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AZ HB2572 Passes - CAFR Transparency bill by Walter Burien - CAFR1 04/22/11 AZ HB2572 Passes in Arizona and was signed into law by Governor Brewer on April 14th 2011
http://www.azleg.gov//FormatDocument.asp?inDoc=/legtext/50leg/1r/laws/0119.htm&Session_ID=102 HB2572 known as the CAFR Transparency bill of which I sent a prior post out on is a step in the right direction but it is deceptive in several areas. I made the suggestions to the sponsor of the bill for modification in text where it would then be truly transparent but my three suggestions were not implemented into the bill. They were as follows: 1. The biggest deception government has played on the population was never mentioning the investment funds held by that local government. The bill focuses on a showing of expenditures and budgetary income. For transparency the first line focus should be on a clear listing of all investment funds held by that local government, held in any capacity. There is not one mention of investment funds in the bill's text and to do so was my first suggestion and was not implemented into the text of the bill. . 2. I could put a 100 elephants on my property and if no one saw them, no one would know they were there. Or if I put one elephant on a corner in downtown Phoenix millions could be talking about it by the end of the day. With that in mind I suggested that the following text be added on every city; county; and state tax bill that went out: "We strongly suggest that our taxpayers carefully review their local government CAFRs" giving the website link that the bill would implement where all local government CAFRs would now be listed on. There was no issue of cost on this suggestion being that the tax bill would be going out anyway and it is just a little extra ink but that would be putting the elephant on the downtown street corner in any light of transparency. My second suggestion for this text to be added tothe tax bills was also not implemented into the bill. 3. The bill applied to local City; County; State; School Districts; and Universities. I mentioned that the Enterprise Operations of the same or stand-alone ones were the biggest holding grounds for specialty advance forward liability funds (a tactic used to turn an ongoing profit into a liability designated for future projects or paying for existing or presumed future debt). Some of these advance forward liability investment funds are massive and never being mentioned or discussed with the public hinges on severe fraud on the part of that lack of transparency. I strongly suggested that the enterprise operations be included in the responsible parties targeted in this bill. My third suggestion of including the Enterprise Operations was also not implemented in the text of the bill. The good thing is that the bill was a step in the right direction. The great thing is all of the other states you now have a precedent to require they do the same "and" include the text as I have outlined above. With that being done you will now have a true CAFR transparency bill in effect for your state. So don't delay, make it happen... Please share with those that you know. Sent FYI and truly Yours, Walter Burien - CAFR1.com P. O. Box 2112 Any local government can be restructured to meet their annual budget needs "Without" taxes. TRF (Tax Retirement Funds) paying for every City, County, State's annual budgetary needs! What is taxation? ANS: A revenue source. What is investment income and enterprise income? ANS: A revenue source. It s time to replace one revenue source with another. Taxation is not needed, TRF today and no taxation for tomorrow. Would you like to help the CAFR1 effort?
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