BREAKING NEWS: California State CAFR looked at; Fraud identified; Heads Roll
by Walter Burien - CAFR1
07/21/12

First Domino to fall:

It appears someone did a little digging into the CA State CAFR report.

It is not said in the Los Angeles Times News Article but it would be my estimate that the funds identified were sitting in a designated advance liability account. Now it is time to turn the same rocks over for all cities; county; state; enterprise; school district; and state university accounts.

For the CA State Parks it was 54-million. Collectively for all local government operations (tens of thousands of operations) it is a few trillion.

The department head resigned and the assistant fired. What cojones did they forget, or intentionally ignore to cut off? The state attorney who dotted the "I's" and crossed the "T's" setting up the hidden funding account for them in the first place (Emphasis added)

Every one of these stash accounts is signed off on by the city; county; or state attorney.. The true fraud begins there, and usually the same is checked off on by a local judge.  (Again; Emphasis added) Attorneys running the show, the employee(s) following their instructions but then the employee getting the axe as the scape goat.

Per these types of situations: If "true" accountability came to play: Black robes and their cooperative suited shill attorneys should be forced to dress in orange jump suits and locked in an eight by ten cell for a very long time.

Have your local Sheriff investigate and arrest the true responsible party for the fraud involved in these matters. The attorneys and judges who structured and then signed off on it all.

Please share with all that you know, re-post, blog, and website post.

Sent FYI from,

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

Tel. (928) 458-5854
__________________________________

Follow-up to the previous post above.

I entered a comment to the LA Times article.

The comment was as follows.

Walter Burien - CAFR1

Look carefully at the notes to the financial section of your local Gov CAFRs to spot those millions or billions of dollar in advance forward liability investment stash accounts.

The way to use Google to find your local government's CAFR reports is put in the search line using quotes as an example:  "City of X"  "Annual Financial Report"

Do the same for your county, city, state, school district, state university, etc.

Here is a VERY important note for you. When you look at the financial columns it is a "Net" showing. Many games can be played there. For examples sake I will use the following:

If you and I had 1-billion dollars. If we set aside 700-million to buy an island 5-years from now (designated liability) our NET available is 300-million. If we then ran up projected expenses for the year of 320-million, then our net position "promoted today" is 20-million in the red (deficit)

On the City; County; and State level more money changes hands than Midas ever dreamed about. The public gets masterfully entertained in left field as the attorneys cut the deals behind closed doors in right field building their next financial power base and personal fortunes at the public's expense.

Get together with a few friends and carefully examine you local government's CAFRs today! You will be amazed (and furious) at what you find of how a profit is converted into a liability.

Follow-up.

I entered an additional comment on 07/22/12 to the LA Times article.

The comment was as follows.

Walter Burien - CAFR1

WalterBurien at 4:47 AM July 22, 2012

For those who have a sharp mind and the ability for cognitive thinking to learn quickly, a retired federal auditor of 30-years, Gerald Klatt at my prompt in 2000 put up a website to show CAFR reviews that highlighted government surpluses.

From his front page http://CAFRMan.com on the left he has listed CAFR reviews of most States. His reviews stop at 2003 being that he died mysteriously in July of 2004. The reviews are valid today being that they are a line-item guide that can be used for 2012.

Gerald points out "true" surpluses and for CA on the State level notes 59.83-billion dollars. http://cafrman.com/Articles/Art-CA-S1.htm

A false misconception has been floating around the internet that CA on the State level has 600-billion in surplus taxation held. This is NOT true. Yes they have in excess of 600-billion of investments but a truthful independent audit of the same could determine what was true surplus and what was truly needed to fund needed programs / projects.

My estimate is that 30% to 40% is strictly, and would be determined as "Fat Cat Stashes".

It is very important to note: "This is just on the State level". Local government operations "in" California (thousands of entities) each have their own holdings separate from the state.

Collectively totals there are in excess of 8-trillion dollars. A complete and "honest" audit there is needed.

WJB-CAFR1