Comprehensive Annual Financial Report (CAFR) what are they?
CAFR is a set of government financial statements, which goes beyond the minimums established for Annual Financial Reports.
So your Town/Province is broke, are you sure? They HAVE to raise taxes right?
If we explore the issue we find a different story. A double set of books is set up,( Similar to the Mafia) only one of which the public sees that being, operating budget/expenditures. Arnprior for example is KNOWN to have the $7 million it received from the sale of Hydro Arnprior which has been invested untouched for 9 years, (in 2002) but they can’t fix the roads. Other previous investments over 70 years we will not know until people demand it. (Arnprior annual budget is $10 million)
(New York City alone has $1 trillion of “hidden investments”, but they can’t fix the roads) ALL levels of Government/School boards/Pension funds etc. perform this deceit . The Ontario Teachers’ Union owns The Toronto Blue Jays for example, ….. Rogers….. Buying a majority stake in Maple Leafs Sports and Entertainment from the Ontario Teachers’ Pension Plan http://benmaller.com/2010/12/blue-jays-owners-to-buy-nbas-raptors-nhls-maple-leafs/
http://cafr1.com/STATES/ listed CAFR by US states Can. Provinces, (slow loading)
Listen to a US expert:
So when your cars suspension/steering are continually demolished on the rocky road to the great car graveyard, or as you foot the bill for hundreds of dollars in repairs have pity on the poor Town struggling to manage its vast locked-in investments from which you will NOT benefit.