CAFR – what is it and why you should know about it
CAFR – Comprehensive Annual Financial Report
Why every American should know about it?
Let’s start with a short story:
Suppose Mr. X earns 100K annually, spends 20K, and saves the rest every year. Mr. Y knows this.
This year Mr. X again earned 100K but spent 21K. He goes over to Mr. Y, claiming he needs 1K and requests that amount from Mr. Y.
"You have 79K at your disposal (not counting past savings)" says Mr. Y.
"No", says Mr. X, "rather, my budget is 20K and I’m 1K in the red, It’s a budgetary shortfall – you should give me 1K".
"Go scam somebody else" says Mr. Y and throws Mr. X out of his house.
"Collecting more taxes than is absolutely necessary is legalized robbery"
– Calvin Coolidge.
You’re probably familiar with budget reports – every School District, County, City (and their various agencies) and State have one – whenever there’s a need to raise taxes – of any kind – the mantra is always "budgetary shortfall" – how else could such action be justified?
Well, as it turns out, there’s one thing they forgot to tell us about – they’ve been keeping two sets of books and use one to distract us from knowing about the other – CAFR.
In the budget report all the expenses are dutifully reported but only a fraction of the revenues are listed – to find out the real story, you would need to get your hands on the CAFR.
If you do so, you will find the biggest scam on the planet – they’ve been hiding hundreds of billions from the American public, so they can keep extracting money from citizens under the pretense of "budgetary constraints".
To find out if this is just some conspiracy BS or true, where can you get a copy of your School District/County/City etc. CAFR? – At your local library for one, but these days you can do it from the comfort of your home:
To learn more visit the Home Page of above URL:
And you may also want to watch this presentation:
fixfox69 – thanks for this post. This CAFR story is huge.
Those links look good…I need them to better understand