California Government Hides Billions From Taxpayers:
"The Simple Truth
The State Government of California has $100′s of billions in liquid investments and assets, could easily pay off all of its debt tomorrow, and would have $100′s of billions left over.
What if I could show you over $577 billion in investment fund balances that aren’t being reported by the California State Government on its budget report?
Well that is what I’m about to do…
In this article we will once again show the purposeful omission of massive amounts of wealth by your government. If you live in California, this may well be the most important thing that you read this year. If you live elsewhere… rest assured that the same holds true in your State, County, Municipality, School and other districts."
"So… is California in such a financial deficit, as the.... revised budget plan so matter-of-factly states?
This is the question that we will be answering today. But in order to answer this question, we must go to the true source of financial auditing for government, the Comprehensive Annual Financial Report (CAFR). This report – the full accounting of government and its investments – is virtually never spoken of publicly. It is not mentioned on the nightly news. And it is not referred to when addressing the people about taxpayer issues and budgetary considerations and shortfalls. In short, this CAFR report is the Holy Grail of government accounting; very difficult to read and comprehend, and worse of all… it is hidden in plain sight."
California Government Hides Billions From Taxpayers REALITY BLOG