report is an inferior document to the CAFR being that it is primarily focused on what revenue is expected to be brought in and spent for just the year.

    In summation, the Comprehensive Annual Financial Report shows the total of all financial accounting that the basic general purpose budget reports do not. To find your local City; County; School District; or State government's CAFR do a Google Search. As an example for the city of Los Angeles, CA put in the search line using quotes: "The City of Los Angeles" "Comprehensive Annual Financial Report" and it will yield the link to download it: http://www.google.com/#hl=en&q=%22Th...0e7dd948e54cca

    [...]

    Recent history

    From at least 1998, a former Commodities Trading Advisor (CTA) of fourteen years Walter Bubien [7] AKA Burien - CAFR1 [8], and a federal auditor of thirty years Gerald Klatt who died on his birthday July 11th 2004 as noted in the SS death index who was from Tucson, AZ [9] have made specific and detailed claims upon showings seen and from referencing within the now 184,000 local government CAFRs, AFRs and other Federal audit reports such as; Audit of the IRS [10]; US Treasury Audit of Bank derivative holdings (tables 1, 2, 3 on pages 22, 23, 24 show that the top three banks were trading and holding over 150 trillion dollars worth of derivatives, apparently in primarily government accounts)[11]; US Treasury Audit of Bank Mortgage holdings [12]; Federal Consolidated Financial Statements [13]; CAFR for the Federal Reserve [14]; local Government's CAFR[15].

    How many governments exist in the United States? The 1997 Census of Government says it best... "There were 87,504 governmental units in the United States as of June 1997. In addition to the Federal Government and the 50 state governments, there were 87,453 units of local government. Of these, 39,044 are general purpose local governments - 3,043 county governments and 36,001 sub-county general purpose governments, including 13,726 school district governments and 34,683 special district governments."

    Some have called these the "2nd set of books", but as Mr. Burien says, the CAFR is "the book" with the budget being a section contained therein. Their assessments of government assets, holdings and investment supporting globalism, ownership by government investment "for profit" and government's international investments profits, significantly enhanced with the use of the now 600 trillion dollar international derivatives markets with government investments strategically placed for profit from free trade, war, commodity market, stock market, International investment movement and extreme price volatility is created by these massive moves by "institutional government funds" speculators scattered around the globe manipulating the market either deliberately or by volume.

    Since 1998, with the CAFR being brought to the attention of the public by the efforts of Walter Burien and Gerald Klatt [16] the Government Accounting Standards Board, a private organization whose guidelines for CAFR accounting are followed by local governments,[17] starting with transmittal letter 31 in 1999 and now up to transmittal letter 46 as of 2007) made changes. This resulted in claims that such changes are calculated steps to hide from the general public's view, massive domestic and international wealth; investment assets and authority "enterprise funds" all of which could be seen more visibly outlined in the combined financial columns of 1999 and previous CAFRs which required a showing of gross totals.
    The modifications in effect transitioned the accounting from a showing of gross totals to a showing of "net" totals as now noted in the CAFRs. Anyone who operates a business knows there is a very big difference between final figures expressed as "gross" or "net" accounting. These changes are being done with virtual secrecy due to the money involved and because of virtually no media attention on these issues.


    While a budget might indicate that a specific government or agency has financial trouble and debt, because of excess spending or mismanagement within the select grouping of "general fund" accounts presented, the CAFR may indicate, that overall, the same government entity, has many facets possessing large holdings and income considerably greater than what is shown in a budget report or the "general fund" alone. A few examples from recent history include, Jesse Ventura's returning 1.8 billion dollars (from the 8 billion targeted by him) of the government surpluses to voters as governor of Minnesota. Another example, in 1994, Orange County California government lost about $1.5 Billion on investments in the now massive derivative market and claimed they needed to declare bankruptcy per their general purpose budget even while holding several billion(about 11.3 billion) in profitable holdings in their investment portfolios as seen in the CAFR. The University of Kentucky's holdings of 85% of CHA Health [3] insurance stock was exposed in 2005 in the Lexington Herald Leader newspaper when CHA was sold to a rival firm [4] as part of the UK president's effort to raise a billion dollars to fund becoming a "top 20" research university an ongoing effort; to name a few examples.

    A more recent example of CAFR mention is when a congressman from Oregon Rep. Bruce Hanna in 2010 during general session when the floor was discussing what to do about the state's 3.5 billion dollar budget shortfall (fire employees, cut back on services, close state parks), stood up with the cover page from the state of Oregon CAFR in his hand and pointed out that in less than a few minutes he found 3.5 billion dollars to satisfy the state shortfall and poof, no shortfall when the dots were connected between the state CAFR and the previous selective presentation of the State general purpose operating budget.. This video is State Rep. Bruce Hanna, openly exposing the Oregon State CAFR surplus to the Oregon Legislature. A must see! -

    http://www.youtube.com/watch?v=gJ8YhJyxPQo

    and then a comment on the same from the Oregon Republican party site -

    http://www.oregonrepublicanparty.org/node/291
    Doom is always 6 or 8 months away.
    ~EE_

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    Re: The CAFR (Comprehensive Annual Financial Report) Thread

    Here's the URL for Burien's CAFR site: http://cafr1.com/

    Here's the link to subscribe to his newsletter: http://cafr1.com/phplist/?p=subscribe

    This is a video of a talk Burien gave last year:

    http://cafr1.com/Video/HFC.flv

    This page has a long list of Burien's recent articles:

    http://cafr1.com/Articles.html


    Doom is always 6 or 8 months away.
    ~EE_

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    Re: The CAFR (Comprehensive Annual Financial Report) Thread

    QUOTE OF THE DAY: "Rise and Rise again until Lambs become Lions"

    “Now remember, when things look bad and it looks like you’re not gonna make it, then you gotta get mean, mad-dog mean. ‘Cause if you lose your head and you give up then you neither live nor win. That’s just the way it is.” ~ Outlaw Josey Wales…

    STOP F*CKING WITH US.

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    Re: The CAFR (Comprehensive Annual Financial Report) Thread

    "Is Our Government Bankrupt?"

    Analogies are fun to use:

    Is the Colombian cocaine cartel short of cocaine?

    - - - - -

    The most important things to look at per government are the basics:

    1. What was the income of that local government in 1998 - 2002 - 2005 - 2007 - 2010

    EXAMPLE: Now if Bill Gates had a net worth and income of:

    * In 1998 a net worth of 51 billion and 4 billion income.
    * Then in 2002 a net worth of 56 billion and 5 billion income.
    * Then for 2005 a net worth of 62 billion and income of 7 billion
    * Then in 2007 a net worth of 71 billion and income of 8 billion
    * But then in 2010 his net worth dropped to 65 billion and his income was now 6 billion, would he be crying "bankrupt"?

    (Bill Gates Numbers above are for example use only):

    Let's present this information above in two ways.

    The first will be the way the government is presenting it:

    1. Our income in 2010 has dropped down by almost 25% from 2007 and our losses brought our net worth down by 6 billion dollars, we have been severely damaged by the weakened economy since 2007 and must fire employees, raise taxes, and cut back services...

    And now for a reality look and check using different parameters:

    2. Our income from 1998 to 2010 has increased by 2 billion dollars (50% INCREASE) AND our net worth has increased by 14 billion dollars (about 35% INCREASE)

    So on example #2 the key questions to ask yourself are:

    1. What was the population increase from 1998 to 2010? If it was 12%, 18%, 20%, or 25% government by the numbers is clearly in the black.(in most cases it was probably under 15%)

    2. What was the "real" rate of inflation from 1998 now adjusted for 2010? If 10% to 20% by the numbers government STILL is clearly in the black.

    3. The last primary factor to look at is: What was the average increase in the population's income from 1998 to 2010 for comparison with the governments income increase?

    Now these are the basics which of course a complete vacuum and void is created in the minds of the population due to the money involved. Focus your attention here to determine if you have a government that is a "for profit and a take-over machine" or a government "representative of the people's interests"

    I have looked many a times and know in advance you will not be pleased with what you find when you look.

    What is the difference in the presentation of the bankrupt scenario? ANS: A bunch of spoiled and ruthless yuppies of which most are attorneys greasing the skids as they dot the "I's" and cross the "T's" walking with as much cash as they can today as they with a strong arm also lock in the productivity value of the next five to seven generations. Their presentation of prospective has worked easily and grandly for them over the last 70 years and there is nothing of any consequence stopping them as of today so the beat goes on!

    Government "plays" great paupers to the media for presentation to the public while at the same time having the net worth of a million Bill Gates. The perspective you are spoon feed from your government is NOT in your interests but in theirs as the US / local government financial "empires" continues to expand Worldwide..

    __________________________________________________ ________________________________________________

    "I Love LA" and so do the local politicians, government attorneys, and their bloated pockets love LA also!


    FOR THOSE FROM LA:

    LA short of funds right? LA County's "budget" income = 17.5 billion dollars / year

    For Los Angeles, the key issue not addressed per LA being short of funds is:

    What were they bringing in for 2000, 2005, and now 2010 to see the reality of abuses per gross income.

    What is Los Angeles County''s annual operating budget as of 2009?

    Well it is 17.5 billion dollars and It is about time people started looking at the "true reality".

    I bet you nor anyone living in LA County never knew LA County''s kitty was that big each year....

    In other words: If they are bringing in equal to or more revenue than in 2000 or 2005, why the big cuts (too much greasing of the skids over the last five years probably)

    For the "County" of LA CAFR - http://file.lacounty.gov/lac/cms1_141548.pdf

    For the "City" of LA CAFR - http://controller.lacity.org/stellent/groups/ElectedOfficials/@CTR_Contributor/documents/Contributor_Web_Content/LACITYP_009064.pdf




    What is any easy mark? ANSWER: Someone who does not look or know what reality is due to the orchestrations of others... and with these types of numbers people better start looking rather fast.

    It is one thing as to what is there and it is totally another of how fast it can disappear if no one is looking!


    School Districts in LA?

    Another good place to look would be in an area you have had first hand experience with if you have children.

    Here you can see that what you thought you knew was not a clear or complete picture of what was:

    Los Angeles School District 2008 CAFR -http://notebook.lausd.net/pls/ptl/docs/PAGE/CA_LAUSD/LAUSDNET/OFFICES/CFO_HOME/2008-09%2520CAFR_FINAL%25202-25-10.PDF

    Los Angeles School District 2006 CAFR -http://notebook.lausd.net/pls/ptl/url/ITEM/5B0A360C41211054E0430A0002101054

    And then an eye opener along the lines of lack of transparency of funds over 100 billion dollars, CALSTERS -the Teachers Retirement Fund 2002 CAFR gives a detailed listing of specific investments where 2009 there is no clear showing outside of general percentages shown. I also note that the word "unaudited" crops up to many times in the 2009 report:

    2002 - http://www.calstrs.com/HELP/forms_pu.../CAFR03all.pdf

    2009 - http://www.calstrs.com/help/forms_pu.../cafr_2009.pdf

    CAFR1located the "listing of investments held by CALSTERS and they can be viewed here - http://CAFR1.com/CALSTRS.html

    Walter Burien - CAFR1
    P. O. Box 2112
    Saint Johns, AZ 85936

    Tel. (928) 445-3532
    Doom is always 6 or 8 months away.
    ~EE_

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    Re: The CAFR (Comprehensive Annual Financial Report) Thread

    Quote Originally Posted by mick silver
    QUOTE OF THE DAY: "Rise and Rise again until Lambs become Lions"
    It's from the Robin Hood movie starring Russel Crowe.
    Doom is always 6 or 8 months away.
    ~EE_

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    Re: The CAFR (Comprehensive Annual Financial Report) Thread

    Israel is funded by these slush funds.
    Please remember.... once the pin is removed, Mr. Grenade is no longer your friend.

    Quote Originally Posted by TheNocturnalEgyptian View Post
    The main thing I learned from history is that most men fail to learn from history.

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    Great Value Carrots Santa's Avatar
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    Re: The CAFR (Comprehensive Annual Financial Report) Thread

    This is terrific, Lapis... Thanks so much.
    Here's a quote from one of your links.
    Oregon’s Comprehensive Annual Financial Report (CAFR) released by the Secretary of State’s office last week states that more than $3.3 billion in “unreserved, undesignated fund balance… was available for spending[1].”
    See, the problem is, if Oregon uses those available funds to pay for government services as it should since that's what government is supposed to be doing, it'll surely cut into the funds to pay for that new fleet of private jets for the Directors and Managers of FUCU Corporation.

    Can't have that, Dammit!

    "Trust those who seek the truth, but doubt those who say they found it."

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    Re: The CAFR (Comprehensive Annual Financial Report) Thread

    As far as I'm concerned the ledger aspect of this conspiracy is not the most important factor to consider, it's the conflict of interest proxy voting. Some of us were well aware of the accounting chicanery but weren't so well informed as to the genesis of all the negative aspects of corporatism and fascism: monopolies, payoffs and bribery, dissident silencing, market manipulation, economic terrorism, malinvestment, stifling of innovation, etc etc. Actually, the implications are astounding in there scope; there is almost no limit to the negative ripples of this type of criminality, that is the whole point.

    I've been saying this for a couple of years now, we spend so much time arguing about democracy vs. republic, capitalism vs. socialism, and all of the other fake dichotomies out there. What we should be focusing on are the evils of limited liability. I don't care what system you use or what rules or government you put in place, none of them will work as long as the atrocity of limited liability remains. What do the bad guys care if we call it a republic or make laws against treason or have sound money? They will just buy the people charged with upholding these concepts, and what do you have then? Limited liability is the trick designed to circumvent things like rules, law, system, accountability, and responsibility. You can't fix things without dumping the abomination of limited liability.

    dys




    Now as he walked by the sea of Galilee, he saw Simon and Andrew his brother casting a net into the sea: for they were fishers. <br />And Jesus said unto them, Come ye after me, and I will make you to become fishers of men.<br />Mark 16-17

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    Doominatrix Supreme lapis's Avatar
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    Re: The CAFR (Comprehensive Annual Financial Report) Thread

    I think this CAFR information, coupled with Catherine Austin Fitts' revelations about government black budgets are the biggest stories you won't see on the MSM.

    I guess I should start a CAF thread to go with this one.
    Doom is always 6 or 8 months away.
    ~EE_

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    Re: The CAFR (Comprehensive Annual Financial Report) Thread

    Quote Originally Posted by lapis
    I think this CAFR information, coupled with Catherine Austin Fitts' revelations about government black budgets are the biggest stories you won't see on the MSM.

    I guess I should start a CAF thread to go with this one.
    If you really want to get creeped out look into Project Monarch. Fritz Springmeier is a guy to check out.

    dys
    Now as he walked by the sea of Galilee, he saw Simon and Andrew his brother casting a net into the sea: for they were fishers. <br />And Jesus said unto them, Come ye after me, and I will make you to become fishers of men.<br />Mark 16-17

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