Salt Lake County Mayor Admits To CAFR Fund Wealth


I’d like to dedicate this to two of the bravest, most honorable men in the world: Walter Burien (cafr1.com), and Gerald Klatt (cafrman.com).

Rest in peace – and thank you doesn’t even come close – Lieutenant Colonel Klatt…

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The following is an interview on Utah’s local K-Talk AM630 radio station with myself, Dale Williams of FreeWestRadio.com, and the Mayor of Salt Lake County, Peter Corroon.

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Hear the 25 minute interview only here:

Download here: https://realitybloger.com/wp-content/uploads/2011/05/carroon-interveiw-edit.mp3

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Or listen to the full 90 minute radio show here:

Download here: https://realitybloger.com/wp-content/uploads/2011/05/carroon-interview-full.mp3

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In this rare historical confession, the Salt Lake County Mayor not only reveals his complete knowledge of the Comprehensive Annual Financial Report (CAFR) of his county, local, and state government, but tells us that indeed his new “Unified Police District” is a private corporation, and that the elected Sheriff was appointed as the CEO of that private corporate police force after dissolving the Sheriff’s Department, leaving no lawful protection of the people, and creating a gangland style police-state in the “unified” Utah and Salt Lake County.

This completely verifies my previous article, “The Sheriff Who Sold his County”, located here:

https://realitybloger.wordpress.com/2011/05/22/the-sheriff-who-sold-his-county/

 

Please download, re-post, and forward this interview and article freely, with no copyright or other restrictions.

And be vigilant for this in your own Sheriff’s Department, before you loose yours as well.

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Clint Richardson (realitybloger.wordpress.com)

Saturday, May 28, 2011

 

 

 

 

 

 

 

 

 

 

The Sheriff Who Sold His County


Note: We interviewed the Mayor of the county on AM630 talk radio on May 27, 2011 – and he admits to and confirms all of the information below. Download and listen here (25 minutes):
https://realitybloger.com/wp-content/uploads/2011/05/carroon-interveiw-edit.mp3

Update: We have now interviewed the Sheriff who sold his county, Jim Winder!
This interview took place on AM630 talk radio on May 27, 2011. Please read update and listen here:
https://realitybloger.wordpress.com/2011/06/06/an-inteview-with-the-sheriff-who-sold-his-county/

In the Great Salt Lake Valley, a once free land settled between the rugged Rocky and Sierra Nevada Mountain ranges, the county’s last firewall of protection from outside influence has been extinguished.

The Salt Lake area is renown for its world-class ski resorts, its vast food storage industry, and its uniquely large population of Mormons. The county, with a richly seated and an often mythical, chaotic history, has now become the stuff of legend.

This is the story of what has become of Salt Lake County, and the private militant corporation that has become its new police department. And to this you should pay heed, for this story is happening across the country, and may have already consumed your own county’s last hope, your elected Sheriff.

Let’s begin at the beginning of the end, when Salt Lake County lost its Sheriff’s Department…

First, understand that the County Sheriff is given the true lawful power of the people as an elected political office, and not a partisan appointment like all of the law enforcement officials beneath him. This political office is (or was) the protectorate of the people within each county; acting as the law of the land and the only instrumentality that has the real power to thwart the encroachments of the Federal government – the power to say NO! If you have a problem with the local police in your town or city (corporate municipality), the County Sheriff and his department is who you would call as the authority of the land (county).

Our current “elected” Sheriff of Salt Lake County, one Mr. Jim Winder, is of course a wealthy member of the local dairy tycoon family, aptly named Winder Farms. He recently won his reelection campaign in the 2010 elections due to the fact that the information I’m about to present to you is absent from the general consciousness and comprehension of the good people of the Salt Lake Valley. The good Sheriff actually campaigned on and was voted into this honorable office toting the success of the newly formed Unified Police Department – the “unification” of the sheriff, municipal, and unincorporated police departments within Salt Lake County into one corporately structured private police force – an act of treason and an assault on everything remotely constitutional.

The people have no idea what this man has done…

As of January 1, 2010, the day that Salt Lake County became a police state, the Salt Lake County Sheriff’s Department was officially dissolved. In its place was created a brand new corporation, which is now described as “…responsible for all police operations”. This private company is called the “Unified Police Department of Greater Salt Lake”, or the “Unified Police Department” for short.

Manta.com lists this “private company” here: (http://www.manta.com/c/mt7k1nj/unified-police-department-of-greater-salt-lake).

This Unified Police Department (UPD) became the “new police force” for all municipal corporations (cities) and all unincorporated areas within the County of Salt Lake, thereby dissolving the only true lawful protective body within the county, the elected Sheriff’s “Department“.

To add to the treasonous nature of this takeover of Salt Lake County, this elected Sheriff was then appointed as Chief Executive Officer (CEO) of the Unified Police Department by the County Council. To clarify, the elected Sheriff Jim Winder was appointed by the elected County Council to be the CEO of the private company called “Unified Police Department of Greater Salt Lake”, which is in charge of all law enforcement within the County of Salt Lake.

And it gets worse… way worse!

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So who’s idea was this, anyway?

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Well… The local FOX 13 news affiliate reported it this way:

SALT LAKE COUNTY, Utah —

The details of a new metro police force for Salt Lake County, a feat that has taken several years to accomplish, have now been finalized. As of January 1, 2010, The Salt Lake County Sheriffs Office will be dissolved and will be replaced with a new metro police department. The new department will be run by mayors of participating cities.

“It’s happened, today we are formalizing what has really been a several year initiative to create a consolidated police entity that is managed by municipal (corporation) mayors,” said Sheriff Winder of the Salt Lake County Sheriff’s Office.

Instead of being run by a chief or the sheriff, the metro police force will be controlled by a board made up of the mayors of the participating municipalities (corporations). The sheriff will act as chief executive on that board.

(Source Link: http://www.fox13now.com/news/kstu-salt-lake-county-sheriffs-office-transition,0,2854276.story)

What more could the leaders of organized crime (the mayors) ask for than a private police force that they control and use to take the people’s wealth and property?

And, right from the horses mouth, the county government website had this to say:

Mayor’s Report/UPD
Published: Oct. 2009

The Unified Police Department will be born January 1, 2010. A quarter million resident’s of Salt Lake valley will be served by a new police force. I have been honored to serve as the Chair of the UPD transition committee along with Mayor Dennis Webb of Holladay serving as vice chair.

Public Safety is the number one priority for every governmental entity, federal, state or local. The creation of the UPD is another step in providing the highest level of police protection for citizens living in unincorporated areas and cities served by the Sheriff.

The UPD will replace the Salt Lake County Sheriff’s patrol services. As it is currently formulated, the UPD will serve townships and unincorporated areas plus the cities of Bluffdale (which is considering other options), Herriman, Holladay and Riverton. The UPD will also provide limited pooled services to Taylorsville, including SWAT, narcotics and gang prevention.

Mayors of the member cities will join representatives from the unincorporated county as the UPD’s board of directors setting policy and budgets. The Sheriff will be the chief operating officer (CEO) and run day-to-day police operations.

This transformation has been a long time coming. Former Sheriff Aaron Kennard joined Sheriff Jim Winder last month before the Salt Lake County Council to report that groundwork for the UPD started more than a decade and a half ago.

The expertise and experience of the Sheriff’s Office means that police services will continue at its same high level. One major difference is that municipalities will become full partners and part owners of equipment traditionally owned by the county.

Great credit goes to Sheriff Winder, Mayors Lynn Crane of Herriman, Dennis Webb of Holladay, Bill Applegarth of Riverton and Claudia Anderson of Bluffdale Mayor Russ Wall of Taylorsville and our Salt Lake County Council members for their efforts directed at bringing the UPD to fruition.

In the years since the Salt Lake County Fire Department became the Unified Fire Authority/Unified Fire District, we learned that consolidation of services and providing ownership and policy responsibility to member cities creates a positive environment built on trust and common needs.

The Unified Police District will serve 250,000 residents with 339 officers on an annual operating budget of $45.3 million.

The new board guarantees local control under the power sharing agreement. The UPD provides a framework for future police services in our county. We are proud of our Sheriff’s Office and, starting next year, we will be proud of the Unified Police Department.

(Source:  http://www.co.slc.ut.us/html/upd/upd.html)

The Unified Police Department of Greater Salt Lake website (http://updsl.org/contact.html) lists its participating “precincts”, which are unincorporated townships and areas, as:

Herriman – 801.302.2080
Holladay – 801.272.0426
Kearns – 801.967.4420
Magna – 801.250.1474
Millcreek -801.272.5225
Southwest – 801.254.0167
Riverton – 801.254.0167

Of course, all municipal corporation (city) police in the Salt Lake County have now become “Unified”, and often have this fact printed on the sides of their shiny, expensive new Dodge Chargers and SUV’s. The “Draper City Corporation’s” Police Department is even the proud owner of an old but quite operational military tank!

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What Really Happened?
The History Of Police “Unification”

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From the Federal National Highway Traffic Safety Administration’s website:

“In 1996, the Utah Highway Safety Office and the Salt Lake Sheriff’s Office met to analyze territorial and coordination problems encountered by metropolitan area law enforcement agencies. As a result, the two agencies developed the Salt Lake County Multi-Agency Task Force comprised of all local, county and state law enforcement agencies; law enforcement agencies from schools and universities; and representatives from four other government agencies. Monthly meetings served two purposes: to develop cooperative law enforcement activities, and to showcase best traffic safety practices and programs.”

(Source: http://www.nhtsa.gov/people/outreach/safedige/spring2000/spr00-8.html)

This single act abolished the traditional jurisdiction of each city (municipal corporation), and gave law enforcement authority and power to neighboring forces. Thus, in Salt Lake County, the Salt Lake City Corporation (city of Salt Lake) Police now have jurisdiction not only in Salt Lake City, but also in all other municipal corporations (cities) and unincorporated areas within Salt Lake County.

This, it turns out, is a national phenomenon that is indicative of the federal takeover of local and state law enforcement – the “Federalization” of all police in the country. It is the selling out of State’s rights as soon as the Federal Government waves grant paperwork and United Nations treaties in front of our legislators and constitutionally ignorant sheriff’s collective, treasonous faces:

“It’s important that people recognize the agency, and they will no longer say ‘Sheriff’s Office.’  It’s anticipated they will say Unified Police Department…” Sheriff Winder told KCPW in August 2009.

(Source: http://kcpw.org/blog/local-news/2009-08-12/new-unified-police-department-allows-more-local-control/)

But this is only the beginning of the tyranny. To understand what a true police-state means, let’s examine the corporate structure and design of this new Salt Lake County Sheriff’s corporation, the Unified Police (Federal) District…

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The “Salt Lake Valley Law Enforcement Service Area”

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Once the “Unified Police Department of Greater Salt Lake (UPD)” was set up as a corporate entity; after this virtual mafia of mayors and council members of the county and cities of Salt Lake County gleefully dissolved the constitutional power of the Sheriff’s Department… the real fun began.

What follows is why the County Sheriff is such an important office, and why you should strive to protect yours if you’re lucky enough to still have one.

The County Council through the UPD then created a “district” called the “Salt Lake Valley Law Enforcement Service Area (SLVLESA)”. This district is what is called in corporate government a “Special Financing District (SFD)”.

UPD referenced the Prima Facie (presumed law) UTAH STATE CODE 17B-1-201 and 17B-2A-901 as justification for their “right” to do this.

It is very hard to come up with a single definition of just what a “Special Financing District” actually is, and yet quite easy to find a multitude of private, non-governmental corporations just itching to help turn your area into one. There is even a “California Special Districts Association” which one can explore and join – online at (http://csda.net/).

A private, non-governmental Florida company describes “Special Taxing Districts” as:

Special District Services, Inc. creates and manages special taxing districts throughout the State of Florida. SDS was organized to meet the growing demand for urban services and provide a public financing vehicle to serve community infrastructure and service needs in a timely and cost-effective manner. SDS is a results-oriented company with the philosophy that a Public-Private Partnership is an essential ingredient for the successful delivery of public infrastructure through the use of special districts. The basic concept being that growth pays for itself. We are committed to tailoring services to provide essential planning, organization, management, financing and construction of public facilities through the use of special taxing districts.

Learn about Public Private Partnerships here (highly recommended):

Part1:

Part 2:

In Washington State, statutes have defined special districts as:

  • municipalities
  • units of local government
  • municipal corporations
  • quasi-municipal corporations
  • public body corporate and politic

Perhaps the worst aspect of Salt Lake County’s plight is that the Unified Police Department actually had the nerve to outsource this crime to another state!

The “NBS” website at (nbsgov.com) – which is the out of state, private, non-governmental company handling Salt Lake County’s SLVLESA – states that:

Special Financing Districts (“SFD’s”) include a wide variety of assessment-based, special tax, and other types of parcel charges such as:

  • Assessment Districts
  • Business Improvement Districts (BID)
  • Community Facilities Districts (CFD)
  • Connection Fee Financing
  • Fire and Other Special Purpose Taxes
  • Local Improvement Districts (LID)
  • Maintenance Districts
  • Miscellaneous Charges
  • Parcel Loans
  • Special Tax Districts

Exerpted from a “William Blair & Company” brochure entitled “Special Tax District Financing – A Guide to Funding Infrastructure Through Land-Secured Bonds”, this Chicago company might give us some insight as to what is actually happening in districts across the country like the SLVLESA:

This article sets out the basic concepts underlying land-secured municipal finance and how it can be used effectively by municipalities, home builders, and developers.

Land-secured bonds are used to finance the basic public infrastructure required for both new development and existing communities. Most often, these bonds are issued through-or for the benefit of-special tax districts. The bonds generally are non-rated and exempt from federal income taxes

Now, I want you to pay special attention to this next part. For this above all else reveals the true nature of your private, corporate municipal “government”. And it proves without a doubt that you, the people, are not the owner of your land, your home, or your property.

The brochure continues:

Owners of properties that benefit from the bond-funded infrastructure agree to a lien on their homes (or commercial property) that is paid off over time through an annual special tax or assessment. That tax or assessment is used to pay debt service on the bonds, which are secured further by the underlying taxed or assessed property as collateral. The special tax or assessment constitutes a senior lien on the property, meaning it is superior to private liens such as construction or mortgage loans.

Land-secured bonds are used to finance many types of public infrastructure. For example, for transportation, bond proceeds can fund streets, sidewalks, traffic signals, highway interchanges, public parking, public landscaping, and street lights. For utilities and related infrastructure, the bonds can fund water supply, storage, treatment, and distribution facilities; wastewater collection, treatment, and disposal facilities; and storm drain systems. For economic development, the bonds can finance public infrastructure associated with shopping centers, business parks, and industrial parks. In addition, land-secured municipal bonds can fund flood control, recreational facilities, parks, and open space. What constitutes an eligible project is subject to specific state statutes, but in many locales the possibilities are expansive.

In short, land-secured bond financing can be used to fund the cost of public infrastructure for almost every kind of real estate development: existing urban and suburban neighborhoods, new master-planned communities, local and regional commercial districts, retail malls, big-box commercial centers, office and business parks, industrial complexes, redevelopment project areas, affordable-housing projects, and military bases being converted to civilian use.

In various states, a voter referendum is required to raise property taxes. This makes it difficult for local governments to cost-effectively finance new projects and existing infrastructure upgrades when they are needed… Consequently, a cash-flow mismatch exists between the up-front costs of public projects and generation of tax revenue. To fill this gap, land-secured bond financing was created so governments can fund infrastructure directly and developers can fund the public-use components of new neighborhoods before the improvements are conveyed to municipalities.

In other words… these bonds are created to bypass the lawful voting procedure that would otherwise be required of the people to raise property taxes. This is literally “taxation without representation”.

It continues:

Land-secured bonds generally are not rated by the rating agencies because they are considered riskier than other municipal bonds and are unlikely to receive investment-grade ratings. As home-builders have come to understand, however, as long as all goes according to plan, the risks lessen over time. Risks are highest as development begins and the project is still dirt’ risk then declines as the project reaches its full potential, builds out, and establishes a diversified tax base with a record of special tax or assessment payments. The annual tax or assessment levy is generally part of the owner’s property tax bill so payment can be routine.

The creative use of land-secured municipal financing through special tax and special assessment districts offers an opportunity for home-builders and real estate developers to partner with local governments to bring new development to fruition.

(Source Link: www.cdfa.net/cdfa/cdfaweb…/WilliamBlair-SpecialTaxDistrictFinancing.pdf)

I am guessing that this answers the question as to why cities and counties across the country are building new housing, strip-malls, mega shopping centers, and business complexes all over the place in “planned communities”, while empty businesses and homes stockpile in the rest of the cities and counties as banks continue their siege of foreclosures on the clueless people.

The more buildings government builds, the more taxation can be brought into the government Special Financing District!

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So What Exactly Is The SLVLESA?

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Well, let’s start with what it is not…

From the SLVLESA website, under the “About the SLVLESA” section, it states:

Mission

The sole purpose of the Salt Lake Valley Law Enforcement Service Area (SLVLESA) is to provide funding for police services in the unincorporated areas of Salt Lake County. The SLVLESA does not provide police service. Instead, it forwards revenues to the Unified Police Department (UPD), which provides law enforcement services to the unincorporated County. The UPD is responsible for all police operations.

Leadership

The SLVLESA was created by unanimous vote of the Salt Lake County Council (not the voting public). The Council appointed Jim Bradley, Michael Jensen, and Mayor Peter Corroon to serve as the service area trustees. Councilman Bradley serves as the chair.

This SLVLESA Special Financing District and its self-appointed council, being created without the consent or approval of any of the home or business owners within these incorporated or unincorporated sections of the county, literally, unconstitutionally, and unabashedly forced these private land, home, and business owners to become a part of this Special Financing District.

To be clear, the county council and county mayor created this 4-person council (a special district within the main UPD private corporation), which has no law enforcement authority and does not provide police services, and appointed themselves as its trustees and chairman. They created a fake corporate city (a corporate veil), making themselves the administrators (slave-masters). This would be no different than a king making your unincorporated town or village a part of his kingdom, and then assigning a council (an oligarchy) and tax collectors (city police) to force you to pay for his majesty’s protection.

The American Heritage Dictionary defines the term “Trustee” as follows:

  1. Law. One, such as a bank, that holds legal title to property in order to administer it for a beneficiary.
  1. A member of a board elected or appointed to direct the funds and policy of an institution.
  1. A country responsible for supervising a trust territory.

Webster’s Dictionary defines an “Institution” as such:

1: an act of instituting: establishment

2 a: a significant practice, relationship, or organization in a society or culture ‘the institution of marriage’. also : something or someone firmly associated with a place or thing ‘she has become an institution in the theater’

2 b: an established organization or corporation (as a bank or university) especially of a public character; also : asylum

Once this Salt Lake Valley Law Enforcement Service Area (SLVLEA) was formed, the council then granted themselves the authority to arbitrarily create and charge each land, home, and business owner within their newly created “special financing district”, without the vote or consent of the people who now would be forced into participation within said mandatory “law enforcement service area”, a mandatory fee for police protection by the Unified Police Department.

Service… at the point of a gun.

But remember, this now mandatory “police protection” before January 1, 2010, was paid for by taxes and provided for by the Sheriff’s Department of Salt Lake County. But once that office taken over by a criminal cabal and was dissolved, the law of the land was not there to protect its people from this type of tyranny of government, and a traitorous elected Sheriff literally sold his soul and that of his people to the Federal Government… for profit.

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The Police Protection Fee
Pay It, Or Loose Your Home

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It is important to understand this concept. Our police, our Unified Police Department, is now a business. A business – a corporation – must make a profit to be soluble. A corporation is always designed to make a profit, even in a so-called a non-profit structure. Therefore the Sheriff, as CEO of the UPD Corporation, has been catapulted into a position that now directly conflicts with the lawful purposes for which the voters elected him into office. As the corporate president of this police corporation, he must ensure a profit is made for the company. Therefore, the people of the county will suffer the consequences of their Sheriffs conflict of interest. The result?

SALT LAKE CITY (ABC 4 News) – Salt Lake City drivers beware!  Police are now patrolling these streets with a new need to write tickets, or face being written up for not doing their jobs.

“…What we are asking, is for officers to be accountable for their time,” says Sgt. Shawn Josephson, Salt Lake City Police.

A spokesperson for the department tells ABC 4, Salt Lake City Police Chief Chris Burbank says he’s recently stumbled upon patrol officers within the department who haven’t written one traffic citation in a year.  So, he’s writing a new rule requiring every cop to write at least one ticket per week, or they’ll be questioned.

We’ve got goals we set as a department so we can make sure the officers are out there working,” says Sgt. Josephson…

Officers say that’s the number one complaint they get from people upset about fast moving cars flying through their neighborhoods.  But now, cops are going to be ready for them.  But the thought of getting slapped with a ticket, is not pleasing to those driving the streets of Salt Lake City.

Chief Burbank will not say what will happen to officers who do not meet this requirement.  On average, Salt Lake City 200 patrol officers write between 10 and 20 tickets a day.

(Source link: http://www.abc4.com/content/news/slc/story/Officers-required-to-write-more-tickets/EASmUKNoqU-Vc5cFBAWYZQ.cspx)

Here is a comment posted to the site from a concerned citizen:

The SLPD states via an interview in your broadcast, that the upgraded ticket-writing demand of its officers is to demonstrate to the PD and public that ‘OUR’ officers are doing their jobs. THAT’S BULL!!! PROOF: SLPD and ALL local city police cars have a nifty GPS puck attached to all vehicles. These ‘GPS pucks’ are tracked by FATPOT, SPILLMAN or comparable software. Each police, fire, ambulance and many/MOST other local-government operated vehicles are TRACKED 24/7 with recordings SAVED to computer hard-disks for months and years! The vehicle’s location is placed on maps in very real-time! 

But tickets are the least of the people’s worries. For the real dirty little secret of the Unified Police District and its special district “SLVLESA” is much, much worse…

In March of 2010, the SLVLESA council sent out to each of the land, home, and business owners within this unincorporated part of Salt Lake County a letter of demand. This perversely friendly and polite letter stated that:

“We know you’re not going to be happy getting this letter or the bill in this envelope. It’s never easy paying a new fee or tax. And with the poor economy, the timing is especially inconvenient.

As leaders in Salt Lake County government, we’d much prefer to be writing you about a new service, but we also have a duty to keep our community safe. And that’s what this fee is about – preserving the safety and security that our families and businesses need to thrive.

Unfortunately, the national economic recession has hurt the budget of Salt Lake County, just like it’s hurt the pocketbooks of everyone in our community. Because sales tax revenues are down 30%, the fund that pays for law enforcement in the unincorporated areas of Salt Lake County faces a $13 million short fall.

We tried to close the gap with budget cuts. In fact, we cut the budget for non-police services (sidewalk and road repairs, animal services, and snow removal) by 26%. And we reduced the law enforcement budget by 7%. However, these cuts didn’t fill the gap.

In order to avoid a new fee or raising taxes, we would have had to lay off 60% of the police officers serving the unincorporated County. We just weren’t willing to sacrifice the safety of our community, so we instituted this new fee.

You should know that the creation of the Unified Police Department had nothing to do with the creation of this fee. As mentioned earlier, the police budget for the unincorporated county is actually less than what it was last year.

We chose the fee over a property tax increase, not because it sounds better, but because the fee is more transparent and flexible. All of the proceeds go to law enforcement, and we have the flexibility to reduce or eliminate the fee as the economy improves. The fee also allows us to broaden the tax base and charge more to businesses that put a greater burden on law enforcement. We think that’s only fair.

You may have seen some news reports about a franchise tax that might replace this fee. People in cities around Salt Lake County already pay these fees on gas, electric, cable, and telephone bills. However, even if the legislature makes this change, it may not take effect until next year, so we will still need to collect this police fee until an alternative funding source is in place.

We know this is a difficult fee to require you to pay. But, we’re all in this together. Without these funds, we wont be able to afford the police services that keep us safe.

Sincerely,

Jim Bradley

SLVLESA Chair

Salt Lake County Councilman.

Now, keeping in mind that even though the Sheriff’s Department was dissolved, the same old taxes are still being collected – the second portion of this “courtesy” letter is in the form of a payment stub, or a statement of mandatory fees due. It states:

The annual fee may be paid in full, or paid in three equal installments during the year. If you pay your account in full for 2010, you will not receive another statement until next year. If you pay only the currently due installment, you will continue to receive statements until paid in full. Please see the reverse side for additional details about your payment options, the police fee, and the SLVLESA. Additional information can be found at www.slvlesa.org.

Your total Police Fee is: $174.00

A late penalty charge of $5.80 will apply if paid after 4/1/2010. Postmarks are not accepted. Electronic payments will be accepted soon. Visit www.slvlesa.org for current information.

NBS currently administers the billing for the SLVLESA. Requests for information regarding your fee, billing amount or payment should be directed to Property Owner Services of NBS at (888) 4-SLVLESA (888-475-8537)


Now the reason that this pathetically apologetic yet demanding letter sounds like a typical, poorly written service notice from one of your utility or cable/Internet companies, is because for all intents and purposes, that is exactly what the SLVLESA is. This “special district service area” is the private servicing, fund raising, and money collection corporate agency for the Unified Police Department Corporation, with the Sheriff of the County acting as the appointed CEO of that mother company.

Also notice here that the website for this “Special Financing District” is not a government website (.gov), and instead ends with the extension (.org), which any organization, private corporation, or individual can obtain.

And just to add insult to injury, Councilman Bradley tells us that the already economically stricken home and business owners in the police-state County of Salt Lake must pay this “police protection fee” despite the fact that the county has already cut more than ¼ of the services that they already pay for with their hard earned tax dollars, and after exclaiming that the police budget was already cut by 7%.

Then, a few months after the first child-like letter was written to the residents and business owners of the unincorporated areas within the Salt Lake County, a new letter appeared in the mailboxes of those who had not responded to the first letter.

This now threatening letter of demand stated:

To Date, the majority of homeowners in unincorporated Salt Lake County have paid their law enforcement district fee. However, there are a number of residents that have not. The fee is necessary to keep our neighborhoods safe, and the fee is mandatory. All residents are required to pay their fair share.

More than 33,000 of your fellow residents in the unincorporated County have already paid the first bill they received from the Salt Lake Valley Law Enforcement Service Area.

Unfortunately, we have not received your payment.

We do want to give you the benefit of the doubt. This is a new fee, and we understand there may still be some confusion regarding your responsibility to pay it. You may have even accidentally discarded your first bill.

Regardless of the reason you haven’t paid, the Board of the Service Area has instituted a grace period on late penalties that normally would have been charged. Late penalties will be waived so long as we receive your payment for the amount due, on the enclosed statement, by July 1st (2010).

For your convenience, we are also now accepting payment via credit cards, online, at www.slvlesa.org.

Note: This is not convenient in any way to the home or business owner! The convenience comes to the UPD, in the form of private corporation in California handling all the billing and paperwork to collect an unlawful tax for a few corrupt council members and a CEO Sheriff! And when we add the mailing costs and profits of this California company, we have a complete waste of taxpayer money into a private out-of-state corporation.

The letter continues:

If we have not received your payment by July 1st, your debt will be reported to the County Treasurer’s office for certification. This is the first step to a lien being placed on your property.

We hope it never gets that far. We do not want to take any of these actions. However, in fairness to all those who have paid the fee, we must take action to ensure everyone is held to the same standard.

If you have already paid your first bill and believe you are receiving this letter in error, please call (801) 468-2342.

Sincerely,

Jim Bradley
Board Chair

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You may pay option 1 (remaining annual), or Option 2 (currently due) amount shown below on the Amount Due line. If you pay your account in full, you will not receive another statement until next year. If you pay only the currently due amount, you will receive another statement in early September. Please see the reverse side for additional details about your payment options, the police fee, and the Salt Lake Valley Law Enforcement Service Area (SLVLESA). Additional information can be found at www.slvlesa.org.

Your 2010 Police Fee is: $174.00

Amount Due: $116.00

A late penalty charge of $11.60 will apply if paid after 7/1/10. Postmarks are not accepted.

Credit cards will be accepted starting June 1, 2010. Visit www.slvlesa.org to pay online.

The Board has waived late penalties through July 1, 2010.

So the stakes just went up in a big way for the 10’s of thousands of home and business owners in the unincorporated areas of the county. Now, if they don’t pay the “protection fee”, their home will be collateral for the fee, and the SLVLESA will take that home to cover the fee. And business owners will lose their business license, making it impossible to legally do business in the state of Utah!

Houston… we have a problem.

To make matters worse, the “police protection” that this fee is supposed to cover is not for your elected county Sheriff and his lawfully appointed deputies. But instead, it is for a private mercenary security force, that have been described by the people living in these unincorporated areas as “militant, strong, scary, and some have tattoos all the way down to their wrists“. Some residents have even stated that they would feel more safe without these thugs for hire hanging around at their quickie marts.

That takes us up to September, 2010. A new bill was drafted by the private California company on behalf of the Unified Police District, the County Council, and the Elected Sheriff and unelected CEO of the UPD:

2010 Police Fee Statement – Billing Cycle 3

Option 1 (shown below) is the only amount due. Amounts delinquent from prior installment periods, including late penalties, have been reported to Salt Lake County as delinquent. Such delinquent amounts, totaling $127.60, will be included on your 2010 property tax bill. Please see the reverse side for additional details…

Balance due: $54.25

Credit cards are now accepted.

A late penalty of $5.80 will apply if paid after 10/1/2010

Final statement for 2010.

*The County Council and Mayor voted to extend a credit as sales tax revenues were slightly higher than projected.

Now, in September, we see that anyone who did not pay their gangland style protection fee is now subject to a lien on their home through a property tax levy, meaning that now all supposedly free people who falsely believe that they own their home and property, even if it is free and clear of all debts and liens, must pay extortion money to the Unified Police Department or they run the risk of having their home and property stolen from them by their county police department, the one that is supposed to be protecting them from theft!

The County Council, including the Mayor and the Sheriff, now have the ability to take your home if you do not pay the a fee to protect you.

Hopefully, the delicious irony of this whole situation is not lost on you who are reading this.

And finally, we come to February of 2011, where we see the billing cycle start fresh for the new year of forced “police protection”.

With no poorly-writen apology to accompany it this time in 2011, a new year’s cycle and a new bill has been sent out to the enslaved occupants of the unincorporated areas of Salt Lake County, that have now been forced to participate in the Salt Lake Valley Law Enforcement Service Area:

2011 Police Fee Statement – Billing Cycle 1

You may pay the Option 1 (remaining balance), or Option 2 (installments currently due) amount shown on the Amount Due line. If you pay Option 1, you will not receive another statement until next year. If you pay only Option 2, you will receive another statement in April…

OPTION 1
2011 Police Fee: $162.00
Delinquencies: $63.80
Adjustments/Credits**: ($6.75)
Amount Due: $219.05

**The County Council voted to extend a credit, included here.

To view scanned images of these letters, please visit and explore this site: http://oooorgle.com/BeyondTheCorral/?p=8512

Now, it is important to understand what has happened here. The person to which these letters and bills were sent has not in any way acknowledged or offered his participation or support of this action taken by the county. He, nor any of his neighbors, did not vote to implement this corporate police force, this special district run by a foreign (out-of-state) corporation, or this police protection fee. It was not wanted or needed for him to feel safe and secure in his home. The only thing he fears at this point is that the county of Salt Lake, led by the very elected Sheriff who is supposed to protect his rights of property and freedom, will soon claim that they have ownership of his land and property and will confiscate (steal) that home and land he worked so hard to obtain from under his feet.

Is this what the Sheriff is supposed to be? A mafia leader that takes peoples property as a matter of force? A protectorate of tyranny and corruption? A Chief Executive Officer of a private police force that takes peoples property by the unconstitutional legal corporate codes that they voted in without the people’s consent?

Yes. Yes. And yes. This is the new Salt Lake County. And it isn’t the first bunch of suckers to fall prey to this federalization and privatization scheme. Do you know if you still have a Sheriff’s Department? Do you know which government entities within your county have become “Special Financing Districts”?

While we have just covered the police in Salt Lake County, we also have a Unified Fire Department, now run in the same manner as the UPD. And I just recently found out that my Sewer District, named the “South Valley Sewer District” is also a special district. When  questioning the receptionist as to why a lien had been put on a certain property by the Treasurer on behalf of the Sewer District, she informed me that we do not have a choice of whether we want to pay the $20.00 or so fee for the already-built-before-this-special-district-came-along sewer system. The county, it turns out, is involved in many of these types of revenue building un-voted upon districts, and the same liens and confiscation of property policies are in effect for each one.

Again, this is the definition of service at the barrel of a gun!

—————-≈—————-

Addendum:

-The Big Lie-
Is The County Indeed Broke?

—————-≈—————-

Once again, Councilman Bradley tells us in his first poorly constructed letter/bill that the home and business owners in the County of Salt Lake must pay this “police protection fee” despite the fact that the county has already cut more than ¼ of the services that they already pay for with their hard earned tax dollars, and after exclaiming that the police budget was already cut by 7%.

The stated causality of all of these budget cuts and the sudden necessity to create a fictional district and charge protection money for police services? Even as these same police drive around no doubt federally funded shiny new supped-up gas-guzzling Dodge Chargers and SUV’s, militantly armored in new black uniforms straight out of Pink Floyd’s The Wall ???

Why, “the national economic recession”, of course… Low tax, not enough property tax, and a general economic slump.

Well… I for one did not believe that excuse. You see, I just so happen to know where to look to verify whether or not a corporate government structure like “Salt Lake County”, the “Salt Lake City Corporation”, the “Draper City Corporation”, and all other private corporate “governments” in the United States are indeed telling the truth about their downtrodden economic financial circumstances.

Every government (all private corporations) by federal law must file a Comprehensive Annual Financial Report (CAFR) for each fiscal year of business. This report, the CAFR, is the full accounting of what that government is holding (taxes, investments and the returns on those investments, funds, bonds, etc…), as well as what it spent, saved, invested in, purchased (real estate), and transferred into other funds and state or federal governments.

Salt Lake County’s most recent CAFR, for its business year ending December 31, 2009 reveals quite a different story than what our befuddling and grammatically challenged councilman Jim Bradley stated in his diabolical letter. Let’s just examine a few areas where Salt Lake County is hiding, or at least not reporting to the public in its purposefully limited general budgetary statements, more than enough money to pay for police services and beyond!

Remember, this is only the county, and not the individual cities, which each have thier own CAFR’s.

On page 16 of this revealing comprehensive annual financial report, Salt Lake County Auditor Jeff Hatch, along with the Director of Accounting and Operations, Stephen G. Spencer write in the “Manager’s Discussion and Analysis”, under the “Financial Highlights section”, that:

“The County’s government-wide net assets (the amount by which assets exceed liabilities) as of December 31, 2009 were $897.3 million.” 

“The portion of net assets which represents the amount the County can use to meet ongoing financial obligations is the unrestricted net assets.  This amount was $82.7 million at December 31, 2009, a decrease of $5.9 million from the end of 2008.  This decrease is explained generally by the economic decline.” –So, the County had $82.7 million in cash and liquid or sellable assets with no restrictions it could have spent on the “deficit” and on the Police, but did not—

On page 20, under the section entitled “Significant changes in expenses”, it states:

“Combined sales taxes and transient room taxes decreased $13.0 million compared to 2008 due primarily to declining taxable sales and decreased tourism, both coming as a result of the general economic downturn.”

However…

Property taxes increased $5.8 million or 3.1% compared to 2008…” -meaning that our dear County Council and the SLVLESA either lied to the people of Salt Lake County, or is just more corrupt than anyone can imagine.

And…

“Government-wide expenses overall were $31.6 million less than the prior year.  This represents a 5.5% decrease compared to 2008.”

And…

“Public works expenses decreased approximately $5.0 million.  Due to shrinking budgets, less funding was available to maintain roads, plow snow, etc.  Therefore, actual expenses had to be reduced to adjust to budget cuts.”

And…

Interest on long-term debt decreased $2.3 million (13.4% less than 2008 expense) primarily because certain bonds were recently paid off…”

Therefore, when Councilman Bradley stated in his original letter that sales tax revenues were down for 2009/2010, he may have (purposely) forgot to disclose the above-mentioned facts, which quite belittle this fearful but well-played talking point used in his letter of demand to the people of the unincorporated county, now labeled the SLVLESA, for payment of a police “protection fee”.

But these are just small inconsequential potatoes when we realize what other wealth the County is hiding from us…

On page 23, as stated within the “Financial Analysis of Salt Lake County Funds” section, it states:

“As of December 31, 2009, aggregated fund balances of all governmental funds were $270.5 million, which is a $27.8 million increase over the prior year…”

“Approximately 57.3% (or $154.9 million) of the aggregated fund balances is unrestricted and undesignated, which represents $54.0 million of the General Fund equity which is available for appropriation by the County Council at its discretion, and $56.2 million in capital projects funds and $44.7 million in special revenue funds assigned for fund purposes.”

“As compared to 2008, the undesignated fund balance of the General Fund increased 37.5%, or $8.5 million.  In general, this increase occurred as a natural consequence of the budget plan.  Namely, the governing body determined the General Fund equity should be built up during 2009 so the minimum reserve policy could be preserved.  So, the budget was structured to achieve that goal.  This plan included substantial budget reductions and one-time transfers in.”

On page 52, we can see that Salt Lake County has some money socked away in the “Utah Public Treasurers’ Investment Fund (PTIF)” to the tune of $303,803,493.00 as of December 31, 2009.

This fund is described in the CAFR as:

A voluntary external local government investment pool managed by the Utah State Treasurer to improve investment efficiency and yield.  These monies are invested in securities permitted by the (Utah Money Management) Act and contain no withdrawal restrictions other than timely notice of intent to withdraw an amount greater than $2 million.  Investment activity of the State Treasurer in the management of the PTIF is reviewed monthly by the Council and is audited by the Utah State Auditor.  Monies invested in this fund are not insured and are subject to the same market risks as any similar investment in money market funds.”

To add even more insult to our community’s economic pain, it states:

Government and agency securities include long-term loans issued by the Agency for International Development which are registered and fully guaranteed by the Federal government.

And, so instead of using that money to benefit the people of Salt Lake County or even the State of Utah, it is invested in federal:

“…certificates of deposit, U.S. Treasury obligations, U.S. agency issues, high-grade commercial paper, banker’s acceptances, repurchase agreements, corporate bonds, money market mutual funds, and obligations of governmental entities within the state of Utah (meaning obligations to the Fed and other private corporations).”

And much of it is invested For “International Development”, leaving us poor tax-strapped Utahans out in the cold.

In fact, on page 152 it reports the total (on balance sheet) governmental fund balance totals since the year 2000 (not including funds like the above mentioned Public Treasurers’ Investment Fund (PTIF) listed above, as this is not a designated government operational fund, just an extra risky, barely legal investment fund). This is a good look at how governments continue to grow their power and wealth base over time, and why you should always look at what government totals are for a period of many years or decades, and not just one year (Note: these are just governmental funds, not all funds).

This chart shows that:

1) End of fiscal year 2000 fund balances totaled over $20 million for the general fund, and almost $80 million for all other governmental funds combined.

2) End of fiscal year 2005 fund balances totaled over $47.5 million for the general fund, and almost $179 million for all other governmental funds combined.

3) End of fiscal year 2009 fund balances totaled over $36.2 million for the general fund, and almost $235 million for all other governmental funds combined.

4) The actual portion of these fund totals as of fiscal year 2009 ending December 31 of 2009, again listed as unreserved (not appropriated/apportioned for anything specific in the future) for all of these funds is listed at $190,731,914.

So, not including the $303.8 million from the State Treasurers Investment Fund above as well as other listed investments, Salt Lake County has more than $190 million dollars that could have been spent on the budgetary obligations of the county, like police, schools… (and how about those ever-expanding potholes?) – but are instead sitting in a multiple funds being invested and building wealth – not for the people, but for the corporate government called Salt Lake County, its Council, its Sheriff, and its Mayor. Instead, taxes are raised, fees are charged, and necessary public services – including school and police services – are cut to the extreme!

And yet even trickier ways of hiding money and assets can be found hidden within the comprehensive annual financial reports, as we can see on page 64, where it states:

8.6 Defeased Bonds—In prior years, the County defeased certain general obligation and lease revenue bonds by placing the proceeds of the new refunding bonds in an irrevocable trust escrow account to provide for future debt service payments on the old bonds. Accordingly, the trust account assets and the liability for the defeased bonds are not included in the statement of net assets. At December 31, 2009, $152,500,000 general obligation and lease revenue bonds outstanding are considered defeased.”

That’s another $152.5 million dollars we can add to the list of hidden of “off-balance sheet” assets not reported to the people of the county on the taxpayer budget.

And so the moral of the story is that the County of Salt Lake and that of the 99.9% of governments across the nation are not losing, but rather gaining money hand over fist each year, but not reporting this to its people in any comprehensible way, except on this comprehensive annual financial reporting system which is not discussed in any open or candid way with the public, ever. Instead, the people get the taxpayer budget report, accounting for tax in and tax and deficit out, never mentioning these hidden funds and investments; knowing that Americans have been dumbed down by design to never even imagine that this shell game and massive theft of taxpayer money, land, and corporate takeover and governance can possibly be taking place right under our noses.

And these “Special Financing Districts” are being set up all over the country as well, unnecessarily double-taxing the people within, and using their land and property as collateral without even their slightest comprehension.

I have now given you this information, even with the fear of retaliation from my police-state, my corporate CEO Sheriff Winder, his private police force, the Mayors of each city and the County, and the County Council – who are all involved in this scheme.

Remember, the mayors of each city are on the board of directors of this UPD, along with the County Council and the Mayor, as stated above, “The new department (UPD) will be run by mayors of participating cities.” It is also rumored (from a reputable inside anonymous source) that the mayors of each city and the county mayor are meeting monthly, all together, at a different undisclosed private location each month, the knowledge of which is kept secret from the public.

This is organized crime… a well-oiled machine of corruption.

And this is not at all dissimilar to the Internal Revenue Service (IRS), which now that we understand the above information, could really be considered the ultimate in “Special Financing Districts”, covering the whole district of the United States, and taking the homes and property of millions of Americans for not paying what they also call a mandatory un-apportioned tax!

And for all of this, I am calling for an immediate recall and subsequent arrest and imprisonment by Grand Jury indictment of all parties involved, for the reinstatement of the lawful and constitutional Sheriff’s Department, and a reaffirmation of its lawful, constitutional purpose in Salt Lake County and the state by new law.

I am hopeful that the few elected lawful and constitutional Sheriff’s of other counties left in Utah, to which I will be sending this information, will rise up at their Sheriff’s Association meetings and commit to supporting those like me who wish to resolve this situation in the lawful manner described above, as well as helping to disseminate this information nationally to all law enforcement and military outfits, but especially to our still lawful Sheriffs. And I am hopeful that they will be supportive of a law that will never allow this type of corruption to happen again.

And now, if you have gotten this far, I am asking you who are reading this to please pass this information on, with the author’s (my) permission, to be posted, edited, re-written, and placed in any publication, newspaper, or website. I only ask that my name also be submitted as the original writer and researcher of this article, without any compensation or contract required.

This is too important to be shelved. Copyrights and credits be damned, for we are in serious collective trouble as a people. And this police-state tyranny, if it hasn’t already, is coming to a county near you.

Please stand up for your rights, and play this forward…

.

Clint Richardson (realitybloger.wordpress.com)

Sunday, May 22, 2011

 

 

 

 

Government’s Conflict Of Interest


As I was going through my emails, I got yet another request from someone who wanted me to sign a petition to send to my political “representative” in office, asking politely to stop funding big oil companies. I sighed in disillusionment, trying to think of a way to make people understand that this form of political action is absolutely useless in a corporate government.

I am so saddened as of late that these types of “petitions” are the focus of so much wasted energy. Writing, calling, and even worse… emailing your “representative” in this kind of futile effort is the worst part of our mutually controlled opposition. The sense of satisfaction and patriotism that is felt by these actions is indeed exactly the desired effect of these actions. They accomplish nothing, and yet makes whole groups feel a sense of accomplishment. A petition has NO legal jurisdiction. A letter is scanned and then filed in the trash, while emails are dumped into a folder on a digital archive never to be seen again.

What a game we play – pawns moving around exactly as we are lead, never changing anything, begging our masters to do what’s right and to start representing us. It’s pathetic!

Don’t you understand? The government owns Exxon Mobile. It has controlling stock interest in the company. It owns British Petroleum, Chevron, and any other petroleum based companies you can think of. If it didn’t have a major or controlling financial interest in BP, that gulf oil spill would have been immediately cleaned up! It wouldn’t have cost the government anything to force this corporation to clean up its mess.

Don’t you Understand? Of course the government gives billions and billions in R&D grants to Pharmaceuticals and medical companies. Government owns those as well, both national and international. It hands these subsidies to these companies because it is profitable for government!!! It must do this to justify its tax collections.

Don’t you understand? They wont stop giving their own profitable businesses subsidies (taxpayer money) just because you say pretty please. They wont stop making a profit to save a few square miles of farmland or housing. And they certainly wont change anything just because a bunch of pussified patriots sign a piece of paper demanding it.

And so, I have compiled this list of just the New York State Retirement Fund’s holdings in Pharmaceuticals, oil companies, the media, and other industries. This is only one out of over 200,000 governments, Federal, state, and local. And if just one single government owns this much in these companies, the answers to the following questions should be as clear as day… government owns and profits from these corporations, and passes the laws which regulate them and to guarantee those profits, regardless of what the public wants. The answer to all questions is simple… it’s just business.

Why are pharmaceuticals and medical companies out of control and killing people? Why is cancer the number one most profitable business, despite proven cures? Why are vaccines soon to be mandatory without one shred of evidence as to them being medically sound? Why are banks allowed to charge practically unlimited interest despite usury laws? Why are banks allowed to foreclose on millions and millions of homes? Why are banks allowed to ignore state laws in lieu of federal laws? Why are products made in China all over the stinking place? Why are dangerous and poisonous products being imported into America? Why is the American market so saturated with foreign products? Why was Exxon and BP not required to clean up their historical oil spills? Why is oil still being used when such vast and wonderful alternatives are all around us? Why is the media lying and misinforming us at every turn, supporting government in every way?

All of these questions are answered by this simple realization…

Government owns it all!!!

Government is in a direct conflict of interest by being major majority shareholder (owner) of all significant corporations, both foreign and domestic.

The following is the New York Pension System holdings in major corporations around the world in 2009. This incomplete list and a 2010 list can be downloaded here:

http://www.osc.state.ny.us/retire/about_us/annual_report_2010/index.php

I challenge you to find a company this government doesn’t own stock in!

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=

Company                                   # of shares            Market Value 2009

–Oil and Energy–

Exxon Mobil Corp                           18,125,534              1,234,348,865
Chevron Corp                                    7,698,784                  517,666,219
ConocoPhillips                                 6,003,030                 235,078,655
Schlumberger Ltd                            4,624,733                  187,856,654
BP plc – Sponsored ADR                   202,055                      8,102,406
Royal Dutch Shell plc – A                1,816,523                   40,904,335
Royal Dutch Shell plc – A               2,842,162                   63,886,007
Royal Dutch Shell plc – A                    84,900                      3,761,070
Royal Dutch Shell plc – B                     35,812                       1,561,761
Royal Dutch Shell plc – B                1,553,412                   34,088,987
American Electric Power Co Inc    1,785,207                   45,094,329
PG&E Corp                                         1,249,975                    47,774,045
Questar Corp                                        802,950                   23,630,819
Occidental Petroleum Corp             2,913,414                  162,131,489
Walter Energy Inc                                188,400                    4,308,708
Rio Tinto Ltd                                         136,488                     5,364,638
Rio Tinto plc                                          352,517                    11,874,086
Praxair Inc                                           1,153,745                   77,635,501
Marathon Oil Corp                           2,683,221                   70,541,880
Southwest Gas Corp                            129,220                     2,722,665
Southwestern Energy Company    1,532,452                   45,498,500
National Oilwell Varco Inc             1,757,094                   50,446,169
National Fuel Gas Company             290,140                     8,898,594
Murphy Oil Corp                                 849,129                    38,015,505
Petro-Canada                                        315,730                     8,499,603
Petro-Canada                                         49,900                      1,326,342
Petrohawk Energy Corp                       60,100                       1,155,723
Petrol Ofisi A.S.                                   268,128                          612,205
Petroleo Brasileiro – ADR                     2,330                            70,995
Petroleo Brasileiro S.A. – ADR          88,940                      2,179,030
El Paso Corp                                     2,900,913                    18,130,706
El Paso Electric Company                 104,540                      1,472,969
Petroleum Development Corp            32,465                         383,412
Petroplus Holdings AG                       118,882                     1,673,894
Petroquest Energy Inc                         88,900                         213,360
FirstEnergy Corp                               1,146,792                   44,266,171
Diamond Offshore Drilling Inc         324,678                  20,409,259
Frontier Oil Corp                                  721,302                     9,225,453
Forest Laboratories Inc                   1,580,235                   34,701,961
Forest Oil Corp                                     367,300                    4,829,995
Gulfmark Offshore Inc                         28,900                        689,554
Gulfport Energy Corp                            11,000                          25,520
Gas Natural SDG                                   116,361                     1,589,728
OGE Energy Corp                                385,853                      9,191,018
Oil & Natural Gas Corp Ltd                547,011                      8,411,905
Oil Search Ltd                                    2,186,952                    7,992,540
Cairn Energy plc                                   475,999                  14,839,441
Oil States International Inc               188,040                    2,523,497
Electricite De France (EDF)              505,068                  19,805,545
Gaz De France                                       863,514                  29,636,703
Scottish & Southern Energy plc          511,473                    8,130,299
Tokyo Electric Power Company         359,150                    8,945,115
Tokyo Electron Ltd                               363,650                  13,401,701
Tokyo Gas Company                         2,375,746                    8,298,394
China Petroleum Chemical             3,982,000                   2,548,480
China Power Int Dvlp Ltd               6,012,000                     1,194,643
China Coal Energy Company             416,000                       307,035
China Oilfield Services                        212,000                        167,685
China Shenhua Energy Co                  341,000                       768,240
Chiyoda Chemical Engineering         935,400                    4,962,535
Chubu Electric Power Co Inc              241,917                     5,314,973
Shanghai Electric Grp Co Ltd      12,052,000                    3,467,866
Shinsei Bank Ltd                               1,450,154                      1,453,531
Nissan Chemical Industries Ltd          41,500                        344,958
China Coal Energy Company – H     416,000                        307,035
Hong Kong & China Gas Co Ltd    5,485,330                     8,649,127
Hong Kong Electric Holds Ltd      3,200,500                   18,996,516
Mitsubishi Electric Corp                 3,036,548                   13,557,939
Mitsubishi Gas Chemical CO Inc          4,000                          17,009

–Automobile Industry–

General Motors Corp                       1,869,290                    3,626,423
Ford Motor Company                      7,547,012                   19,848,642
Toyota Motor Company                  1,764,412                    55,735,197
Toyota Industries Corp                       177,163                      3,757,786
Toyota Tsusho Corp                           143,200                       1,371,542
Honda Motor – ADR                         188,000                     4,455,600
Honda Motor Company                 1,297,926                    30,421,167
Mazda Motor Corp                             715,000                       1,187,203
Nissan Motors Japanese Ord       4,282,864                     15,176,697
Mitsubishi Corp                                  859,769                     11,185,615
Mitsubishi Motors Corp                    271,000                         342,969
Hyundai Motor Company Ltd           30,860                      1,238,193
Volvo AB – A Shares                             81,950                         434,170
Volvo AB – B Shares                           183,135                         968,031
Volkswagen AG                                     21,483                     6,560,285
Volkswagen AG – Preferred               16,006                         921,026
Harley-Davidson Inc                          796,512                   10,665,296
Yamaha Corp                                         42,813                         414,823
Yamaha Motor Company Ltd          184,000                     1,630,050
CarMax Inc                                       1,128,900                    14,043,516
Advance Auto Parts Inc                    492,883                   20,247,634

–Pharmaceuticals and Healthcare–

Abbott Laboratories                      5,864,256                  279,725,011
Baxter International Inc               2,975,728                  152,416,788
Bayer AG                                             799,730                   38,861,936
Pfizer Inc                                      26,880,813                  366,116,673
Eli Lilly & Company                     3,904,933                  130,463,812
Merck & Company Inc                  7,814,727                 209,043,947
Merck KGaA                                       159,294                    14,041,129
Teva Pharmaceutical Ind Ltd         613,430                   27,635,022
Bristol-Myers Squibb Company 8,358,967                 183,228,557
Metlife Inc                                        3,135,011                   71,384,200
Colgate-Palmolive Company        1,968,159                 116,082,018
Bristol-Myers Squibb Co              8,358,967                 183,228,557
Roche Holding AG – Genuss          930,152                   127,777,796
Roche Holdings Ltd – ADR              49,000                      1,682,807
Gilead Sciences Inc                       3,936,647                 182,345,489
Glaxosmithkline plc                      6,465,941                 100,789,027
Glaxosmithkline plc – ADR              32,400                     1,006,668
Novartis AG – ADR                           145,280                     5,495,942
Novartis AG – Regular                 2,664,079                 100,935,336
Noven Pharmaceuticals Inc            452,987                      4,294,317
Amgen Inc                                       4,272,238                  211,561,226
Sanofi-Aventis                                2,421,930                 136,276,979
Sanofi-Aventis – ADR                        81,400                     2,273,502
Astrazeneca                                          22,055                         773,644
Astrazeneca plc                               1,833,135                   64,400,614
Astrazeneca plc – Spons. ADR         123,711                      4,385,555
3M Company                                   2,536,317                  126,105,681
UnitedHealth Group Inc              4,777,620                   99,995,587
Tenet Healthcare Corp                 2,636,132                      3,057,913
Pharmaceutical Prod Dvlpmt Inc  678,871                    16,102,820
Pharmerica Corp                                 98,534                      1,639,606
Humana Inc                                       930,895                   24,277,742
St Jude Medical Inc                        1,575,296                  57,230,504
AMN Healthcare Services                125,274                        638,897
American Medical Sys Holds. Inc  259,590                    2,894,429
American Physicians Capital Inc     26,420                     1,081,106
Watson Pharmaceuticals Inc          470,779                   14,645,935
RehabCare Group Inc                         92,232                    1,608,526
Reinsurance Grp of America Inc    522,133                   16,911,888
Univ Health Serv Inc – Class B       203,950                    7,819,443
Basilea Pharmaceutica                       48,480                    3,027,202
Savient Pharmaceuticals Inc             91,058                        450,737
Nationwide Health Propts Inc        375,204                    8,325,777
National Health Investors Inc           12,700                        341,249
Natus Medical Inc                                77,400                       658,674
Chugai Pharmaceutical Co Ltd       290,158                    4,876,605
Shire Pharmaceuticals Group         277,100                    9,958,974
Health Care Reit Inc                         393,735                  12,044,354
Health Mangmnt Asc Inc – Cls A   797,100                    2,056,518
Health Net Inc                                   409,340                    5,927,243
Healthcare Realty Trust Inc              28,015                        419,945
Healthcare Services Group Inc       194,790                    2,916,006
HealthSpring Inc                               309,519                    2,590,674
Healthways Inc                                  233,425                    2,047,137
MedCath Corp                                      41,245                        299,851
Medco Health Solutions Inc       2,204,279                   91,124,894
Medical Properties Trust Inc          125,700                       458,805
Mediceo Holdings Company Ltd     56,700                       603,338
Medicines Company                             5,400                         58,536
Medicis Pharma Corp – Class A    370,640                    4,584,817
Medtronic Inc                                4,208,522                124,025,143

–Banks and Investments–

Morgan Stanley                              4,301,770                   97,951,303
Goldman Sachs Group Inc/The   1,961,585                207,967,242
Goldman Sachs Ssga Em Mrkts  8,934,287                102,501,423
Wells Fargo & Company             16,257,120                 231,501,389
Bank of America Corp                 23,819,237                 162,447,196
Citigroup Inc                                 18,601,505                  47,061,808
Citigroup Inc Depository Shares    199,368                    3,046,343
American Express Company       4,249,664                  57,922,920
American Financial Group Inc       492,854                    7,910,307
Visa Inc – Class A                              390,400                 21,706,240
Mastercard Inc – Class A                 306,830                 51,387,888
Zions BanCorp                                   558,029                   5,485,425
Fifth Third Bancorp                       2,678,672                    7,821,722
Fannie Mae                                             6,000                           4,200
Freddie Mac                                            6,100                            4,636
Hartford Financ Serv Grp Inc      1,099,070                   8,627,700
Hudson City Bancorp Inc             2,946,851                 34,448,688
Western Union Company             2,656,147                  33,387,768
Siemens AG                                         757,252                  43,473,647
Experian Group Ltd                        1,034,174                    6,474,091
Equifax Inc                                           626,161                  15,309,636
Equinix Inc                                             13,800                       774,870
State Street Corp                             1,867,120                  57,469,954
People’s United Financial Inc      1,234,207                  22,178,700
Fidelity Nat Financial Inc – Cls A  839,867                  16,385,805
Fidelity Nat Info Services Inc          657,748                   11,971,014
Westpac Banking Corp                     298,305                   3,956,638
Axis Bank Ltd                                      191,458                     1,565,891
Discover Financial Services          1,874,548                  11,828,398
Softbank Corp                                 3,664,300                 46,596,748
Solera Holdings Inc                           556,652                  13,793,837
Signature Bank                                   210,333                    5,937,701
HSBC Holdings plc                        8,349,382                  47,271,967
HSBC Holdings plc                        1,389,200                    7,645,081
HSBC Holdings plc – Rights            893,766                   1,806,322
Royal Bank of Canada                       169,300                   4,949,214
Royal Bank of Scotland                 6,330,271                   2,223,006
Royal Bank of Scotland, Rights   6,427,941                                 -0-
Allied Irish Banks                            1,216,447                      969,046
National Australia Bank                1,406,252                 19,638,984
Aust & New Zealand Bank Group   701,045                    7,671,606
Commonwealth Bank of Australia    19,794                       477,637
National Bank of Canada                  161,300                    5,161,497
National Bank of Greece                  102,386                     1,551,051
Deutsche Bank AG – ADR                    9,800                      398,370
Deutsche Bank AG – Registered     654,969                26,888,105
Credit Suisse Group                        1,174,244                 35,793,762
Credit Suisse Group – Spons ADR         300                           9,147
Bank Montreal Quebec                     428,291                  11,230,235
Bank Mutual Corp                               94,860                       859,432
Bank of Baroda                                   542,734                   2,506,942
Bank of Communications             1,376,000                       955,210
Bank of Cyprus Ltd                              51,909                        157,826
Bank of East Asia                           2,605,019                    5,028,527
Bank of Hawaii Corp                         192,499                    6,348,617
Bank of India                                      934,270                   4,040,186
Bank of New York Mellon Corp  4,420,585                124,881,526
Credit Agricole S.A.                            311,625                    3,439,044
Credit Saison Company                       14,918                        144,241
Bank of Nova Scotia                          149,900                     3,701,779
First Bancorp Puerto Rico                143,010                       609,223
Bank Yokohama Ltd Japan Ord     903,100                    3,821,968
Hiroshima Bank Ltd/The                   13,000                         49,357
Bank of Kyoto Ltd/The                       73,000                       614,924
Osaka Gas Company Ltd               2,035,146                   6,346,309
Bank of China Ltd – H                   8,527,000                   2,827,663
Ind Comm Bank of China Ltd      4,464,000                   2,321,280
China Citic Bank – H                        484,000                       182,983
China Construction Bank – H      4,331,000                   2,458,890
China Merchants Bank – H             283,000                      494,428
Shizuoka Bank                                    183,000                    1,637,866
Shinsei Bank Ltd                             1,450,154                     1,453,531
Chiba Bank                                          176,500                       866,685
Cheung Kong (Holdings)              3,376,000                  29,077,161
Hang Seng Bank Ltd                         328,500                    3,308,313
Hanmi Financial Corp                        55,300                           71,890
Mitsubishi UFJ Financial Grp     6,409,847                 30,890,829
Mitsubishi UFJ Lease & Fin Co Ltd    1,600                          33,370
Bangkok Bank                                    554,400                      1,172,424
Bangkok Bank Public Co Ltd          446,200                         937,316
Siam Comm Bank Public Co Ltd    376,900                         579,192
Malayan Banking Berhad                802,525                         849,745
Malayan Banking Berhad – Rights  361,136                                 -0-
Blackrock Inc                                           7,135                         927,835
Blackstone Group Lp/The             1,289,215                     9,346,809
Zurich Financial Services                      9,387                     1,486,829
Aetna Inc                                           1,881,924                   45,787,211
Cincinnati Financial Corp                 736,150                   16,835,751
First American Corp                           496,770                  13,169,373
First Bancorp Puerto Rico                 143,010                       609,223
First Cash Financial Services Inc      48,800                       728,096
First Commonwealth Finan Corp   394,940                     3,503,118
First Financial – 144A GDR                 48,113                       444,083
First Financial Bancorp                        62,100                       591,813
First Financial Bankshares Inc           54,475                    2,624,061
First Financial Holding Company   978,455                        451,546
First Financial Holdings Inc               23,950                       183,218
First Horizon National Corp              766,191                  8,228,888
First Mercury Financial Corp            213,900                  3,088,716
First Midwest Bancorp Inc                280,825                   2,412,287
First Niagara Financial Group Inc   414,400                   4,516,960
First Potomac Realty Trust                  75,284                      553,337
First Quantum Minerals Ltd                 6,400                      180,583
First Solar Inc                                        39,400                   5,228,380
Discover Financial Services            1,874,548                 11,828,398

–The Media–

Walt Disney Company/The             7,975,404               144,833,337
News Corp – Class A                          7,746,798                 51,283,803
Time Warner Cable Inc                     1,476,825                 36,625,251
Time Warner Inc                               4,885,448                 94,289,152
CBS Corp – Class B                            3,518,760                 13,512,038
General Electric Company              39,551,471              399,865,372
Sony Corp                                                811,290                 16,411,435
Sony Financial Holdings Inc                         24                       63,906
Vivendi Universal                               2,414,568               63,876,002
Viacom Inc – Class B                         2,363,387                41,075,666
Discovery Commun Inc – Series A       79,244                  1,269,489
Discovery Commun Inc – Series C       78,831                   1,154,874
Marvel Entertainment Inc                    175,800                 4,667,490
Comcast Corp – Class A                   10,473,672             142,860,886
Comcast Corp – Special Class A            20,259                     260,733
DreamWorks Anim SKG Inc – A        285,700                  6,182,548
DISH Network Corp – Class A             475,200                 5,279,472
DIRECTV Group Inc/The                 2,048,939               46,695,320
Dolby Laboratories Inc – Class A         419,110                14,295,842
British Sky Broadcasting                   3,626,650               22,534,452
Deluxe Corp                                            263,202                  2,534,635
Warner Music Group Corp                     16,700                       39,245
Virgin Media Inc                                    280,696                  1,347,341
New York Times Company/The          356,178                  1,609,925
Cinemark Holdings Inc                         373,718                  3,509,212
Hitachi Ltd                                           5,368,600               14,458,313
Fujifilm Holdings Corp                         378,094                  8,134,553
Netflix Inc                                                225,586                  9,682,151
NETGEAR Inc                                           68,745                     828,377
Gamestop Corp – Class A                      913,536                25,597,279
Ticketmaster Entertainment Inc           74,000                    273,060
Tokyo Broadcasting System Hold Inc  18,900                     247,612

–Food and Beverage–

Monsanto Company                           2,280,249            189,488,692
General Mills Inc                                  1,369,515               68,311,408
H.J. Heinz Company                            1,255,221               41,497,606
Hershey Company/The                          609,148               21,167,893
ConAgra Foods Inc                               1,997,457               33,697,100
Dr Pepper Snapple Group Inc              865,369               14,633,390
Coca-Cola West Japan                               3,500                       55,847
Coca-Cola Amatil                                      42,075                     253,456
Coca-Cola Company/The                   7,633,116              335,475,448
Coca-Cola Enterprises Inc                  1,613,637                21,283,872
Pepsi Bottling Group Inc/The              756,262                16,743,641
PepsiAmericas Inc                                  349,239                 6,024,373
Pepsico Inc                                            6,512,462             335,261,544
Groupe Danone                                       231,868                11,285,823
Nutrisystem Inc                                        59,400                     847,638
AES Corp/The                                      2,510,794                14,587,713
Cracker Barrel Old Cntry Store Inc       50,067                  1,433,919
McDonald’s Corp                                4,406,583             240,467,234
Wendys/Arbys Group Inc – Class A 1,743,327                 8,768,935
Safeway Inc                                           2,981,340              60,193,255
Cosco Corp Singapore Ltd                    320,000                    172,609
Cosco Pacific Ltd                                  1,704,000                1,682,013
Smiths Group plc                                  1,327,512               12,729,661
Tesco                                                     12,932,819              61,803,212
Smithfield Foods Inc                              489,493                4,630,604
Smucker (J M) Company/The              545,201               20,319,641
Darden Restaurants Inc                         527,787               18,081,983
Yum! Brands Inc                                   2,110,315               57,991,456

–Telecom/Cellphone–

AT&T Inc                                             22,256,707            560,869,016
Verizon Communications Inc          10,831,468            327,110,334
Sprint Nextel Corp                                9,777,244             34,904,759
Motorola Inc                                          9,547,354             40,385,307
Qwest Communications Int Inc         4,735,734              16,196,210
Vodafone Group plc – Spons ADR        109,595                1,909,145
Vodafone Group plc New                 56,080,988            98,670,972
Samsung Electronics Company Ltd          4,489               1,843,305
Ericsson LM Tele Co – Spons ADR       126,820               1,025,974
Ericsson LM Tele Co – B Shares         7,402,571            60,439,750
Nokia Oyj                                               2,005,360             23,643,146
Nokia Oyj Corp – Sponsored ADR         151,200               1,764,504
Manitoba Telecom Services Inc              38,800                  985,304
Singapore Telecommun Ltd             23,712,699              39,463,971
France Telecom S.A.                             4,161,013              94,746,495
Deutsche Telekom AG – Registered 5,484,668             68,232,281
Tele Norte Leste Part – ADR                   770,711             10,666,640
Tele2 AB – B Shares                                   66,884                  562,268
Telecom Corp of New Zealand           3,833,489               4,988,558
Telecom Egypt                                          133,000                   350,087
Telecom Italia – RNC                           1,380,285                1,404,691
Telecom Italia S.p.A.                           11,019,457              14,206,248
Telecommunication Sys Inc – Class A  411,900                 3,777,123
Teleflex Inc                                                144,400                5,644,596
Telefonica S.A.                                      5,056,407            100,835,142
Telefonos De Mexico                            1,746,900                1,326,618
Telefonos De Mexico S.A. – ADR         294,600               4,430,784
Telekom Austria                                    1,067,724              16,160,836
Telekom Malaysia Berhad                   1,383,000               1,335,389
Telekomunikacja Polska S.A.                   48,243                   257,585
Telekomunikasi Tbk PT                       1,385,900                  905,543
Telemig Celular Participacoes – ADR       1,959                     69,819
Telenor ASA                                           3,379,464              19,269,466
Telephone & Data Systems Inc             392,880              10,415,249
Teletech Holdings Inc                             533,062               5,805,045
Television Francaise (T.F.1)                     42,095                  329,804
Teliasonera AB                                      1,050,823               5,033,396
Telkom South Africa                                  74,690                  828,501

–Other Corporations of Note–

Diebold Inc                                        234,830              5,013,621
Halliburton Company                          3,077,890              47,614,958
Raytheon Company                               1,727,827              67,281,583
Hewlett-Packard Company                9,304,769            298,310,894
Home Depot Inc/The                          7,208,920             169,842,155
Fedex Corp                                             1,230,967               54,765,722
Allstate Corp/The                                 2,187,843               41,897,193
Amazon.Com Inc                                   1,316,841              96,708,803
Macy’s Inc                                              1,568,938               13,963,548
Sears Holdings Corp                                213,759                 9,770,924
Procter & Gamble Company/The   10,837,108              510,319,416
Johnson & Johnson                           10,447,583             549,542,866
Du Pont (E I) De Nemours & Co       3,521,463               78,634,269
Dow Chemical Company/The          4,280,075                36,081,032
Dun & Bradstreet Corp/The                 207,093                15,946,161
Staples Inc                                              2,512,085               45,493,859
Alcoa Inc                                                  3,117,832              22,884,887
Canon Inc                                              2,236,920               63,866,704
Canon Marketing Japan Inc                   35,500                     498,157
Hitachi Ltd                                           5,368,600                14,458,313
Caterpillar Inc                                       2,111,648                59,041,678
H&R Block Inc                                      1,177,370                 21,416,360

–Computers and Internet–

Microsoft Corp                                  28,680,246              526,856,119
Apple Inc                                               3,324,449             349,466,079
Texas Instruments Inc                       5,083,728                83,932,349
Google Inc – Class A                               974,378              339,142,007
Yahoo! Inc                                              5,126,172                65,666,263
Yahoo! Japan Corp                                      4,716                   1,235,222
Intel Corp                                            22,345,858             336,305,163
Dell Inc                                                    7,713,130                73,120,472
International Business Mach Corp  5,099,897              494,129,020
McAfee Inc                                                758,725                 25,417,288
Palm Inc                                                    401,500                  3,460,930
Oracle Corp                                         13,566,613               245,148,697
Oracle Corp Japan                                  192,600                   7,253,944
NVIDIA Corp                                        2,001,337                 19,733,183
Advanced Micro Devices Inc             1,847,932                   5,636,193
Cisco Systems Inc                             23,320,806              391,089,917
Intuit Inc                                               1,339,099                 36,155,673
Microchip Technology Inc                    756,250                16,024,938
Micron Technology Inc                      3,774,261                  15,323,500
Micros Systems Inc                                235,060                  4,407,375
Casio Computer Japanese Ordinary     91,200                      639,887
Electronic Arts Inc                               1,162,420                 21,144,420
Activision Blizzard Inc                           961,705                 10,059,434
THQ Inc                                                     123,910                      376,686

–Alcohol, Coffee, and Cigarettes–

Starbucks Corp                                     2,453,460                 27,257,941
Peet’s Coffee & Tea Inc                             23,620                      510,664
Green Mntain Coffee Roasters Inc      272,425                 13,076,400
Imperial Tobacco Group plc              1,426,448                32,038,870
Philip Morris International Inc         6,731,683               239,513,281
British American Tobacco                   1,137,258                 26,293,331
Lorillard Inc                                             568,189                 35,079,989
Reynolds American Inc                         582,000                20,858,880
Altria Group Inc                                   6,925,183                110,941,432
Molson Coors Brewing Co – Class B   568,782                 19,497,847
Anheuser-Busch InBev Npv                  709,929                 19,553,671
Anheuser-Busch InBev – Strip VVPR 225,008                             896
Seagrams (is owned by Vivendi Universal)  (See Media Listing)
Boston Beer Co Inc/The – Class A          21,950                     457,877
Brown-Forman Corp – Class B              391,530               15,203,110
Castle A. M. & Company                          39,400                     351,448
Constellation Brands Inc – Class A      768,209                  9,141,687
Diageo plc                                                  907,367               10,229,018
Fortune Brands Inc                                  715,098               17,555,656
Heineken Holding Nv – Class A            386,719                9,390,942
Heineken Nv                                            206,448                 5,865,762
Pernod Ricard S.A.                                  353,388               19,694,387

–The Stock Market (corporations)–

NYSE Euronext                                     1,044,464                 18,695,906
NASDAQ OMX Group Inc                     539,840                 10,570,067
Moody’s Corp                                            769,534                  17,637,719
Barclays plc                                             1,278,276                    2,711,681

–Airlines–

Continental Airlines – Class B                313,800                 2,764,578
Southwest Airlines Company              3,345,891                21,179,490
Delta Air Lines Inc                                      16,000                      90,080
JetBlue Airways Corp                               745,342                 2,720,498
Airtran Holdings Inc                                470,680                  2,141,594
Alaska Air Group Inc                                 191,600                3,366,412
All Nippon Airways                                      11,000                      42,989
British Airways                                          398,483                    804,201
Air China Ltd – H                                     446,000                     143,871
Japan Airlines Corp                                  176,000                     356,384
Singapore Airlines Ltd                             347,540                  2,286,147
Cathay Pacific Airways                            702,000                      697,471
Qantas Airways Ltd                                  220,300                     267,097
Ryanair Holdings plc – Spons ADR      298,400                6,896,024
Auckland International Airport Ltd         34,621                       33,789
Priceline.Com Inc                                       231,150               18,209,997

.

For more information on the Comprehensive Annual Financial Report, government wealth through investment, and this complete conflict of interest of government, please visit the following sites:

http://thecorporationnation.com/

https://realitybloger.wordpress.com/

http://cafr1.com/

http://cafrman.com/

.

Clint Richardson (realitybloger.wordpress.com)

Friday, May 6, 2011

The Senate: How Much Does It Cost?


I had to laugh out loud…

As I was searching for a glimpse into the unbelievable amounts of taxpayer money that it takes to fund the Federal Government and it’s Executive Departments by viewing its Comprehensive Annual Financial Reports, I came across an interesting report called the “2010 Detail of Appropriations, Outlays, and Balances” report.

This report can be downloaded here: http://www.fms.treas.gov/annualreport/index.html#part%20one

Other Financial Reports for the Departments of the Treasury, Defense, Commerce, The Post Office, The Social Security Fund, and many others can be found here: http://www.fms.treas.gov/finrep/fr_resources.html#agency

This “Appropriations, outlays, and Balances” report included the expense accounts and left over ongoing fund balances that are appropriated to the Senate, the House of Congress, the Library of Congress, the Architect of the Capital, the Botanical Garden, the Capital Police, an on and on…

And, while some of these “appropriations” were funny, some were not.

For instance, let’s look at the Senate…

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-= Senate Appropriations =-

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Did you know that each year the Treasury allots a certain amount of taxpayer money to go to the “Senate Hair Care Revolving Fund”?

Yep… The Federal Government has a fund that was created specifically for the hair care of its Senators! For fiscal year 2010, $33,387 was used to outlay this expense. The word outlay simply means “to spend, an amount expended, paid expenditures”.

There are only 100 Senators – 2 representing each of the 50 states.

This means that on each senator $333.87 in taxpayer money was spent to keep them looking sharp for the cameras, hairpieces and all!

But then, I guess that’s about what you’d expect from a fake Hollywood production like this.

But even more importantly, this “revolving fund” has a balance, which is appropriated solely for this Senatorial hair care. That fund balance, which is invested and gains each year, is $261,117.19. That represents a gain for this fund over fiscal year 2009 of about $36,000.

So we have a quarter of a million dollars designated for Senatorial hair care while many U.S. citizens live in destitute tent cities. It’s kinda funny… and kinda not.

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Farther down the list we have the “Senate Restaurant Fund”, listed as a “Public Enterprise Fund”.

The Senators tapped this fund for $72,370.12 for fiscal year 2010. This left a remaining balance in the “Senate Restaurant Fund” of $49,859.53.

That adds up to about $723.70 per Senator.

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The taxpayers also paid $123,856.74 towards the “Senate Health And Fitness Facility, Architect Of The Capitol”. This left an account balance of $256,380.37.

So taxpayer funded Senatorial gym memberships apparently cost $1,238.56 for each member of the Senate.

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The “Official Mail Costs, Senate” column states that the Federal Government appropriated $300,000 to this cost, adding to the existing balance already appropriated for Senate mailing services of $345,430.58. And after $115,546.71 of this money was actually used for mail, $161,082.59 was “withdrawn or used for other transactions”, the fund balance was left for fiscal year 2010 at $368,801.28 – a gain of a bit more than $22,000.

This represents $2,766.29 per senator for 2010.

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How about the “Senate Gift Shop Revolving Fund, Senate”?

Well, this fund has $2,939,413.53 within it. What this taxpayer money is used for is unclear, but these guys managed to spend $166,673.26 over fiscal year 2010.

This represents $1,666.73 per Senator.

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The “Senate Photographic Studio Revolving Fund, Senate” spent $65,915.24 for the year and shows an ending balance of $798,690.53

There’s $659.15 per Senator.

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The Senate Recording Studio Revolving Fund, Senate” spent $22,722.52, leaving a fund balance of $1,945,771.10.

That’s $227.22 per Senator spent in 2010.

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The “Contingent Expenses, Stationery (paper), Revolving Fund, Senate” spent $298,821.41, leaving a fund balance of $1,078,465.74.

That’s $2988.21 per Senator.

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Ok, so if you are like me, you are probably wondering… WTF?

And about now you may be asking yourself… WTF?

Why is so much money being designated for such trivial things? In a normal business setting, an employee would keep a tally of his expenses and turn in a expense record in order to be refunded that money by the corporation or be given a credit card to be paid off by the company every month. But in governments case, the money is appropriated into accounts or into an individual fund in dollar amounts much larger than are actually being spent.

Dare I say that this money could be used for other things?

But this is just part of the usual shell game, where governmental investment funds and bank accounts are removed from the general use taxpayer fund, which would go to pay or offset other taxes and needed taxpayer budgetary requirements, and put into these accounts and funds which by law must stay in those accounts or be transferred to other such legally appropriated funds. These types of funds happen throughout the entire spectrum of government, from local to district to county to state to Federal government.

But hey, and I hate to tell you this… but we haven’t even scratched the surface yet. These, believe it or not, are the small funds and accounts.

Now let’s look at one of the most outrageous expenses in the Senate (and the Congress).

The average Senator moans and groans about the low salary that he or she is paid, considering the job they are elected to. And the people generally and ignorantly agree. A Senator might mention how noble and altruistic they are for taking on the representation (LOL!) of the people of their state, and that the money that is paid to them for that venture is perhaps inconsequential compared with the honor of the service they are providing to the public (LOL!!!).

But in truth, if one wishes to know how much taxpayer money is earned by each Senator, one would have to go to the main source of that wealth. That source is the individual, tax-exempt expense accounts that each Senator (and congressman) receive.

You see, it is in the best interest of these legislators to keep their base salaries as low as possible. Why? Because those salaries are taxed. Their expense accounts are not!

Listed on this “2010 Detail of Appropriations, Outlays, and Balances” report, under “Contingent Expenses, Senator’s Official Personnel And Office Expense Account, Senate”, we get a more accurate idea of what these crooks are being compensated with in order to be a part of this organized criminal activity working for United States Inc.

The report states that $422,000,000 was appropriated for use in the personal expense accounts of these 100 Senators.

Of that $422 million, $400,590,512.37 was used (outlay) for the personal and office expenses of these Senators.

That represents an average of about $4,005,900 per Senator for “personal” and “office” expenses. Tax free. Spent on anything they want.

The account that holds this appropriated money gained about $13,600,000 over 2009 – leaving the ending account balance at $81,448,251.53.

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Wow! I want to be a Senator! Hell… I’ll do it for no salary. Just lay that expense account on me!!!

Now you are probably really thinking… WTF?

You might be asking yourself, who in the name of all that is Holy would allow these 100 people to be appropriated with almost half a billion dollars for their personal expenses?

Ever heard of the Senate Appropriations Committee? That’s right. The Senate appropriates this money to their own expense accounts! Excuse me while I laugh out load again…

Now, you are probably thinking that this money is being used for “office” expenses much more than the actual “personal” expenses of these Senators, right?

Wrong…

We already know from looking at the above funds and accounts that these separate  expense accounts weren’t used on haircuts, mail, working out, official pictures, restaurants, writing paper with the U.S. Seal embossed upon it, or spent in the gift shop! Actually, I’m sure much of it was spent on wining and dining corporate lobbyists, purchasing fancy suits, and personal grooming and care. But these expense accounts can be used for just about anything. Condos in Tahiti, vacations to Australia, second home purchases for “business purposes”, you name it. All tax exempt!

And as we can see from further examination of this appropriations report, all of the other Senatorial expenses are more than covered by the following other funds and accounts…

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“Contingent Expenses, Expenses Of Inquiries And Investigations, Senate”

$140,500,000.00 – Appropriated for 2010.

$125,780,268.65 – Outlay (spent).

$254,644.79 – Withdrawn or other transactions.

$26,704,079.70 – The ending account balance, a gain of about $2 million over 2009.

$1,257,802 – Average spent per each of 100 Senators based on (outlay divided by 100)

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“Contingent Expenses, Miscellaneous Items, Senate”

$19,909,500.00 – Appropriated for 2010.

$13,524,922.79 – Outlay (spent).

$0.00 – Withdrawn or other transactions.

$49,225,568.72 – The ending account balance, a gain of about $1.2 million over 2009.

$135,249.22 – Average spent per each of 100 Senators.

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“Compensation Of Members And Related Administrative Expenses, Senate”

$23,603,773.00 – Appropriated for 2010.

$20,708,164.76 – Outlay (spent).

$0.00 – Withdrawn or other transactions.

$4,230,079.21 – The ending account balance, a gain of about $1.1 million over 2009.

$207,081.64 – Average spent per each of 100 Senators.

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“Contingent Expenses, Secretary Of The Senate, Senate”

$1,990,000.00 – Appropriated for 2010.

$756,508.92 – Outlay (spent).

$0.00 – Withdrawn or other transactions.

$9,557,875.92 – The ending account balance.

$7,565.08 – Average spent per each of 100 Senators.

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“Contingent Expenses, Sergeant At Arms And Doorkeeper Of The Senate, Senate”

$141,601,000.00 – Appropriated for 2011-2014.

$10,000,000 – Appropriated for 2010.

$90,719,432.93 – Outlay (spent) 2010-2014.

$0.00 – Withdrawn or other transactions.

$60,881,567.07 – The ending account balance as of 2014.

$907,194.32 – Average spent per each of 100 Senators as of 2014.

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“Settlements And Awards Reserve, Contingent Expenses, Senate”

$1,000,000 – The ending account balance as of 2010.

$10,000 – Average spent per each of 100 Senators as of 2014.

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“Congressional Use Of Foreign Currency, Senate”

$4,000,000.00 – Appropriated for 2010.

$4,416,425.52 – Outlay (spent).

$0.00 – Withdrawn or other transactions.

$27,613,635.88 – The ending account balance.

$44,164 – Average spent per each of 100 Senators.

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“Senate Office Of Public Records, Revolving Fund, Senate”

$22,907.00 – Outlay (spent).

$204,092.08 – The ending fund balance as of 2010.

$229 – Average spent per each of 100 Senators as of 2014.

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“Daniel Webster Senate Page Resident Revolving Fund, Senate”

$41,173.33 – Outlay (spent).

$268,265.96 – The ending fund balance as of 2010.

$411.73 – Average spent per each of 100 Senators as of 2014.

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And last, but but certainly not least… we come to the actual salaries that are paid to have this set of 100 Senators.

“Salaries And Expenses, Office Of The Legislative Counsel Of The Senate, Senate” – We see that $7,154,000 was appropriated by the Senate itself for the Senator and staff Salaries. Of that amount, $6,394,041.59 was actually paid out (outlay) to the Senators and staff.

That left a balance in this account of $939,136.37.

That represents $63,940.41 per Senator.

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“Salaries, Officers And Employees, Senate”

$168,217,500.00 – Amount appropriated in 2010.

$150,017,546.99 – Amount paid (outlay) to officers and employees in 2010.

$27,053,492.09 – Account balance end of 2010 fiscal year, an increase of about 5.1 million over 2009.

$1,500,175 – Average amount paid for every Senator.

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“Salaries And Expenses, Office Of Senate Legal Counsel, Senate”

$1,544,000.00 – Amount appropriated in 2010.

$1,050,722.89 – Amount paid (outlay) to “legal counsel” in 2010.

$877,105.95 – Account balance end of 2010 fiscal year, an increase of about $18,000 over 2009.

$10,507.22 – Average amount paid for every Senator.

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“Payment To Widows And Heirs Of Deceased Members Of Congress, Senate”

$174,000.00 – Amount appropriated in 2010.

$174,000.00 – Amount paid to “widows and heirs”

$1740.00 – Average amount paid divided by 100 Senators.

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So what does all of this mean?

Well, what is your definition of wasteful spending?

In order for each state to have two representatives, a total for the country of 100 Federal Employees for which we call “Senators”, and with the understanding that this in no way represents all monies spent on the Senate or the money that each state pays separately for each Senator (employees, office leases, supplies, legal council, etc.), the taxpayers paid at least the following for 2010:

$8,162,563.35 per Senator (in blue above)

$815,257,003.33 spent/outlay (in purple above)

Of course, the actual amount appropriated for these things is always much higher than the actual costs by thousands or millions of dollars. Sadly, this is purposeful. And, the account and fund balances that have accumulated over the years from over-appropriation (assigning too much money) to these funds for 2010 stand at at least a total of:

$297,905,741.83 excess account and fund balances (in red above).

All of this (plus much much more that is not listed here) just to have 100 men and women pretend to represent us. Remember, these are the people who don’t even read the bills presented to them by their corporate lobbyists before they sign them!

That treason costs the taxpayers of America over $815 million dollars, and well over $1 billion if all related expenses were taken into account.

All this to support 100 men in fancy suits. Imagine what the congress costs…?

All this while Americans lose their homes, their jobs, and their lives.

What has America become?

.

–Clint Richardson (realitybloger.wordpress.com)

Monday, April 4, 2011

CAFR School Part 2: Minnesota’s State CAFR Explained


Welcome back to CAFR School!

Part 2 will be a more advanced look into the CAFR. In this case, the state CAFR.

This is an explanation of the State of Minnesota Comprehensive Annual Financial Report (CAFR), for fiscal year ending June 30, 2010. This is the basic set up of most state CAFR’s. Most terms are the same throughout government financial reporting.

The report can be viewed here: http://www.mmb.state.mn.us/doc/acct/2010.pdf

Or, you can download the Minnesota CAFR from the states own website, here: http://www.mmb.state.mn.us/cafr-10

(Most of my comments are in red.) – Please follow along in the Minnesota CAFR. This article will not make much sense and you wont figure out how to read these things for yourself if you don’t follow along!

And now, on with the show…

 ————————————————————–

(Page 9) – Government-Wide Net Assets as listed (not including many funds and “off-balance sheet” investments and monies, as we will discuss further).

Financial Highlights

The assets of the state exceeded liabilities at June 30, 2010, by $10.9 billion (presented as net assets). Of this amount, a deficit of $2.9 billion was reported as unrestricted net assets.

(Note that this is showing only what the Minnesota government outrageously considers liabilities. But these are inevitably future liabilities. This means they are deducting monies as liabilities for things that have not been spent/paid yet. It is a trick that makes it appear that the government is not wealthy. For perspective… If you have $2,000 in your bank account today, do you write in your checking register (your own personal CAFR) that you have already spent money that you haven’t even written a check for yet, for liabilities and future bills that you might not have to pay for until 6 months to 10 years later? No!!!) 

From the CAFR…

Unrestricted net assets represents the amount available to the state to meet ongoing obligations to citizens and creditors. However, many of the resources have internally imposed designations, such as state statutory language, which limit resource use. These assets are not reported as restricted net assets because the limitations are imposed internally by the state, not externally imposed by sources such as creditors or the constitution. For discussion on the variances from prior year, see the Government-wide Financial Analysis section.

§ The state’s total net assets decreased by $1.2 billion (9.9 percent) during fiscal year 2010. Net assets of governmental activities decreased by $761 million (7.5 percent), while net assets of the business-type activities showed a decrease of $439 million (22.6 percent). For discussion on the variances from prior year, see the Government-wide Financial Analysis section.

(So the State claims that it is in the red here by over 2 billion dollars on its “government-wide {on-balance sheet}” statements. Let’s see how many hidden “off-balance sheet” investment funds we can find…)

Fund Level

§ At the end of the current fiscal year, governmental funds reported a combined ending fund balance of $2.8 billion, a decrease of $774 million compared to the prior year. Included in the ending fund balance is a General Fund unassigned deficit of $1.5 billion. For discussion on the variances from prior year, see the State Funds Financial Analysis section.

(But what about the other funds besides these governmental funds? Let’s see…)

 ————————————————————–

(Page 7) – Fund and Component Unit Definitions:

The state’s three discretely presented major component units are:

§ Housing Finance Agency

§ Metropolitan Council

§ University of Minnesota

The state’s six nonmajor component units are combined into a single column for reporting in the fund financial statements. These nonmajor component units are:

§ Agricultural and Economic Development Board

§ National Sports Center Foundation

§ Office of Higher Education

§ Public Facilities Authority

§ Rural Finance Authority

§ Workers’ Compensation Assigned Risk Plan

(We will come back to these later…)

 ————————————————————–

State Fund and Component Unit Financial Statements (definition of a “fund”)

A fund is a grouping of related self-balancing accounts used to maintain control over resources that have been segregated for specific activities or objectives. The state of Minnesota, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.

Fund financial statements present financial information in a format familiar to experienced users of governmental financial statements and reports. The fund financial statements focus on individual parts of the state, reporting the state’s operations in more detail than in the government-wide statements. Fund financial statements focus on the most significant funds within the state.

(Only experienced financial experts can read these reports… or angry citizens with nothing to lose like me!)

The state’s funds are divided into three categories:

Governmental Funds

Governmental funds record most of the basic services provided by the state and account for essentially the same functions as reported in the governmental activities in the government-wide financial statements. Unlike the government-wide financial statements, the fund financial statements focus on how money flows in and out of the funds during a fiscal year and spendable resources available at the end of the fiscal year.

Governmental funds are accounted for using the modified accrual basis of accounting, which recognizes revenues when they are available and measurable. Expenditures are generally recognized in the accounting period when the fund liability is incurred, if measurable. This approach is known as the flow of current financial resources measurement focus. These statements provide a detailed short-term view of the state’s finances that assists in determining whether there are more or less resources available and whether these financial resources will be adequate to meet the current needs of the state. Governmental funds include the General, special revenue, capital project, Debt Service, and Permanent funds.

The focus of governmental funds is narrower than that of the government-wide financial statements. It is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By comparing this financial financing decisions.

The basic financial statements include a reconciliation of governmental funds to governmental activities.

These reconciliations follow the governmental funds balance sheet and the governmental funds statement of revenues, expenditures, and changes in fund balances.

The state maintained 29 individual governmental funds. However, six of these funds were either moved to the General Fund or combined into another fund and one fund was split and a portion of the activity was moved to the General Fund as a result of implementing Governmental Accounting Standards Board (GASB) Statement No. 54, “Fund Balance Reporting and Governmental Fund Type Definitions.”

(So these funds can used and merged in any way that these government crooks see fit.)

Information is presented separately in the governmental funds balance sheet and in the governmental funds statement of revenues, expenditures, and changes in fund balances for the General and Federal funds, which are reported as major funds. Information from the remaining funds is combined into a single, aggregated column. Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements included in this report.

(So they don’t report a major portion of the funds, investments, and wealth in the financial statements published to the taxpayers.)

The state adopts a biennial budget with annual appropriations for the majority of the activity reported in the General Fund. A budgetary comparison statement has been provided for the General Fund activity with appropriations included in the biennial budget to demonstrate compliance with this budget.

Proprietary Funds

When the state charges customers for the services it provides, whether to outside customers or to other agencies within the state, these services are generally reported in proprietary funds. Proprietary funds (enterprise and internal service) utilize accrual accounting which is the same method used by private sector businesses. Proprietary fund financial statements provide the same type of information as the government-wide financial statements, only in more detail.

Enterprise funds, a type of proprietary fund, are used to report activities that provide goods and services to outside (non-government) customers, including the general public. Internal service funds are an accounting device used to accumulate and allocate costs internally for goods and services provided by one program of the state to another. Because the activities reported by internal service funds predominantly benefit governmental functions rather than business-type functions, the internal service funds have been included within governmental activities in the government-wide financial statements.

(Enterprise funds are businesses run by the government, and citizens (the general public) are considered nothing more than outside customers!)

(Also, note that it tells us here that only certain funds, in this case the “internal service funds” are reported to the taxpayers; the general public. Make no mistake, government is a for-profit business and the people are just the customers… or chattel!) 

The state maintains 17 individual proprietary funds. The State Colleges and Universities and Unemployment Insurance funds, both of which are considered major funds, are presented separately in the proprietary funds statement of net assets and in the proprietary funds statement of revenues, expenses, and changes in net assets. Information from the 8 nonmajor enterprise funds and the 7 internal service funds are combined into two separate aggregated columns. Individual fund data for each of these nonmajor proprietary funds is provided in the form of combining statements presented in this report.

Fiduciary Funds

Fiduciary funds are used to report activities when the state acts as a trustee or fiduciary to hold resources for the benefit of parties outside the state. The accrual basis of accounting is used for fiduciary funds and is similar to the accounting used for proprietary funds. The government-wide statements exclude fiduciary fund activities and balances because these assets are restricted in purpose and cannot be used by the state to finance its operations. The state must assure that the assets reported in fiduciary funds are used for their intended purposes.

The state maintains 21 individual fiduciary funds. The state’s fiduciary funds are the pension trust funds, the investment trust funds (which account for the transactions, assets, liabilities, and fund equity of the external investment pools), and the Agency Fund (which accounts for the assets held for distribution by the state as an agent for other governmental units, other organizations, or individuals). Individual fund detail is included in the combining financial statements included in this report.

Component Units

Component units are legally separate organizations for which the state is financially accountable. The government-wide financial statements present information for the component units in a single column on the statement of net assets. Also, some information on the statement of changes in net assets is aggregated for component units. The component units’ statements of net assets and statement of changes in net assets provide detail for each major component unit and aggregate the detail for nonmajor component units. Individual nonmajor component unit detail can be found in the combining financial statements included in this report.

(Remember… there is no real law that states these funds cannot be used for anything at all, and they can be transferred or even closed at any time, and the money transferred to other funds or to who knows where!)

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(Page 66) – Investments

The State Board of Investment (SBI) manages the majority of the state‟s investments. All investments undertaken by SBI are governed by the standards codified in Minnesota Statutes, Chapters 11A and 356A. Minnesota Statutes, Section 11A.24, broadly restricts investments of the primary government to obligations and stocks of United States and Canadian governments, their agencies and registered corporations, other international securities, short-term obligations of specified high quality, restricted participation as a limited partner in venture capital, real estate, or resource equity investments, and restricted participation in registered mutual funds.

Funds not invested by SBI are primarily Minnesota State Colleges and Universities‟ funds…

SBI is authorized to establish, and has established, combined investment funds used by participating public retirement and non-retirement funds. Retirement and non-retirement funds may not be commingled. Each investment fund has its own characteristics, including investment objective and risk characteristics. Within statutory requirements and based on detailed analysis of each fund, SBI has established investment guidelines and benchmarks for all funds under its management. These investment guidelines and benchmarks are tailored to the particular needs of each fund and specify investment objectives, risk tolerance, asset allocation, investment management structure, and specific performance standards.

(Isn’t it reassuring to know that the SBI is acting within the laws that it sets for itself? Somehow that just makes this theft seem like a gift from God, doesn’t it? I mean, really, as long as the federal and state laws say that the government can steel trillions and trillions of dollars from the taxpayers without any real public disclosure and then hide that money in these funds, all seems right with the world…)

(Note: This is sarcasm. God wouldn’t like this very much, me thinks.)

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(Page 66) – Synthetic Guaranteed Investment Contract (SGIC): 

State Board of Investment (SBI) maintains a fully benefit-responsive SGIC for the Supplemental Investment Pool – Fixed Interest Account of the Pension Trust and Investment Trust Funds portfolio. The investment objective of the Fixed Interest Account is to protect investors in defined contribution and deferred compensation plans from loss of their original investment and to provide a competitive interest rate. On June 30, 2010, the SGIC had a portfolio of well diversified high quality investment grade fixed income securities with a fair value of $747,887,000 that is $37,692,000 in excess of the value protected by the wrap contract. The Fixed Income Account also includes a liquid investment pool and a guaranteed investment contract with fair values of $214,955,000 and $326,545,000, respectively.  (Total = $1,289,387,000)

(Note: The author (me) is not sure if this is above and beyond what the state has reported in its Pension Fund Totals, so we won’t include this in our final total of this CAFR wealth. We’ll give it an honorable mention though, for sure! Wouldn’t want to double-count…)

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(Page 80 – 82) – Note 5 – Interfund Transactions 

Primary Government

During normal operations, the state processes routine transactions between funds, including loans, expenditures, and transfers of resources for administrative and program services, debt service, and compliance with legal mandates. In the fund financial statements, these transactions are generally recorded as transfers in/transfers out and interfund receivables/payables. Transfers generally represent legally authorized transfers between funds authorized to receive revenue and funds authorized to make expenditures, and do not represent reimbursement of expenditures.

(So monies/investments are allowed to be moved around between funds. They say again here that the –law- says it’s OK to do this. So the question we should be asking our supposedly representative government is… Why don’t you “authorize” or change the legalities (not laws) so that this investment wealth can be used for the benefit of “We, the People” instead of you greedy bankers, attorneys, and politicians? I think that’s a fair question…)

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(Now we will list these funds out, and show where the real money is invested…)

(Note: All figures listed in this CAFR are “in thousands”, meaning I have added 3 zeros {,000} to all totals.)

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(Page 31)“Major Governmental Funds” descriptions:

–General Fund – the fund accounts for all financial resources except those required to be accounted for in another fund.

–Federal Fund – The fund receives and disburses federal government grants and reimbursements. The fund is administered in accordance with grant agreements between the state and federal agencies.

(page 32) – Total for the General fund as listed on the “GOVERNMENTAL FUNDS BALANCE SHEET” is $3,916,496,000 as of June 30,2010.

.

(Note: Remember the Statement of Net Assets from above? It stated that, “Included in the ending fund balance is a General Fund unassigned deficit of $1.5 billion”. And yet here we see the actual balance in the fund is over $3.9 billion!!!)

(The Statement of Net Assets also claimed that, “At the end of the current fiscal year, governmental funds reported a combining ending fund balance of $2.8 billion, a decrease of $744 million compared to the prior year”. Obviously, this is a lie, as the balance of just the General Fund is again 3.9 billion!!!)

.

(page 32) – Total for the Federal fund as listed on the “GOVERNMENTAL FUNDS BALANCE SHEET” is $1,579,194,000 as of June 30,2010.

.

Note that while “Nonmajor Funds” are listed here too, we will be covering those funds individually in a moment…

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(Page 37) – “Major Proprietary Funds” descriptions:

State Colleges and Universities Fund – The fund accounts for the activities of Minnesota State Colleges and Universities (MnSCU). MnSCU is a system of public state universities and two-year colleges and is the largest system of higher education in the state. While the primary activity of MnSCU is to provide educational services, the fund also includes scholarships, student loans, bookstores, student living activities, research, and long-term debt.

Unemployment Insurance Fund – The fund receives unemployment taxes collected from employers and pays unemployment benefits to eligible individuals.

(Page 39) – Total for the State Colleges and Universities Fund as listed on the “STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS” is $1,723,766,000 as of June 30,2010.

(Page 39) – Total for the Unemployment Insurance Fund as listed on the “STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS” is at a negative – $266,135,000 as of June 30,2010.

.

Note that while “Nonmajor Enterprise Funds” and “Internal Service Funds” are listed here too, we will be covering those funds individually in a moment…

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(Page 47)“Major Component Unit Funds” descriptions:

Housing Finance Agency – The agency provides money for loans and technical assistance for construction and rehabilitation of housing for families of low and moderate incomes.

Metropolitan Council – The council is responsible for coordinating the planning and development of the Twin Cities metropolitan area. The council also operates the metropolitan regional sewage treatment and disposal systems and the public transit system. The Metropolitan Sports Facilities Commission, a component unit of the council, operates the Hubert H. Humphrey Metrodome sports facility. 

University of Minnesota – The multi-campus university provides undergraduate and graduate degrees, advanced research opportunities, and an extension service. The university includes several nonprofit foundations that provide resources which benefit the university.

(Note that these are the funds held by these government for-profit businesses (component units) and are NOT referring to the actual buildings, equipment, or other real assets associated with them. These are stating totals for cash and liquid investments.)

(Page 48) – Total for the Housing Finance Agency Fund as listed on the “STATEMENT OF NET ASSETS” is $1,723,766,000 as of June 30,2010.

(Page 48) – Total for the Metropolitan Council Fund as listed on the “STATEMENT OF NET ASSETS” is $1,872,301,000 as of June 30,2010.

(Page 48) – Total for the University of Minnesota Fund as listed on the “STATEMENT OF NET ASSETS” is $4,785,350,000 as of June 30,2010.

.

Note that while “Nonmajor Component Unit Funds”  are listed here too, we will be covering those funds individually in a moment…

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(Page 125 – 127) – Risk Management Fund – Read this for an explanation of Self-Insurance. This is a fund built to pay for any lawsuits or torts brought against the state or its component units. This is the hoarding and investing of taxpayer dollars. So if you sue the state, you will be receiving taxpayer money or the return on this money from investments in this fund. (Total for this fund presented later as a Nonmajor Enterprise Fund.)

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 (Page 131)Budgetary Basis vs. GAAP explanation:

Actual revenues, transfers-in, expenditures, encumbrances, and transfers-out on the budgetary basis do not equal those on the GAAP basis in the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances for the General Fund. This inequality results primarily from the differences in the recognition of accruals, reimbursements, deferred revenue, intrafund transactions, and loan classifications, and from the budgetary basis of accounting for encumbrances. On the budgetary basis, encumbrances are recognized as expenditures in the year encumbered. The modified accrual basis of accounting recognizes expenditures when the goods or services are received, regardless of the year funds are encumbered. A reconciliation of the fund balances under the two basis of accounting for the General Fund is provided in the following table.

(Translation: Some government money and investments are not reported on the taxpayer budget, nor in the Statement of Net Assets we listed above on page 9. There are two different ways of financial reporting, one for the dumbed down masses who can barely balance their checkbook, and one for the elite power brokers in government and the corporate world.)

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(Page 142) – Actuarial Measures of Pension Funding Progress

The state of Minnesota is the employer for five defined benefit single employer plans that are administered by Minnesota State Retirement System (MSRS). MSRS prepares and publishes its own stand-alone comprehensive annual financial report (see Note 1 – Summary of Significant Accounting and Reporting Policies for the address).

(Note: When we look at the separate Pension Fund CAFR we see that the “employer” defined here as the State of Minnesota contributes/matches employee contributions to the pension fund system. So the state puts billions of taxpayer money (the state is supported by taxpayer money) into the pension fund for investment with no benefit for the taxpayers.)

The Elective State Officers Fund (ESOF) is excluded from the single employer plan disclosures since this plan is closed to new entrants and any former active employees have retired, terminated, or elected coverage under another plan.

Required supplementary information of funding progress is provided for the following plans:

§ Correctional Employees Retirement Fund (CERF)

§ Judicial Retirement Fund (JRF)

§ Legislative Retirement Fund LRF)

§ State Patrol Retirement Fund (SPRF)

 

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(Page 147 – 151) – Combining and Individual Fund Statements – Nonmajor Funds

Nonmajor Special Revenue, Debt Service, Permanent and Capital Projects Funds

(Page 151 – Chart) – COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES

(Note that these are reported “in thousands”, meaning we must add three zero’s {,ooo} to the end of each figure. These are the supposed totals for all the funds included in these categories.)

SPECIAL REVENUE       

-> $1,975,916,000

DEBT SERVICE

-> $764,447,000

PERMANENT SCHOOL

-> $694,452,000

CAPITAL PROJECTS

-> $205,002,000

TOTAL

-> $3,639,817,000

.

(Note that {in thousands} the “Net Change in Fund Balances” column (fourth row from bottom of graph) shows profits/increases of  – $122,913,000 – $22,378,000 – $64,229,000 – and $108,739,000 – with the total profit for these funds listed at $318,259,000. This is how much money was added to these funds in fiscal year 2010 over fiscal year 2009)

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(Page 152 – 153)gives a description of each “Special Revenue Fund”

Note the difference between the totals of the chart on (page 154 – 157)NONMAJOR SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET”…

and the chart on (page 158 – 161)COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES”

On the “COMBINING BALANCE SHEET” we can see that total fund balances are actually in the amount of $2,719,861,000… a difference of over $700,000,000 as compared to what is reported on the “COMBINING STATEMENT” chart.

(Always go with the higher figure, as again they are attaching future liabilities to the money they have today.)

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(Page 169)gives a description of each “Capital Project Fund”

“COMBINING BALANCE SHEET” totals – $253,749,000

“COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES” totals – $205,002,000

So we can add almost $50 million to the total listed, taking the highest figure without “future obligations”. 

(This is the actual holdings at the time of this report.)

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(Page 169)gives a description of each “Nonmajor Enterprise Fund”

(Note that this is a new set of funds, not listed above, and including…)

Behavioral Services Fund

Enterprise Activities Fund

Giants Ridge Fund

Minnesota Correctional Industries Fund

911 Services Fund

Public Employees Insurance Fund

State Lottery Fund

State Operated Community Services Fund

 .

(Page 174 – 175) The “COMBINING STATEMENT OF NET ASSETS” {in thousands} chart shows $45,315,000 in these funds under the Totals column. So we can add that to our hidden wealth totals…

(Page 181)gives a description of each Nonmajor Internal Service Fund, which includes the “Risk Management Fund” that we covered above as a self-insurance fund.

(Page 182 – 183) The “COMBINING STATEMENT OF NET ASSETS” {in thousands} chart shows $320,436,000 in total fund balances, which in this case is the same as the COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS chart.

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PENSION TRUST FUNDS!!! – (Remember, Pension Funds are where the government diverts billions (trillions nationally) of taxpayer money, not just employee money.)

(Page 188 – 189) Minnesota State Retirement System includes… 

–Correctional Employees Retirement Fund

–Elective State Officers Fund

–Hennepin County Supplemental Retirement Fund

–Judicial Retirement Fund

–Legislative Retirement Fund

–Postretirement Health Care Benefits Fund

–State Deferred Compensation Fund

–State Employees Retirement Fund

–State Patrol Retirement Fund 

–Unclassified Employees Retirement Fund 

 .

The Public Employees Retirement Association includes…

–Defined Contribution Fund 

–Minneapolis Employees Retirement Fund 

–Police and Fire Fund 

–Public Employees Correctional Fund

–Public Employees Retirement Fund

–Volunteer Firefighter Retirement Fund

 .

The Teachers Retirement Association includes…

–Teachers Retirement Fund

.

The State Colleges and Universities includes…

–Colleges and Universities Retirement Fund

 .

(Again, these funds where not included above.)

(Page 190 – 193) COMBINING STATEMENT OF NET ASSETS shows totals for these pension funds listed at $45,746,335,000.

(Page 197) This represents an increase (profit) in the fund balances over 2009 of at least $4,336,688,000.

(Yes, yes… these are the retirement funds and they are designated for the employees. We can’t touch those, right? Again, this fund represents billions and billions of dollars of taxpayer money, and the investment return on these fund’s collective investments. This total shown represents the money and investments in the fund AFTER all liabilities to the employees are paid, and after future liabilities are considered. So you tell me whose money this really is… and before you answer that, consider the fact that at any time the President of the United States can create an Executive Order that states that all collective fund balances in the government pension funds are now the property of the Federal Government. If we don’t reclaim this through strict regulation and anti-federal shields in the name of the people and soon, it will be gone with the stroke of a pen. And all of these state employees who are so defensive of their pension funds now will have nothing left to defend. It will all be gone!)

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(Page 199)INVESTMENT TRUST FUNDS”

Supplemental Retirement Fund – The fund provides an investment vehicle for the assets of various public retirement plans and funds.

Investment Trust Fund – The fund provides an investment vehicle for external funds authorized to be invested by the state.

(Page 201) “STATEMENT OF CHANGES IN PLAN NET ASSETS” shows totals for these funds at $482,714,000. 

This is an increase of $30,835,000 over fiscal year 2009, as listed under “Net Increase”.

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(Page 203)Agency Funds” description

Agency Fund – This fund accounts for resources held in a custodial capacity for other governmental units, private organizations, or individuals.

Totals listed at $124,220,000

————————————————————–

(Page 205)“Nonmajor Component Unit Funds” descriptions…

(Note that this is not the value of the buildings, equipment, and other hard assets involved with these component units {state-run businesses}, these are the funds that each unit has in investment holdings in (liquid) assets and cash.)

Agricultural and Economic Development Board 

National Sports Center Foundation 

Office of Higher Education

Public Facilities Authority

Rural Finance Authority

Workers’ Compensation Assigned Risk Plan

.

(Page 206 – 207) The “COMBINING STATEMENT OF NET ASSETS” states that the totals for these funds are at $1,488,337,000

(Page 209) “Change in Net Assets” show and increase to these funds of $97,359,000 over fiscal year 2009.

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Last but not least, we have…

(Page 83) – Note 6 – Capital Assets:

Primary Government

The following table shows capital asset activity for the primary government:

(Page 83) – See Chart here entitled“Primary Government Capital Asset Activity Government-wide Governmental Activities”

This is the value stated after depriciation for the following “capital assets”, which represents the physical equity in the following:

Land – Buildings, Structures, Improvements – Construction in Progress – Development in Progress – Infrastructure – Easements – Art and Historical Treasures

Total value listed here for these Capital Assets are $11,982,234,000

(Note: that these are not necessarily salable or liquidate-able assets, and so we will not include them in our total below, which will only represent fund, investment, and cash on hand as of June 30, 2010.)

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END OF REPORT

————————————————————–

So let’s total up what we have found in the Minnesota CAFR, and compare that total to what the state is reporting to its taxpaying citizens on the taxpayer budget report…

General fund                                                    $3,916,496,000 

Federal fund                                                     $1,579,194,000 

State Colleges and Universities Fund     $1,723,766,000

Unemployment Insurance Fund             (- $266,135,000)

Housing Finance Agency Fund                 $1,723,766,000 

Metropolitan Council Fund                       $1,872,301,000 

University of Minnesota Fund                 $4,785,350,000

Special Revenue Funds                               $2,719,861,000

Capital Projects Funds                                   $253,749,000

Enterprise Funds                                             $320,436,000

Pension Trust Funds                                 $45,746,335,000

Investment Trust Funds                                 $482,714,000

Agency Funds                                                     $124,220,000

Nonmajor Component Unit Funds        $1,488,337,000

———————————————————————————

TOTAL FUND BALANCES…                   $66,470,390,000

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.

Again, this is a look at the fund balances for the state, and should not be construed as a total look at what this CAFR has to offer in the form of hidden wealth and investments for Minnesota. It would take a guru of an accountant to figure all of this out…

But I think that we have proven without a doubt that the Minnesota state government is guilty of misrepresentation of its wealth to the taxpaying public when it releases its tax-payer budget every year, and when it states in its “government-wide statement of Net Assets” that it only has $10,865,096,000 in “Total Net Assets” including Capital Assets (chart on page 10).

This financial statement (CAFR) structure will look very similar on most state CAFR’s. The order may different, but the terms and fund group types will be virtually identical. You may have to look for this information, but a bit of logic and reason should get you through. The most difficult thing to succeed at is to push aside all of the redundant and pointless information and graphs in lieu of the real hidden gold.

For more information on the corporate government CAFR system, please visit these sites:

http://thecorporationnation.com/

http://cafr1.com/

http://cafrman.com/

http://taxretirement.com/

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Happy treasure hunting to you and yours…

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–Clint Richardson (realitybloger.wordpress.com)

Wednesday, March 9th, 2011

CAFR School – A Lesson In Financial Accounting


Welcome to CAFR school!

The object of this essay is to teach you to be an informed citizen and taxpayer. We will examine just how to go through your local city, municipal, county, school district, and state government’s Comprehensive Annual Financial Report (CAFR) and come out the other side with millions if not billions of wealth and investments hidden by your government.

I was inspired to write this due to the several requests for myself to help others research and pinpoint their own government’s corruption and hidden wealth.

So here, now, I present to you the CAFR for the city of Aurora, Colorado, a municipal corporation…

First, understand that this report is basically the standard set-up and protocol for the structure of the Annual Reporting system. Therefore, you may apply this same examination to most CAFR’s across the nation and get the same results.

Second, understand that this is just the city (municipal corporation), and does not reflect the county, state, or all of the other incorporated municipal cities and unincorporated towns. it would be necessary to add all of these up to get a total look at the wealth of any county or state.

Also, the school districts and other districts (water, sewer, etc.) will each have a separate CAFR, as they are also not part of the city government (as listed on the CAFR).

That said, I am going to refer to pages on the CAFR report (no particular order, sorry). Remember, we are looking for wealth that could be used for more important things as well as wealth that is not being used for anything at all except capital gains.

You should follow along with me using the Aurora City Comprehensive Annual Financial Report as your reference, which can be downloaded here: https://www.auroragov.org/AuroraGov/Departments/Finance/Annual_Financial_Report/index.htm?ssSourceNodeId=934&ssSourceSiteId=621

Note posted 09/28/2012: Apparently, the City of Aurora doesn’t like the fact that so many people have been downloading their 2009 CAFR, and so it consolidated past years CAFR’s into one download, which after some research I found here: https://www.auroragov.org/CityHall/CityFinancesAndBudget/FinancialManagement/index.htm

And if you like, you can follow along with your local or county CAFR as well, making the adjustments for size and page numbers as you go. Your CAFR should be virtually identical in its structure to this one. If it is not, the key points we are about to cover will be in there somewhere.

(CLUE: Use the “search” function in your (.pdf) or document reader.)

To search for your own local, county, school district, or state CAFR, there are two options…

1) Type your city/county/state/district into your search engine, followed by the words “Comprehensive Annual Financial Report”, followed by the year. (Note that some governments take their sweet time getting these reports out, and so only the previous year may be available for download.) Also, be sure to spell the CAFR phrase out in full.

EXAMPLE:    (Aurora City Comprehensive Annual Financial Report 2009)

2) Go to your city/county/state/district (.gov) website and look for the word “Publications” or the phrase “Financial Statements” or “Annual Reports“. If these aren’t easily found (which not surprisingly they aren’t), most .gov sights have a search option. Be sure and get the CAFR if possible, as the “citizens guide” and the other budget reports are not the full report. Sometimes they are called “Annual Reports” or “Financial Statements” as well, but the majority are called the “CAFR”.

Ok, on to the Aurora City CAFR…


Page 148-150“Golf Fund”

It is very common to hold wealth in these types of funds. Golf courses are owned by local and sometimes other state governments. These are often referred to as business activities in the CAFR statement of liabilities and assets, but are called “Enterprise Operations” in the government circles.

Page 148 – (INCREASE (DECREASE)IN NET ASSETS) – Note that the CAFR reports a loss in assets for this golf fund of $219,398 for 2009. But remember that the CAFR is an accumulative look at assets, and so the fund has more money in it than it did in 2006. In 2007, it earned $389,119.

Page 148 – (NON-OPERATING EXPENSES) – INVESTMENT INCOME, MISCELLANEOUS REVENUE, ETC. – the money in this fund isn’t just sitting there, it is being invested. Thus, “Investment Income” is listed. “Non-Operating Expenses” refer to items happening outside of the care and budgetary obligations of the golf courses. This investment game is why the fund is showing a negative year of $219,398. These types of (+/-) listing of revenue and assets are very deceiving, as we cannot see in this CAFR how the money is invested, what is transferred out of this fund and into other funds, or the day to day investment activity.

Make no mistake, golf courses are businesses that are making profits for the government and for (municipal) corporations.


Net Assets in the “Golf Fund” as of December 31, 2009 $24,927,256


Page 144 – 147“Waste Water Fund”

Once again, the management of water and sewage type of “business activities” are not only a profitable business (and a government monopoly for that matter, and often sold to private corporations to manage under government control), but also have funds created to build a power base of investment wealth.

Page 144Statement of Net Assets for Waste Water Fund – NET ASSETS – DECEMBER 2009 – show that this fund alone has $430,862,335 in wealth, that could be used for other taxpayer budgetary obligations. But as we can see, the INVESTMENT INCOME for this fund is quite nice, at $4,363,954 for fiscal year 2009. About 15 million for the last three years.

This fund grew by $20.89 million (INCREASE IN NET ASSETS) in 2009, even after (TRANSFERS OUT) of over $10 million.

Also, this fund has grown steadily for the last 5 years, from $305 million in 2005, to over $430 million in 2009. Again, the CAFR is the cumulative look at government wealth and investment income. The taxpayer budget released to the people is not.


Net Assets in the “Waste Water Fund” as of December 31, 2009 $430,862,335


Page 137 – 143“Water Fund”

This is the drinking water fund. Similarly with the other funds, this is money that could be used for other purposes. In this case, we start to see the vast wealth the city is hiding within these funds…

Page 137Changes in Net Assets for Water Fund – NET ASSETS – DECEMBER 2009 – show total monies for this fund at $944,082,042 – That’s almost $1 billion dollars for just this fund alone!!!

Again, this fund is investing the money, and shows investment income (return on investments) of over $11 million.

Net assets increased over 2008 totals by $62,555,533 (INCREASE IN NET ASSETS = Profit).

And since December 31, 2005, this fund has grown by over $322 million dollars!!!

Page 140 – Note that the city lists here its top water consumers (TEN LARGEST TREATED WATER CUSTOMERS). If you think about it carefully, you will see how smooth of a business these municipal corporations have carved out for themselves. The “city” is the city’s largest water consumer. But it doesn’t pay for its own water consumption… the taxpayers do! It bills itself, and deducts the bill from taxpayer funds!!! Brilliant.

Come on, you gotta give these guys points for creativity, right?


Net Assets in the “Water Fund” as of December 31, 2009 $944,082,042


Page 135 – 136 – Exhibit C3 (General, TABOR, and Policy Reserve Funds)

Take a quick look at this graph. It gives you an idea of how much the city receives compared to what it has written as the budgetary requirement for what these particular funds service. This shows net assets for the General Fund, the TABOR Reserve Fund, and Policy Reserve Funds

Page 136 FUNDS AVAILABLE DECEMBER 31 (2009) – Look at how the “budget” section is lower than the “actual” section for each year by millions of dollars. In other words, they had money left over, which of course they either reinvest or use elsewhere, or transfer out of the fund (intra-fund transfers notated as due from other funds).

Page 136FUND BALANCE (for these three funds) – At the end of fiscal year 2009 the fund balance was $52,245,924. Again, money available to be spent on taxpayers.

Page 135EXCESS OF REVENUES OVER EXPENDITURES – This states that monies collected (revenues) from the taxpayers in the form of tax, fees, fines, etc… were $24,319,789 more than what was spent. In other words, taxpayers spent way to much money for the services that their government provided, and that money is not refunded back to the taxpayers. Instead, it is placed into these funds we are going over.


Net Assets in the “General Fund”, the “TABOR Reserve Fund”, and the “Policy Reserve Fund” as of December 31, 2009 $52,245,924


Page 123DEMOGRAPHICS AND ECONOMICS

Just throwing this in as a comparative essay, comparing government wealth to the wealth and income of the people of the city.

2009 population of city – 314,326

2009 combined income of city’s population – $4,331,333,727

2009 unemployment rate – 7.5%

We will come back to these figures at the end of this essay…


Page 96“Enterprise Funds”

Just a note that the golf and water funds are called “Enterprise Funds”.

Legal Dictionary
Main Entry: en·ter·prise
Pronunciation: 'en-t&r-"prIz
Function: noun : an economic organization or activity; especially : a business organization
5. a company organized for commercial purposes; business firm.
World English Dictionary:
enterprise (ˈɛntəˌpraɪz) [Click for IPA pronunciation guide]
n
1. a project or undertaking, esp one that requires boldness or effort
2. participation in such projects
3. readiness to embark on new ventures; boldness and energy
4. a. initiative in business
b. ( as modifier ): the enterprise culture
5. a business unit; a company or firm

http://dictionary.reference.com/browse/enterprise


Page 74 – 76PENSION TRUST FUNDS

The city actually has two pension funds.

General Employees Retirement Fund (GERP) – is listed at $280,221,050 in investment assets.

Elected Official’s and Executive Personal Defined Benifit Plan Fund is listed at $3,675,975 in investment assets.

Total monies stashed away in city pension funds – $283,897,025.

Remember, this is extra money in the fund, after all benefits were paid for 2009. This is the investment wealth. Employees have no equity in this money, as it is a private corporate government fund. If Aurora declares bankruptcy or a host of other ploys, this money will be liquidated, and none of that will be returned to the employees or the taxpayers who have been “contributing” it over the years.

A contribution is the act of giving your money away.

Employee contributions totaled – $4,795,873

City of Aurora (taxpayer money to “match”) contributions – $4,790,713

Pension funds are the scam of all scams, and the government employees have been duped into defending them with their souls, not comprehending that it isn’t even their money anymore, once they contribute it to the fund!!!

Taxpayer money is being redirected into these funds at an alarming rate. Some pension funds are called “non-contributory” funds, which means that only the government (taxpayer money) is funding the pension. Employees do not contribute to these funds.


Net Assets in the “Pension Trust Funds” as of December 31, 2009 $283,897,025



Page 71 -73 Internal Service Funds

More funds…

Page 72Statement of changes in net assets – We see the total for the following (3) Internal Service Funds listed as:

Fleet Management Fund
Print Shop Fund
Risk Management Fund

Totals for these funds are stated as $8,112,000

Again, this could be used for other things. The shell game continues…


Net Assets in the “Internal Service Funds” as of December 31, 2009 $8,112,000


Page 60 – 70Non-Major Governmental Funds

These are funds which are used to store revenue before it is spent, and to house that extra revenue that is not spent, and to transfer to other funds and liabilities (usually profitable ones).

They include Special Revenue Funds, Debt Service Funds, and Capital Projects Funds. Read the descriptions of each to get an idea of what they are used for starting on page 60-61.

(Fund balances can be found listed on page 66 – 70, in the chart called COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES” for Nonmajor Governmental Funds.)


SPECIAL REVENUE FUNDS – account for revenues from specific sources that are required legally or by management decision to be used for particular activities.

Gifts and Grants Fund

-> $4,985,909

Development Review Fund

-> $2,082,719

Abatement Fund

-> $1,244,185

Community Development Fund

-> $2,669,399

Enhanced E-911 Fund

-> $5 ,414,600

Conservation Trust Fund

-> $8,585,532

Emergency Contingency Fund

-> $241,172

Parks Development Fund

-> $4,202,949

Arapahoe County Open Space Fund

-> $8,841,223

Recreation Services Fund

-> $171,374

Cultural Services Fund

-> $971,000

Designated Revenues Fund

-> $19,983,620

Policy Reserve Fund

-> $21,332,318

TABOR Reserve Fund

-> $8,778,851

Cherry Creek Fence General Improvement District (GID)

-> $18,095

Aurora Urban Renewal Authority (AURA) General Fund –

-> $71,673


DEBT SERVICE FUNDS – account for the accumulation of resources to pay principal, interest and agency fees on governmental long-term debt.

City Debt Service Fund

-> $1,628,854

Special Improvement District (SID) Debt Service Fund

-> $2 96,371

Surplus and Deficiency Fund

-> $596,081

Aurora Urban Renewal Authority (AURA) Debt Service Fund

-> $1,357,231

Aurora Capital Leasing Corporation (ACLC) Debt Service Fund

-> $17,434,872


CAPITAL PROJECTS FUNDS – Capital Projects Funds are generally used on construction projects, restoration of infrastructure and buildings, etc… But it is important to understand that these funds are being invested. They can sit around for years before the actual project they are “funding” even gets started. Again, they are places to store revenue (taxpayer collections) while making a profit by investing that money. Evil.

City Capital Projects Fund

-> $23,525,670

Bond Proceeds Fund

-> $0.00

Building Repair Fund

-> $1,562,600

Aurora Capital Leasing Corporation (ACLC) Capital Projects Fund

-> $0.00


Page 70 – Fund Balances December 31, 2009 – After listing all of these funds out in detail under the NONMAJOR GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED DECEMBER 31, 2009, and listed as “Total Nonmajor Governmental”, we see that some are in the positive and some in the negative. But we can see that these funds added together total $135,996,298.


Page 70 – NET CHANGE IN FUND BALANCES – Here we can see that in total, as a collective fund balance, these funds grew by $9,756,515 in 2009, which was considered a bad year for investments and government budgets.


***Note: It is likely that much of these “non-major governmental funds” are actually designated for specific budgetary items, and the government will tell you this to keep you from claiming that they are hoarding the money in these funds. But in reality, there is no law or contract written for most of these funds that require that money to be used for the purposes they claim. Thus, they can close the fund at any time, not use it for its intended purpose, and/or transfer that money to other funds for their own investment fun! This will be a big debate by the government officials that you approach about using these funds for the benefit of the taxpayers. Do not let them get away with this. Ask them for the specific law or contract that proves their claim. Threaten them with treason and lying under oath, and be sure and film your encounter so that you have a record of their lies. Make them prove everything they say by backing it up with code or law. Good times…

You can read about restricted net assets on page 36.


Page 59General Fund Balance – This just states that the general fund has an extra $22,143,755, which was not used in the taxpayer’s interest to meet budgetary requirements for this year. This is a surplus in tax dollars collected.


Page 52RISK MANAGEMENT/CONTINGENT LIABILITIES – Just an explanation of how the money placed into funds is invested with the intent to pay for future obligations, in this case lawsuits. Read this entire paragraph a couple of times for your enjoyment and comprehension…

Also, know that many activities funded by government, including pensions, are actually paid for by the returns from investments by these funds! They even have a fund to pay for “self-insurance” of up to $1,000,000. This means that the city covers their employees with the investment return on some fund somewhere that makes at least a $1,000,000 in profit. And I suppose they transfer money from other funds when there is a bad year. I don’t believe Aurora is one of those cities, because it has a law which limits lawsuit amounts to $150,000 per person and $600,000 per incident. So private insurance from a carrier is better for the city, according to its managers. But that means that the people of this municipality are out of luck if their claim/lawsuit against the “city” is for more than this law allows for. Tyranny at it’s finest, with state laws that prevent a citizen from collecting proper damages from the private government corporation that caused their loss.

Simply stated… This and most other cities, counties, and states have funds for which they stash away and invest taxpayer money called “Risk Management Funds”. This is the money that is used to pay for lawsuits and other damages that are caused to the citizens (taxpayers) within that particular corporate government.

So the taxpayers are suing themselves when they sue the city, and can only acquire the money that is hiding in this fund for the protection of the city.

Lawsuits are paid for by the investment return on this fund! Brilliant!!!


Page 47PENSION PLANS AND OTHER POST-EMPLOYMENT BENEFITS

Here is the list of actual pension funds offered by the municipality (city). They are bulked into the funds discussed earlier.

The city of Aurora provides the following plans:

-General Employees’ Retirement Plan (GERP)
-Elected Officials’ and Executive Personnel Defined Benefit Plan (EOEP)
-Fire Pension Plan (Old Hire-Fire)
-Police Pension Plan (Old Hire-Police)
-Other Postemployment Benefits (OPEB)
-Fire Department Money Purchase Pension Plan (New Hire-Fire)
-Police Department Money Purchase Pension Plan (New Hire-Police)
-Executive Retirement Plan – Money Purchase Pension Plan (ERP)

Imagine, this is happening all over the country, in every state, county, municipality, district, etc… Each one being funded with taxpayer dollars at least equal to employee dollars, and sometimes up to 7000% more than what the employees are putting in themselves! And some are solely funded by taxpayer money!!!

Walter Burien has estimated that Pension Funds across the country account for $26 trillion dollars.

And none of that belongs to the people or to the employees of the government! A simple Presidential Directive, Executive Order, or the false-flag bankruptcy of a state government, and these funds are gone forever…


Page 37Restricted for Arbitrage – Very Important!!!!

Federal tax law provides that, with the exception of certain “temporary periods”, governments may not invest the proceeds of tax-exempt debt in a higher yielding taxable security. Arbitrage occurs if a government earns more than the yield allowed by law. Excess arbitrage earnings must be rebated to the Federal government. All outstanding bonds and COPs are reviewed annually for potential arbitrage rebate liability and corresponding reserves are established as necessary.

Arbitrage amounts anticipated to be paid with funds held in the City Debt Service Fund – $33,569.

This simply means that when the state, county, city, pension fund, and districts invest their money into certain investments, and then make what you might call an accidental or illegal profit above and beyond what is expected due to a glitch in the market system, that money must be given to the Federal government! This is cheating by the way, taking advantage of a mistake to make a profit – for instance buying and then immediately selling a stock or a currency for a profit that is an error, and will eventually just hurt the rest of the market, which must make up for that mistake somehow. Hard to explain, but the point is that governments across the country all do this, collectively making a fortune for the Federal Government, who does not complain about it much… instead forcing by law that this arbitrage profit be handed over to them! Crime of the century if you ask me…

This is an called an arbitrage profit.

Now imagine every government in the country, more than 185,000, acquiring wealth of this nature and sending it to the Fed…

Here is a good basic definition of arbitrage: http://economics.about.com/cs/finance/a/arbitrage.htm


Page 29 – 30CASH AND INVESTMENTS

Just read this section, as it is just telling us that the city has the “right” by state law (CODE) to invest, and it lists well over $1 billion in investments, much of which we have already covered.

Of course, all investments are not covered. The city makes loans and writes bonds for projects both within and outside of the city. This is listed as a liability, but will of course be an asset when the loan or bond is paid off.

Often the city will put cash in the bank, float a bond off of that cash, invest the money that is still in the bank being used as collateral for the bond, and then charge taxpayers for the debt service of the bond, while making investment profit on the cash that is still in the bank that the bond was backed by.

That’s the shell game…


Page 19 COMPONENT UNITS, Statement of net assets

The city is a business…

These are the side businesses or “joint-ventures” that the city is involved in.


Add an extra $76,611,082 in assets, over $33,000,000 of which is cash and liquid investments (stocks, etc…).


Page MD&A1MANAGEMENT DISCUSSION AND ANALYSIS…

“FINANCIAL HIGHLIGHTS”

And finally, last and actually least, we have the “Management’s Discussion and Analysis”.

This is a very basic statement, which does not include the majority of the wealth that we have uncovered in this report. Here is the Financial Highlights section on page MD&A1(Managers Discussion & Analysis). This is the CAFR for dummies, and is very deceiving because it includes buildings, vehicles, etc… While these are assets, they are not necessarily able to be “liquidated” like the stocks and other investments in the funds. It does include some of the assets we have talked about, but definitely not all by a long shot, since some funds are not required to be reported in this section, like “non-governmental funds”.

But even so, we can see that the city of Aurora is a very wealthy city. The CAFR States…

“The city’s assets exceeded liabilities at the end of 2009 by $4.3 billion (net assets). Of this amount, $362.4 million, or 8.4% was UNRESTRICTED and may be used to meet the city’s ongoing obligations.”

***Note: This is of course seriously and criminally misleading… as we have uncovered over $900 million in just the “Water Fund”, remember?

“Citywide net assets increased $89.4 million in 2009.”

This is why you must not stop at this section of the report, which of course is always the first section of the CAFR. It is the first false signpost you must see past to get an accurate accounting of your governments wealth and investment totals as reflected in the fund balances shown later in the report.

At best, this first section can be used to see capital assets (land, buildings, vehicles, etc…) that are owned by the city, and to see the taxes collected and spent. This is part of what is reported on the “Taxpayer Budget” every year to the people, which invariably always shows a “deficit”.

Obviously, this just isn’t the case. The CAFR never lies…

Well, sometimes!


So let’s add up just what we have uncovered here in these funds and investments:

Golf Fund =                                     $24,927,256

Waste Water Fund =                $430,862,335

Water Fund =                             $944,082,042

General, TABOR Reserve,
and Policy Reserve Funds =     $52,245,924

Pension Trust Funds =            $283,897,025

Internal Service Funds =             $8,112,000

Non-Governmental Funds =  $135,996,298 (This includes the TABOR and Policy Reserve Funds, so – $8,778,851 and $21,332,318 totaling $30,111,169.)
+                                                  So… — $30,111,169   
—————————————————————
TOTAL FUND BALANCES = $1,850,011,711


So, total fund balances which can be used or liquidated to be used for the taxpayer’s benefit = $1.85 billion


In retrospect, the population of this town as stated on the CAFR above is 314,326 people.

$1.85 billion equates to the government holding about $5,885 in cash for each person in the “city”, not including the other assets included in the $4.3 billion stated in the total assets statement (buildings, land, vehicles, etc…).

But these folks are also being taxed by the county, the school district, and the state government. So there is a whole other can of worms…

Also, the CAFR is a cumulative accounting of government wealth, not just one year. So as a comparison, just these fund balances (not including capital assets as listed in the “Financial Analysis”) also represent about 40% of the total income earned in 2009 by the entire population of the city!


——————————End Of Report——————————-


Now, I am no financial expert, so there is much more to these reports than I can tell you here – secrets way too deep for my newly trained eye. And if you go far enough back, you will find “discrepancies” and wonder just what happened to all that money! There are certainly other wealth bases and investments that are eluding me as well. But this is a classic example of most municipalities and counties across the nation.

And remember this is just the city, not the county or districts within, which each have their own separate funds, investments, and report on a separate CAFR. And the state has it’s own government and CAFR as well, for which you pay your taxes to.

I hope that this helps you in your efforts to understand and read the legalese that is the Comprehensive Annual Financial Report. May this be your guide.

And remember…

None are more hopelessly enslaved than those who falsely believe they are free.” –Johann Wolfgang von Goethe

Keep up the good fight!

.

For more information on CAFR’s, please go to these websites:

TheCorporationNation.com

—  CAFR1.com

CafrMan.com (R.I.P. Our hero, Gerald R. Klatt)

.

.

-Clint Richardson (realitybloger.wordpress.com)

Thursday, March 3rd, 2011

Wisconsin’s Real Financial Situation Explained


The following is a list of totals reported in the Wisconsin State Comprehensive Annual Financial Report (CAFR), fiscal year ending June 30, 2010.

The individual funds and investments that make up these totals are listed in detail below these fund “totals”.

All of this is sourced from the state’s 2010 CAFR, which can be downloaded at the state governments website, here: http://www.doa.state.wi.us/subcategory.asp?linksubcatid=374&locid=3

It may also be viewed online here: http://www.docstoc.com/docs/23131666/Wisconsin-Comprehensive-Annual-Financial-Report

Page numbers are listed, so you can follow along in the CAFR for verification, and my comments are in red.

And now, the answer to the question… Is the State of Wisconsin bankrupt?

First, let’s have a look at what Wisconsin has in its investment funds, which is not being reported to the taxpayers of the state or of America…

(See below for explanation)

————————————————————————————————————–

TOTAL PRIMARY GOVERNMENT “VARIOUS FUNDS”

-> $4,403,000,000

TOTAL UNIVERSITY OF WISCONSIN SYSTEM (UW) FUND

-> $365,800,000

TOTAL WISCONSIN HOUSING AND ECONOMIC DEVELOPMENT AUTHORITY FUND

-> $1,023,000,000

TOTAL UNIVERSITY OF WISCONSIN AND CLINICCS AUTHORITY FUND

-> $127,400,000

TOTAL STATE FAIR PARK EXPOSITION CENTER INC FUND

-> $200,000

TOTAL WISCONSIN HEALTH CARE LIABILITY INSURANCE PLAN (WHCLIP) FUND

-> $72,000,000

TOTAL UNIVERSITY OF WISCONSIN FOUNDATION FUND

-> $2,006,000,000

TOTAL STATE INVESTMENT FUND (SIF)

-> $6,603,000,000

TOTAL IN THE RISK MANAGEMENT FUND

-> $94,847,000

TOTAL NONMAJOR GOVERNMENTAL FUNDS

-> $664,459,000

TOTAL NONMAJOR ENTERPRISE FUNDS listed as “All Nonmajor Funds”

-> $1,446,072,000

TOTAL INTERNAL SERVICE FUNDS listed as “totals”

-> $350,107,000

TOTAL PENSION AND OTHER EMPLOYEE BENEFIT TRUST FUNDS listed as “Totals”

-> $66,937,157,000

TOTAL INVESTMENT TRUST FUNDS listed as “Totals”

–> $2,606,398,000

TOTAL PRIVATE-PURPOSE TRUST FUNDS listed as “Totals”

–> $2,265,681,000

TOTAL AGENCY FUNDS listed as “Totals”

-> $334,837,000
——————————

TOTAL FUND INVESTMENTS (From above list)

-> $89,299,958,000

————————————————————————————————————–

(LISTED IN TABLE 3 CHANGES IN NET ASSETS)

TOTAL NET ASSETS

-> $11,693,400,000

TOTAL CAPITAL ASSETS (WITHOUT DEDUCTIONS FOR LONG-TERM LIABILITIES)

-> $22,487,900,000
——————————

TOTAL NET ASSETS

-> $34,181,300,000

————————————————————————————————————–

TOTAL ASSETS (CAPITAL AND INVESTMENTS) FOUND IN 2010 STATE CAFR

-> $123,481,258,000

————————————————————————————————————–

Note: This should not be construed to be a representation of all hidden wealth and investments within the state government of Wisconsin, but rather the ones that jump off the page to the semi-trained eye. Revenue bonds and other investment assets and future profits are still beyond my scope of translation.

But to put this state government wealth into perspective… The population of the state of Wisconsin as of 2010 was 5,686,986 people. The above figure of over $123 Billion represents investments and capital net assets, which total $21,712 per person in the state of Wisconsin. Remember… many of those people are kids with no income!

This summary compilation of the wealth of the state of Wisconsin is for one purpose: to show exactly what the Wisconsin state government is holding in cash and liquid investments, and not hiding this wealth by stating what their “future obligations” are. So the above figure is what the state had in actual assets, cash, and investments as of June 30, 2010, after liabilities were already paid, and not what it will spend later (which is just their way to hide this current wealth as reported by attaching its value to future financial obligations). Compare this with your exact personal bank account balance today, not what it will be next week or in 5 years (or once future bills are paid with future checks). This is the balance today, and it includes your savings and investments at their value today, not in the future.

While the State government will tell us that these funds are designated or “restricted” to the funds that house them, there is no law that says this is the case, and they are transferred between each fund (intra-fund) all of the time. Do not let these crooks tell you that these funds and investments are restricted without proof. SHOW US THE LAW!

This is rightly taxpayer money, and it could and should be used for taxpayer purposes. Instead, it is being withheld from the public (taxpayers), invested in these funds, and used for “business activities” within this for-profit corporation known as the “State of Wisconsin”. There is no reason that any government (meaning the people; the public) should be in debt, at all, with this kind of hidden wealth.

The state of Wisconsin is obviously far from bankrupt!

————————————————————————————————————–

***Note: This is just the state corporation (government), and does not include the counties, municipal corporations (cities), towns, school districts, and other corporate governments within the state of Wisconsin. Each of these “governments” has their own investments, funds, and assets, which are listed separately on each of their CAFR’s. The assets of all of these individual government corporations within the state do not appear on the state CAFR.

There are 72 counties in the State of Wisconsin.

There are 190 cities (municipal corporations) in the State of Wisconsin (as of 2006).

There are 1,260 towns in the State of Wisconsin (some the same as cities).

There are 370 school districts in the State of Wisconsin (approx).

All of these are different government corporations. All of these have separate CAFR’s.

Malls, movie theaters, golf courses, most other commercial real estate entities, electric and gas companies, water and sewage companies, universities and colleges, parks and zoos, parking meters and garages, toll roads and bridges, and many other types of government owned businesses are all part of individual governments listed in their CAFRs.

The total wealth of the state of Wisconsin can only truly be measured by adding up the investments, assets, funds, enterprise operations (businesses), and other government wealth and investments within each of these individual corporate governments, through each county and local government Comprehensive Annual Financial Report.

————————————————————————————————————–

***Note: There is a rabid defense of pension funds by the government employees who benefit from them, and of course by the government who controls and profits from them and their investments. But it is important to understand that the money that is being contributed to these pension funds is also taxpayer money. In 2009, the amount contributed to the Wisconsin Retirement System by state employees was $736,689,000. But the amount contributed by taxpayers who are not employees of any state office (ordinary taxpaying citizens) was $632,706,000. In other words, over $632 million in taxpayer money went to support this pension fund system in the form of government employer contributions, which could have gone to support government activities that would support the taxpayers themselves or to pay off debt. Government Employers are funded with taxpayer money. Thus their contributions are coming from taxpayer money. Simple.

The Wisconsin Retirement System pension fund made a $10.5 Billion dollar profit (return on investment) in fiscal year 2009, and a $5.4 Billion dollar profit in fiscal year 2010.

This was after all benefits and liabilities were paid for the year. This money is in no way benefiting the taxpayers of the state. This was pure profit for the fund – the return on investments!!!

***Note: This is what I could find looking at the Wisconsin State CAFR, and represents the assets and investments as reported by the state at the end of fiscal year 2010, which ended June 30, 2010. Thus, these are the totals as of that date (06/30/10) – which is the latest Comprehensive Annual Financial Report available for viewing to the public. This took two full days of reading and research to acquire. While I made every attempt at accuracy, I have no financial background. Crosschecking my accuracy and verifying if I accidentally reported any items twice is suggested. You have the report at your fingertips…

-Clint Richardson-
March 1, 2011

————————————————————————————————————–

The information below is pulled straight from the 2010 CAFR for the State of Wisconsin…

Download here: http://www.doa.state.wi.us/subcategory.asp?linksubcatid=374&locid=3

(My comments are in red)

————————————————————————————————————–

(Page 19)

FINANCIAL HIGHLIGHTS — PRIMARY GOVERNMENT

The State of Wisconsin, like the rest of the nation, experienced an economic decline that persisted from Fiscal Year 2009 in to Fiscal Year 2010. To assist in stimulating the economy, the federal 2009 American Recovery and Reinvestment Act (ARRA) provided tax relief and additional funding for approximately 132 federal programs administered by at least 16 different state agencies. Both events impacted the financial results reported for the State.

Government-wide (Tables 2 and 3 on Pages 22 and 23)

Net Assets. The assets of the State of Wisconsin exceeded its liabilities at the close of Fiscal Year 2010 by $11.7 billion (reported as “net assets”). Of this amount, $(9.9) billion was reported as “unrestricted net assets”. A positive balance in unrestricted net assets would represent the amount available to be used to meet a government’s ongoing obligations to citizens and creditors.

Changes in Net Assets. The State’s total net assets decreased by $29.3 million in Fiscal Year 2010. Net assets of governmental activities increased by $31.7 million or 0.6 percent, while net assets of the business-type activities showed a decrease of $61.0 million or 1.0 percent.

Excess of Revenues over (under) Expenses — Governmental Activities. During Fiscal Year 2010, the State’s total revenues for governmental activities of $26.2 billion were $1.3 billion more than total expenses (excluding transfers) for governmental activities of $24.9 billion. Of these expenses, $12.6 billion were covered by program revenues. General revenues, generated primarily from various taxes, totaled $13.6 billion.

Note: The State of Wisconsin, as listed under Table 3: “Changes in Net Assets”, earned $34.84 Billion in tax-based revenues, which represents a $3.89 Billion increase in revenue generation for the state. In other words, the state government through its business activities related to taxpayers earned over 3.8 billion dollars more profit than they did in the 2009 fiscal year at the taxpayers expense (See Table 3 on page 23 of the CAFR).

This Financial Highlights section makes it appear that the Wisconsin government is in trouble, but I assure you this is not the case.

Net assets of the State are listed here as well at $11,693,400,000. But this does not include the funds we will be going over starting now…

————————————————————————————————————–

(Page 75)

NOTE 5. DEPOSITS AND INVESTMENTS

The State maintains a short-term investment “pool”, the State Investment Fund, for the State, its agencies and departments, and certain other public institutions which elect to participate. The investment “pool” is managed by the State of Wisconsin Investment Board (the Board) which is further authorized to carry out investment activities for certain enterprise, trust and agency funds. A small number of State agencies and the University of Wisconsin System also carry out investment activities separate from the Board.

————————————————————————————————————–

(Page 76)

B. Investments

1. Primary Government
Wisconsin Statutes, program policy provisions, appropriate governing boards, and general resolutions contained in revenue bond indenture documents define the types of securities authorized as appropriate investments and the conditions for making investment transactions.

Investments of the State are managed by various portfolios. For disclosure purposes, the following investment portfolios are discussed separately:

Primary government, excluding the University of Wisconsin System, the Wisconsin Retirement System and the State Investment Fund. The primary government portfolios include various funds managed by the State of Wisconsin Investment Board consisting of the following:

— Local Government Property Insurance Fund (LGPIF)
— State Life Insurance Fund (SLF)
— Injured Patients and Families Compensation Fund (IPFCF)
— Historical Society Fund
— Tuition Trust Fund

University of Wisconsin System (UWS)

Wisconsin Retirement System (WRS)

State Investment Fund (SIF) — functions as the State’s cash management fund by “pooling” the idle cash balances of all State funds and other public institutions. Investments of the SIF are discussed in section B 3 of this note disclosure.

The State of Wisconsin Investment Board (the Board) has exclusive control over the investments of the Local Government Property Insurance Fund (LGPIF), the State Life Insurance Fund (SLF), the Injured Patients and Families Compensation Fund (IPFCF), the Historical Society Fund, and the Tuition Trust Fund, which are collectively known as the “various funds”.

————————————————————————————————————–

(Page 77)

Custodial Credit Risk
Custodial credit risk is the risk that, in the event of a failure of the counterparty, the State will not be able to recover the value of the investment or collateral securities that are in the possession of an outside party.

So the states investments (taxpayer money) are at risk of loss with no recovery or insurance while it is being invested without the consent or knowledge and comprehension of the taxpaying public.

————————————————————————————————————–

Primary Government (excluding the University of Wisconsin System (UWS), the Wisconsin Retirement System (WRS), and the State Investment Fund (SIF))

At June 30, 2010, the reported amount of investments of the primary government, including the various funds, was $4,403.7 million, of which $286.9 million is reported as cash equivalents and $327.0 million is reported as “Other Assets”. The primary government, including the various funds, does not have an investment policy specifically for custodial credit risk, however, at June 30, 2010, the primary government had no custodial credit risk exposure for these investments.

(in millions, The Primary Government Funds called “Various Funds”, which include the LGPIF, the SLF, the IPFCF, the Historical Society Fund, and the Tuition Trust Fund have $4.403 Billion Dollars in investments)

————————————————————————————————————–

Wisconsin Retirement System (WRS)

All assets of the WRS are invested by the State of Wisconsin Investment Board (the Board). The WRS consists of shares in the core retirement trust fund and the variable retirement trust fund…

The retirement fund assets consist of shares in the Variable Retirement Investment Trust and the Core Retirement Investment Trust. The Variable Retirement Investment Trust consists primarily of equity securities. The Core Retirement Investment Trust is a balanced investment fund made up of fixed income securities and equity securities. Shares in the Core Retirement Investment Trust are purchased as funds are made available from retirement contributions and investment income, and sold when funds for benefit payments and other expenses are needed.

The assets of the Core and Variable Retirement Investment Trusts are carried at fair value with all market value adjustments recognized in current operations. Investments are revalued monthly to current market value. The resulting valuation gains or losses are recognized as income, although revenue has not been realized through a market-place transaction.

The investments of the core retirement trust fund consist of a highly diversified portfolio of securities. Wis. Stat. Sec. 25.182 authorizes the Board to manage the core retirement trust fund in accordance with “prudent investor” standard of responsibility as described in Wis. Stat. Sec. 25.15(2) which requires that the Board manage the funds with the diligence, skill and care that a prudent person acting in a similar capacity and with the same resources would use in managing a large public pension fund.

At June 30, 2010, the WRS investments were $66.6 billion. The WRS does not have a formal policy for custodial credit risk. As of June 30, 2010, the WRS held eighteen tri-party repurchase agreements totaling $787.0 million.

(The Wisconsin Retirement System (WRS) has over $66 billion in investments.)

————————————————————————————————————–

University of Wisconsin System (UWS)

At June 30, 2010, the UWS investments were $365.8 million, of which $26.7 million is reported as cash equivalents. The UWS’s investments are registered in the name of the UWS and the UWS does not participate in any securities lending programs through its custodian bank. Investment securities underlying the UWS’s investment in shares of external investment pools or funds are in custody at those funds. The shares owned in these external investment pools are registered in the name of the UWS.

(The University of Wisconsin System (UW) has $365.8 million in investments.)

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(Page 89)

2. Component Units
…except for the Wisconsin Health Care Liability Insurance Plan and the University of Wisconsin Foundation (Other Component Units)

Wisconsin Housing and Economic Development Authority (Authority) – The Authority is required by statute to invest at least fifty percent of its General Fund funds in obligations of the State, of the United States, or of agencies or instrumentalities of the United States, or obligations, the principal and interest of which are guaranteed by the United States, or agencies or instrumentalities of the United States. Each investment portfolio specifies what constitutes a permitted investment and such investments may include obligations of the U.S. government and agencies securities; corporate bonds and notes; money market mutual funds; commercial paper; and repurchase agreements and investment agreements.

The Authority enters into collateralized investment contracts with various financial institutions. The investment contracts are generally collateralized by obligations of the United States government.

The Authority is also authorized to invest its funds in the State Investment Fund.

The Authority’s aggregate investments at June 30, 2010 were $1,023.7 million of which $843.8 million are reported as cash equivalents.

(In millions, The Wisconsin Housing and Economic Development Authority has $1.023 billion in investments)

————————————————————————————————————–

University of Wisconsin Hospital and Clinics Authority – The University of Wisconsin Hospitals and Clinics Authority’s (the Hospital) aggregate investments at June 30, 2010 were $375.6 million of which $248.2 million (invested with the University of Wisconsin Foundation, see investment disclosure discussion for the University Wisconsin Foundation) are reported as “Cash and Investments with Other Component Units.” The board of directors has authorized management to invest in debt and equity securities.

(In millions, The University of Wisconsin Hospital and Clinics Authority has $375.6 million, $127.4 million of which is not invested in the University fund (see above))

————————————————————————————————————–

State Fair Park Exposition Center, Inc. – The aggregate investments at December 31, 2009 were $.2 million consisting of money market funds reported as cash equivalents.

(In millions, The State Fair Park Exposition Center, Inc has $200 thousand in investments)

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(Page 91)

Other Component Units

Wisconsin Health Care Liability Insurance Plan (WHCLIP) – Aggregate investments of the WHCLIP were $72.0 million, of which $13.2 million are money market and other highly liquid debt instruments reported as cash equivalents.

The WHCLIP does not hold investments in any one issuer that exceeds 5 percent of total assets.

As of December 31, 2009, the WHCLIP did not own any issues denominated in a foreign currency.

Excluded investments include: bonds rated below A by a major rating service at the time of purchase, foreign bonds not denominated in U.S. currency, futures transactions, short selling, use of margin, derivatives and hedge funds.

The investments of the WHCLIP at December 31, 2010 were $58.9 million consisting of the following (in millions):

Amortized Estimated Investment Type Cost Fair Value

U.S. Treasury securities and
–   obligations of the U.S. government
–   corporations and agencies                    $10.1
Debt securities issued by foreign
–   governments and corporations             $3.2
Industrial and miscellaneous                   $25.5
Loan-backed securities                              $24.2

Total                                                         $63.0

(In millions, The WHCLP Fund has $72 million in investments)

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(Page 92)

University of Wisconsin Foundation (the Foundation) – Aggregate investments of the Foundation are $2,006.6 million.

The following table summarizes the types of investments of the Foundation at December 31, 2009 (in millions):

Investment Type Fair Value

Bond and debentures    $455.5
Stocks                                $512.2
Bond funds                      $106.0
Stock funds                        $25.5
Hedge funds                    $478.4
Limited partnerships     $278.6
Real asset funds              $146.2
Other funds                          $4.2

Total                         $2,006.6

(in millions, University of Wisconsin Foundation Fund has $2.006 Billion in investments)

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(Page 101)

Component Unit

University of Wisconsin Foundation – The University of Wisconsin Foundation’s (the Foundation) endowment consists of 3,067 individual funds established for a variety of purposes. Its endowment includes both donor-restricted endowment funds and funds designated by the Board of Directors to function as endowments. Net assets associated with endowment funds, including funds designated by the Board of Directors to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions.

The Board of Directors has interpreted the Uniform Management of Institutional Funds Act (UPMIFA) as requiring the preservation of fair value of the original gift as of the gift date of the donorrestricted endowment funds absent explicit donor stipulations to the contrary. As a result of this interpretation, the Foundation classifies as permanently-restricted net assets (a) the original value of gifts donated to the permanent endowment, (b) the original value of subsequent gifts to the permanent endowment, and (c) accumulations to the permanent endowment made in accordance with the direction of applicable donor gift instrument at the time the accumulation is added to the fund. The remaining portion of the donor-restricted endowment fund that is not classified in permanently-restricted net assets is classified as temporarily-restricted net assets until those amounts are appropriated for expenditure by the organization in a manner consistent with the standard of prudence prescribed by UPMIFA. In accordance with UPMIFA, the organization considers the following factors in making a determination to appropriate or accumulate donor-restricted endowment funds:

• The duration and preservation of the fund
• The purpose of the Foundation and the donor-restricted endowment fund
• General economic conditions
• The possible effect of inflation and deflation
• The expected total return from income and the appreciation of investments
• Other resources of the Foundation
• The investment policies of the Foundation

Endowment Net Asset Composition by Type of Fund as of December 31, 2009 (in millions):

Unrestricted  –  Temp. Restricted  –  Perm. Restricted  –  Total

$(38.2)                        $175.0                        $749.5            $886.3

(In other words, the Board Of Directors of the University of Wisconsin Foundation have made the original donations made by a donor(s) (known as endowments) a restricted money base, meaning it cannot be used for anything else. But the money made on the investment gains from these donations, the capital gains, are designated as “unrestricted” and can be used or transferred elsewhere in government or into these types of secretive funds not reported to the taxpayer on the annual taxpayer budget report.)

(So… In millions, The University Of Wisconsin Fund also includes $886.3 million in cash and investments, which are “donor-restricted”.)

(Page 100)

The University of Wisconsin System invests its trust funds, principally gifts and bequests designated as endowments or quasi-endowments, in two of its own investment pools: the Long Term Fund and the Intermediate Term Fund. Benefiting University of Wisconsin System entities receive quarterly distributions from the Long Term Fund, principally endowed assets, based on an annual spending rate applied to a 12-quarter moving average market value of the fund…

University of Wisconsin System investment policies and guidelines for the Long Term Fund and Intermediate Term Fund are governed and authorized by the Board of Regents.

The fair value of Endowments as of June 30, 2010 was $370.7 million including an unrealized gain of $38.4 million when fair values as of June 30, 2010 are compared to asset acquisition costs. This compares to a fair value as of June 30, 2009 of $336.9 million. The net increase in fund balance during 2009-10 was $33.8 million. (That’s profit!)

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(Page 102)

Celebrate Children Foundation, Inc
The Celebrate Children Foundation Inc. (CCF) endowment includes both donor-restricted funds and funds designated by the Board of Directors to function as endowments. As required by generally accepted accounting principles, net assets associated with endowment funds, including funds designated by the Board of Directors to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. The Board of Directors of the CCF has interpreted the State Prudent Management of Institutional Funds Act (SPMIFA) as requiring the preservation of the fair value of the original gift as of the gift date of the donor-restricted endowment funds absent explicit donor stipulations to the contrary. As a result of this interpretation, the CCF classifies as permanently restricted net assets (a) the original value of gifts donated to the permanent endowment, (b) the original value of subsequent gifts to the permanent endowment, and (c) accumulations to the permanent endowment made in accordance with the direction of the applicable donor gift instrument at the time the accumulation is added to the fund…

(Page 103)

…The CCF expects the current spending policy to allow its endowment funds to grow at a nominal average rate of 3 percent annually. This is consistent with the CCF’s objective to maintain the purchasing power of the endowment assets as well as to provide additional real growth through new gifts and investment return. (But what about the children???)

Endowment net asset composition as of June 30, 2010:

–                      Unrestricted  –  Perm-Restricted  –  Total

Donor-restricted       $ —                   $1,083,214         $1,083,214

Unrestricted

Board-designated  (14,812)                     —                      (14,812)

Total                   $(14,812)          $1,083,214     $1,068,402

(In millions, Celebrate Children Foundation, Inc Fund includes $1.068 million in cash and investments which are “donor-restricted”.)

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(Page 93)

3. State Investment Fund

The State Investment Fund (SIF) functions as the State’s cash management fund by “pooling” the idle cash balances of all State funds and other public institutions. In the State’s Comprehensive Annual Financial Report, the SIF is not reported as a separate fund; rather, each State fund’s share in the “pool” is reported on the balance sheet as “Cash and Cash Equivalents.” Shares of the SIF belonging to other participating public institutions are presented in the Local Government Pooled Investment Fund, an investment trust fund.

Wis. Stat. Secs. 25.17(3)(b), (ba), (bd) and (dg) enumerate the various types of securities in which the SIF can invest, which include direct obligations of the United States or its agencies, corporations wholly owned by the Untied States or chartered by an act of Congress, securities guaranteed by the United States, unsecured notes of financial and industrial issuers, direct obligations of or guaranteed by the government of Canada, certificates of deposit issued by banks in the United States and solvent financial institutions in Wisconsin, and bankers acceptances. Other prudent investments may be approved by the State of Wisconsin Investment Board’s (the Board) Board of Trustees.

Investments are valued at fair value for financial statement purposes and amortized cost for purposes of calculating income to participants. The custodial bank has compiled fair value information for all securities by utilizing third party pricing services. The fair value of investments is determined at the end of each month. Government and agency securities and commercial paper are priced using matrix pricing. This method estimates a security’s fair value by using quoted market prices for securities with similar interest rates, maturities, and credit ratings. Short-term debt investments with remaining maturities of up to 90 days are valued using amortized costs to estimate fair value, provided that the fair value of those investments is not significantly affected by the impairment of the credit standing of the issuer or by other factors. Repurchase agreements and nonnegotiable certificates of deposit are valued at cost because they are nonparticipating contracts that do not capture interest rate changes in their value. In addition, a bond issued by another State agency having a par value of $21.2 thousand is valued at par, which management believes approximates fair value.

(Page 94)

For purposes of calculating earnings to each participant, all investments are valued at amortized cost. Specifically, income is distributed to pool participants’ monthly based on their average daily share balance. Distributed income includes realized investment gains and losses calculated on an amortized cost basis, interest income based on stated rates (both paid and accrued), amortization of discounts and premiums on a straight-line basis, and investment and administrative expenses. This method differs from the fair value method used to value investments because the amortized cost method is not designed to distribute to participants all unrealized gains and losses in the fair values of the pool’s investments.

Custodial Credit Risk

The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty to a transaction, the Board will not be able to recover the value of investments or collateral securities that are in the possession of an outside party. Investments are exposed to custodial credit risk if the securities are uninsured and unregistered and are either held by the counterparty or by the counterparty’s trust department or agent but not in the name of the Board.

At June 30, 2010, the reported amount of investments was $6,603.9 million. The SIF had no custodial credit risk exposure for these investments.

Interest Rate Risk
Interest rate risk is defined as the risk that changes in interest rates will adversely affect the fair value of investments. The weighted average maturity method is used to analyze interest rate risk and investment guidelines mandate that the weighted average maturity for the entire portfolio will not exceed one year. At June 30, 2010, the following table shows the investments by investment type, amount and the weighted average maturities (in millions):

Weighted Average Investment Fair Value

Bank NOW account deposits      $755.6
Repurchase agreements           $1,249.0
Government and agency          $4,599.0
Certificates of deposit                      $0.3
Mortgage backed securities        $331.0

Total                                       $6,603.9

(In millions, The State Investment Fund has $6.603 Billion Dollars in investments)

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(Page 95)

4. Lottery Investments and Related Future Prize
Obligations

Investments of the State Lottery Fund totaling $64.0 million are held to finance grand prizes payable over a 20-year or 25-year period. The investments in prize annuities are debt obligations of the U.S. government and backed by its full faith and credit as to both principal and interest. Liabilities related to the future prize obligations are presented at their present value and included as Accounts Payable and Other Accrued Liabilities.

(in thousands, there is $64 Million Dollars in investments in the “Lottery Fund”)

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(Page 128)

G. Arbitrage Rebate
The Tax Reform Act of 1986 requires that governmental entities issuing tax-exempt debt subsequent to August 1986, calculate and rebate arbitrage earnings to the federal government. Specifically, the excess of the aggregated amount earned on investments purchased with bond proceeds over the amount that would have been earned if the proceeds were invested at a rate equal to the bond yield, is to be rebated to the federal government. As of June 30, 2010, a liability for arbitrage rebate did not exist.

(Though it didn’t happen in fiscal year 2010, some investment income called “arbitrage” is given to the Federal Government as a penalty (tax) for making what you might call other than legal investment returns.)

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(Page 142)

NOTE 19. SELF-INSURANCE
It is the general policy of the State not to purchase commercial insurance for the risks of losses to which it is exposed. Instead, the State believes it is more economical to manage its risks internally and set aside assets for claim settlement in its internal service fund, the Risk Management Fund. The fund services most claims for risk of loss to which the State is exposed, including damage to State owned property, liability for property damages and injuries to third parties, and worker’s compensation. All funds and agencies of the State participate in the Risk Management Fund.

Changes in the balances of claims liability for the Risk Management Fund during the current and prior fiscal years are as follows (in thousands):

–                                                                  2010               2009

Beginning of fiscal year liability      $103,119         $95,000

Current year claims and changes
in estimates                                          $21,376          $41,508

Claim payments                                  (28,278)         (28,089)
–                                                      _____________________

–                                                              $96,217          $108,419

Excess insurance reimbursable        (1,370)            (5,300)
–                                                      _____________________

Balance at fiscal year-end       $94,847       $103,119

(In thousands, the Risk Management Fund used for lawsuits against the state and for worker’s comp (taxpayer money in this fund) is 94.84 million dollars.)

————————————————————————————————————–

And now, listed here are the individual funds where much of this money is being hidden and invested. This is a list of all reported funds. A description of each fund can be found in the CAFR. Page numbers are listed as reference to those descriptions. Many of these funds grew (made a profit) for fiscal year 2010 over 2009 totals, some by millions of dollars (see balance sheet). Only the totals for each fund are listed here, as presented in the combining balance sheets following the descriptions of the funds within the 2010 CAFR. Some funds are grouped into total balances on the balance sheet, and these are notated as (see below).

————————————————————————————————————–

(Pages 169-182)

NONMAJOR GOVERNMENTAL FUNDS

SPECIAL REVENUE: Special revenue funds account for the proceeds of specific revenue sources that are legally restricted to expenditures for a specified purpose. The State’s special revenue funds are described below:

The Conservation Fund

–> $92,152,000

The Election Administration Fund

–> $16,244,000

The Utility Public Benefits Fund

–> $20,491,000

The Petroleum Inspection Fund

–> $14,132.000

The Wisconsin Public Broadcasting Foundation Fund

-> $12,393,000

The Celebrate Children Foundation Fund

–> $1,523,000

The Heritage State Parks and Forests Fund

–> (See Below)

The Waste Management Fund

–> (See Below)

The Environmental Fund

–> (See Below)

The Dry Cleaner Environmental Response Fund

–> (See Below)

The Recycling and Renewable Energy Fund

–> (See Below)

Total for above (5) funds listed as “Other Environmental Revenue Funds” above

$87,843,000

OTHER SPECIAL REVENUE FUNDS – account for resources that must be used for specific purposes and include the following:

The Wisconsin Election Campaign

-> (See Below)

The Investment and Local Impact

-> (See Below)

The Industrial Building Construction Loan Fund

-> (See Below)

————-

(Page 170)

————-

The Self-insured Employers Liability Fund

-> (See Below)

The Work Injury Supplemental Benefit Fund

–> (See Below)

The Workers Compensation Fund

–> (See Below)

The Uninsured Employers Fund

–> (See Below)

The Mediation Fund

–> (See Below)

The Police and Fire Protection Fund

–> (See Below)

The State Capitol Restoration Fund

–> (See Below)

The Agricultural Chemical Cleanup Fund

–> (See Below)

The Agrichemical Management Fund

-> (See Below)

The Agricultural Producer Security Fund

–> (See Below)

The Historical Legacy Trust Fund

–> (See Below)

The History Preservation Partnership Trust Fund

–> (See Below)

The Wireless 911 Fund

–> (See Below)

The VendorNet Fund

–> (See Below)

The Universal Service Fund

–> (See Below)

The Children’s Trust Fund

–> (See Below)

Total for above (19) funds listed as “Other Special Revenue Funds”

-> $80,155,000

(Total Special Revenue Funds – $324,932,000)

————-

(Page 170)

————-

DEBT SERVICE FUNDS: Debt service funds account for the accumulation of resources for, and the payment of, principal, interest and related costs of general long-term obligations:

The Bond Security and Redemption Fund

-> $20,039,000

The Annual Appropriation Bonds

-> $33,905,000

The 2009 Annual Appropriation Bonds

-> $126,000

The Badger Tobacco Asset Securitization Fund

-> $8,564,000

The Petroleum Inspection Revenue Bonds Fund

–> $4,393,000

The Transportation Revenue Bonds Fund

–> $149,968,000

(Total Debt Service Funds – $216,994,000)

CAPITAL PROJECTS FUNDS: Capital projects funds account for financial resources used for the acquisition, construction, renovation or repair of major capital facilities (other than those financed by proprietary funds and trust funds). The State’s capital projects funds are described below:

The Building Trust

–> $24,775,000

The Capital Improvement Fund

–> $39,135,000

The Transportation Revenue Bonds Fund

–> $24,243,000

(Total Capital Projects Funds – $88,153,000)

PERMANENT FUNDS: Permanent funds are used to report resources
that are legally restricted to the extent that only earnings,
principal, may be used to support the State’s programs:

The Historical Society Fund –>

$9,400,000

The Other Permanent Fund accounts for various resources legal restrictions requiring that principal remain intact and earnings may be spent, including the following:

• The Agricultural College and University statutory funds

–> (See Below)

• The Normal School statutory fund

-> (See Below)

• The Benevolent statutory fund

–> (See Below)

Total for above (3) funds listed as “Other Permanent Funds”

> $24,980,000

(Total Permanent Funds – $34,380,000)

—————————————————————————————-

(TOTAL NONMAJOR GOVERNMENTAL FUNDS – $664,459,000)

—————————————————————————————-

(Pages 183-191)

NONMAJOR ENTERPRISE FUNDS

ENTERPRISE FUNDS: Enterprise funds account for business-like State
activities that provide goods and/or services to the public and are
financed primarily through user charges. The State’s enterprise
funds are described below:

The Lottery Fund

–> $158,368,000

The Income Continuation Insurance Fund

–> $82,794,000

The Long-term Disability Insurance Fund

–> $218,977,000

The Health Insurance Fund

–> $216,313,000

The Veterans Trust Fund

–> $54,736,000

The Veterans Mortgage Loan Repayment Fund

–> $288,514,000

The Care and Treatment Facilities Funds – account for various
resident facilities including:

• The Mendota Mental Health Institute Fund

–> $31,804,000

• The Winnebago Mental Health Institute Fund

–> $26,047,000

• The Homes For Veterans Fund

–> (See Below)

• The Northern, Central, and Southern Developmental Disabilities Center Funds

–> (See Below)

Total for above (2) funds listed as “Other Care and Treatment Facilities”

-> $120,426,000

OTHER ENTERPRISE FUNDS: account for the following programs:

The State Fair Park Fund

–> (See Below)

The Institutional Farm Operations Fund

–> (See Below)

The Correctional Canteen Operations Fund

–> (See Below)

The Local Government Property Insurance Fund

–> (See Below)

The State Life Insurance Fund

–> (See Below)

The Transportation Infrastructure Loan Fund

–> (See Below)

The Life Insurance Fund

–> (See Below)

Total for above (7) funds listed as “Other Enterprise” funds

-> $248,093,000

——————————————————————————————————-

(TOTAL NONMAJOR ENTERPRISE FUNDS listed as “All Nonmajor Funds” – $1,446,072,000)

——————————————————————————————————-

(Pages 192-201)

INTERNAL SERVICE FUNDS

INTERNAL SERVICE: Internal service funds account for the operations of State agencies which render services to other State agencies, institutions, or other governmental units on a cost-reimbursement basis. The State’s internal service funds are described below:

The Technology Services Fund

–> $40,917,000

The Fleet Services Fund

–> $32,676,000

The Financial Services Fund

–> $3,143,000

The Facilities Operations and Maintenance Fund

–> $253,425,000

The Risk Management Fund

–> $9,223,000

The Badger State Industries Fund

–> $10,724,000

——————————————————————————————————-

(TOTAL INTERNAL SERVICE FUNDS listed as “totals” – $350,107,000)

——————————————————————————————————-

(Pages 202-212)

FIDUCIARY FUNDS

FIDUCIARY FUNDS: Fiduciary funds are maintained to account for assets held by the State acting in the capacity as a trustee or agent. The State’s fiduciary funds, consisting of pension and other employee benefit trust, investment trust, private-purpose trust, and agency funds, are described below:

PENSION AND OTHER EMPLOYEE BENEFIT TRUST FUNDS: Pension and other employee benefit trust funds are used to report resources that are required to be held in trust for members and beneficiaries of the public employee retirement system or other employee benefit plans:

The Wisconsin Retirement System Fund

–> $66,415,157,000

The Accumulated Sick Leave Fund

–> $-393,157,000 (Total assets listed at + $1,802,597,000)

The Duty Disability Fund

–> $334,828,000

The Reimbursed Employee Expense Fund

–> $1,108,000

The Local Retiree Life Insurance Fund

–> $225,553,000

The Retiree Life Insurance Fund

–> $353,669,000

——————————————————————————————————-

(TOTAL PENSION AND OTHER EMPLOYEE BENEFIT TRUST FUNDS listed as “Totals” – $66,937,157,000)

——————————————————————————————————-

INVESTMENT TRUST FUNDS: Investment trust funds account for assets invested on a commingled basis by the State on behalf of other governmental entities. The State’s investment trust funds are described below:

The Local Government Pooled Investment Fund

–> $2,490,278,000

The Milwaukee Retirement System Fund

–> $116,120,000

——————————————————————————————————-

(TOTAL INVESTMENT TRUST FUNDS listed as “Totals” –> $2,606,398,000)

——————————————————————————————————-

PRIVATE-PURPOSE TRUST: Private-purpose trust funds are used to report all other trust arrangements under which principal and income benefit individuals, private organizations, or other governments:

The Tuition Trust Fund

–> $8,473,000

The BadgerRx for Individuals Fund

–> $177,000

The College Savings Program Trust Fund

–> $2,247,475,000

The Retiree Health Insurance Fund

–> $9,556,000

——————————————————————————————————-

(TOTAL PRIVATE-PURPOSE TRUST FUNDS listed as “Totals” – $2,265,681,000)

——————————————————————————————————-

AGENCY FUNDS: Agency funds report those assets for which the State acts solely in a custodial capacity. The State’s agency funds are described below:

The Insurance Company Liquidation Account Fund

–> $720,000

The Local Retiree Health Insurance Fund

–> $2,156,000

The Inmate and Resident Fund

–> $16,711,000

The Bank and Insurance Company Deposits Fund

–> $303,730,000

The Support Collection Trust Fund

–> $11,521,000

——————————————————————————————————-

(TOTAL AGENCY FUNDS listed as “Totals” – $334,837,000)

——————————————————————————————————-

——————————————————————————————————-

END OF REPORT

——————————————————————————————————-

Again, the above information is taken from the State of Wisconsin’s Comprehensive Annual Financial Report for fiscal year ending June 30, 2010.

Going through these reports is the only way to get a grasp on the amount of wealth your local, county, or state government has in its hidden funds and investments.

Please do not let my efforts go to waste! This needs to be seen by all taxpaying citizens, no matter what state they reside in. This is a blueprint for most or all state governments. If you stay silent about this, you are giving your consent to this crime.

Silence is consent.

Confront your legislators.

Ask questions. Demand answers.

Get a rope…

.

Please go to these other websites for more information on CAFR’s:

TheCorporationNation.com

CAFR1.com

.

–Clint Richardson (realitybloger.wordpress.com)

Tuesday, March 1, 2011