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« Why More Legislators Should Blog | Main | Watch This Space » June 10, 2005Does Tennessee Really Have $4 Billion Socked Away?
The total funds hoarded by Tennessee represents about $5,000 per family of four. Frog Gigger writes: Here's an interesting stat. Remember when the income tax was being discussed and the proponents were crying about the state's bond rating? According to the CAFR, Tennessee's long term debt is $1B with estimated interest over the next 25 years to be $400M. Tennessee could wipe out it's long term debt this year using 25% of the money it is hoarding thus saving the taxpayers $400M in interest. All of the experts agree that being debt free is the optimum financial condition for private as well as government entities. (2004 CAFR, page 59).Good question. Here's another good question that we ought to be asking this person and this person and this person and all of these folks and all of these people too: How much of that squirreled-away $4 billion is federal dollars obligated to certain projects and programs - and how much of it is cash that was sucked out of the pockets of Tennessee taxpayers? Posted in Tennessee Budget & Tax Policy
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The Biggest Shell Game For Theft In This World's History! Organized Government at all levels holds back it's Financial Statement from the people of America for over 50 years! By Walter J. Burien, Jr. http://walterburien.blogspot.com The Biggest Shell Game For Theft In This World's History The Truth About State and Local Governments Having Excesses of Your Tax Dollars They Are Not Using. http://www.cafrman.com Posted by: Doug Kenline at June 11, 2005 02:21 AMKeep in mind that those "federal dollars" are also "cash that was sucked out of the pockets of Tennessee taxpayers, just using a different method. Posted by: Michael Chaney at June 11, 2005 07:51 AMI've been blogging on the open secret of CAFRs since 2002. State Senator Curtis Person brought it out in the open late in 2002, promising to have it looked into. He never did. Look at it this way: What we get presented in public discussions of State finances is the same as someone only showing you their paystub and their bills, then claiming one doesn't cover the other. But then you ask them about the house they own, the savings accounts, the retirement and pension accounts, the college funds for the kids, the Christmas account; the cars, boats, bikes, etc. they own; the properties they own. You get the idea. Suddenly, you see this person doesn't have any money problems, but spending problems. CAFRs are the same thing: a complete financial audit of the State. They used to be simple, short statements back when no one knew what they were or that they even existed, but in recent years they have ballooned into hundred-plus page monsters intended to hide information. Looking for them online is also fun. They are buried deep in the F&A website under an innocuous and misleading name. When you click on them you get a grave warning first about PDF documents. No other PDF link in government I've seen does this. Counties and incorporated cities have to do the same thing. Try looking up the CAFRs for your city or county sometime. Posted by: mike hollihan at June 11, 2005 01:05 PMThe NET WORTH and GROSS INCOME are far detached from a specific and selectively created Budget report. Broaden your horizon now, and understand the deception fed to you on the self-serving plate presented from your Bureaucratic, Administrative, Corporate, and For Profit government. http://cafr1.com/ Google Walter J. Burien Posted by: Doug Kenline at June 11, 2005 02:29 PMGovernor Bredesen, then, didn't need to cut TennCare...if these figures are correct. In fact, there are internal memos that show this administration will suddenly discover money in 2006--election yr--so some enrollees can be added back. Mr Hobbs how about a little more information? How much debt does Tennessee have? How much is Tennessee's share of Bush and the neo-con's middle east rearrangement? Could you please explain why you are all upset about having to pay taxes and yet you support the current administration which has given us a historic debt? Who do you imagine is going to have to pay that debt? The top 2% got tax cuts so they are not going to have to pay it are they? If TN had an income tax then each could pay according to their ability. You are paying more then the owner of the Titans and Tennessee professional footballl players who are multi-millionaries. Is that why you're angry? Guess if you had the right values you'd be a football player instead of a blogger. Posted by: yeula at June 11, 2005 02:42 PMYeula's back! Whee! To celebrate, I'm going to fisk yeula's rather dumb comment: Mr Hobbs how about a little more information?I gave you a link to Frog Gigger's post, and to the CAFR itself - that's all the information there is. I've held nothing back! How much debt does Tennessee have?As I noted in the post, about $1 billion in debt. How much is Tennessee's share of Bush and the neo-con's middle east rearrangement?That would be zero - Tennessee's budget is separate from the federal budget and you will find no line item in it for the Iraq operations. Could you please explain why you are all upset about having to pay taxes and yet you support the current administration which has given us a historic debt?I'm not "all upset about having to pay taxes." I am willing to pay taxes when necessary. And my post is about Tennessee's budget, not the federal budget, which has the debt to which you refer. Most of that debt was amassed under the presidents prior to the current president. Who do you imagine is going to have to pay that debt?Taxpayers, of course. The top 2% got tax cuts so they are not going to have to pay it are they?Actually, the wealthy pay most of the taxes and even after the fairly minor tax cuts they got, they still will. In fact, thanks to the growing economy they are paying more taxes than ever. And the Bush tax cuts removed 30 million people from rolls. If TN had an income tax then each could pay according to their ability. You are paying more then the owner of the Titans and Tennessee professional footballl players who are multi-millionaries. Is that why you're angry? Guess if you had the right values you'd be a football player instead of a blogger.Blah blah blah. The Titans all pay much higher property taxes than I do. Posted by: Bill Hobbs at June 11, 2005 03:43 PM She obviously didn't pay attention in civics class but she probably learned something in political philosphy. Yeula says "each could pay according to their ability." Which Marxist also said that? Oh yeah, it was Karl Marx. Posted by: Matthew White at June 11, 2005 10:44 PMA few State CAFRs to download and circulate to all. Look at that 10 year statistical section in the back. It shows the growth. CAFRs are much smaller than Budget Reports. CAFRs are designed to show consolidated totals. Keep in mind that when you read a State CAFR, several cities in the state may show more investments; income; and wealth than State Gov Inc. shows. EXAMPLE: 1995 the Manhatten, NY METRO CAFR showed 2x that of the State of NY's CAFR holdings. Provided FYI - From: WJB Alabama: http://www.comptroller.state.al.us/cafr.htm
Alaska: http://www.state.ak.us/admin/dof/fin-afr.htm
Arizona (2000 .pdf download) AZ pulled 1994 - 1999: http://www.gao.state.az.us/financials/CAFR/CAFR2002/02-%20CAFRall.pdf http://www.gao.state.az.us/financials/CAFR/CAFR2001.pdf http://www.gao.state.az.us/financials/CAFR/CAFR00/introduction.htm
Arkansas: http://www.accessarkansas.org/dfa/accounting/cafr.html http://www.accessarkansas.org/dfa/accounting/cafr2000/ http://www.accessarkansas.org/dfa/accounting/cafr1999/ http://www.accessarkansas.org/dfa/odd/recent.html
California: http://www.sco.ca.gov/ard/cafr/cafr02.shtml http://www.sco.ca.gov/ard/cafr/cafr01.shtml http://www.sco.ca.gov/ard/cafr/cafr00.shtml http://www.sco.ca.gov/ard/cafr/cafr99.shtml http://www.sco.ca.gov/ard/cafr/cafr98.shtml
California - Cities: http://www.sco.ca.gov/ard/local/locrep/cities/9899/cities.shtml
California - Counties: http://www.sco.ca.gov/ard/local/locrep/counties/9899/index.shtml
California School Districts: http://www.sco.ca.gov/ard/local/locrep/school/98-99/index.shtml
Colorado: http://www.state.co.us/gov_dir/audit_dir/2003/2003fin/1433 CAFR PERA.pdf http://www.colorado.gov/dpa/dfp/sco/cafr/cafr96/cafr.html
Connecticut: http://www.osc.state.ct.us/2002cafr/contents.htm http://www.osc.state.ct.us/2001cafr/contents.htm http://www.osc.state.ct.us/2000cafr/contents.htm
Delaware: http://www.state.de.us/account/2002cafr/2002-cafr.html http://www.state.de.us/account/2001cafr/2001-cafr.html http://www.state.de.us/account/2000cafr/2000-cafr.html
Florida: http://www.dbf.state.fl.us/aadir/cafrlist.html (2002 - 1996 CAFRs)
Georgia: http://www2.state.ga.us/departments/audit/ppd/cafr_main.htm
Hawaii: http://www.state.hi.us/dags/cafr/index.html
Idaho: http://www.sco.state.id.us/dsa/fr.htm#99CAFR http://www.sco.state.id.us/dsa/fr.htm#98CAFR http://www.sco.state.id.us/dsa/fr.htm#97CAFR http://www.sco.state.id.us/dsa/fr.htm#96CAFR
Illinois: http://163.191.177.7/ioc-pdf/CAFR_2000.pdf http://163.191.177.7/ioc-pdf/CAFR_2001.pdf
Indiana: http://www.state.in.us/auditor/publications/2002cafr.html http://www.state.in.us/auditor/publications/2001cafr.html http://www.state.in.us/auditor/publications/2000cafr.html http://www.state.in.us/auditor/publications/1999cafr.html
Iowa: http://das.sae.iowa.gov/financial_reports/index.html
Kansas: http://da.state.ks.us/ar/finrept/cafr2002.htm http://da.state.ks.us/ar/finrept/afr2001.htm
Kentucky: http://www.state.ky.us/agencies/finance/manuals/tax/02CAFR.pdf http://www.state.ky.us/agencies/finance/manuals/tax/01CAFR.pdf http://www.state.ky.us/agencies/finance/manuals/tax/00CAFR.pdf http://www.state.ky.us/agencies/finance/manuals/tax/kcafr98.pdf http://www.state.ky.us/agencies/finance/manuals/tax/kcafr97.pdf http://www.state.ky.us/agencies/finance/manuals/tax/kcafr96.pdf
Louisiana: http://www.state.la.us/osrap/library/Publications/cafr2002beg-end.pdf http://www.state.la.us/osrap/library/Publications/cafr01.pdf http://www.state.la.us/osrap/library/Publications/cafr99.pdf http://www.state.la.us/osrap/library/Publications/cafr98d.pdf http://www.state.la.us/osrap/library/Publications/cafr97.pdf http://www.state.la.us/osrap/library/Publications/cafr96.pdf http://www.state.la.us/osrap/library/Publications/cafr95.pdf http://www.state.la.us/osrap/library/Publications/cafr94.pdf
Maine: www.maine.gov/bac/financial_reporting/2001/cafr.pdf www.maine.gov/bac/financial_reporting/2000/cafr.pdf
Maryland: http://www.marylandtaxes.com/publications/fiscalrprts/cafr-99.pdf http://www.marylandtaxes.com/publications/fiscalrprts/cafr-98.pdf
Massachusetts: http://www.state.ma.us/osc/Reports/99cafr/Intro99.htm http://www.state.ma.us/osc/Reports/98cafr/Intro98.htm http://www.state.ma.us/osc/Reports/97CAFR/Intro.htm http://www.state.ma.us/osc/Reports/96CAFR/Intro.htm http://www.state.ma.us/osc/Reports/95CAFR/Intro.htm http://www.state.ma.us/osc/Reports/94cafr/OSC/CAFR/Massfy94.htm
Michigan: http://www.michigan.gov/budget/0,1607,7-157-13406_13419-56728--,00.html [2002] http://www.michigan.gov/budget/0,1607,7-157-13406_13419-33703--,00.html http://www.michigan.gov/budget/0,1607,7-157-13406_13419-34672--,00.html [2000] http://www.michigan.gov/budget/0,1607,7-157-13406_13419-35442--,00.html [1999]
Minnesota: http://www.finance.state.mn.us/accounting/
Mississippi: http://msonline.state.ms.us/CAFR/cafr99/cafr99.htm http://msonline.state.ms.us/CAFR/cafr98/cafr98.htm http://msonline.state.ms.us/CAFR/cafr97/cafr97.htm
Missouri: http://www.dor.state.mo.us/cafr/pdffiles/CAFR2001.pdf http://www.dor.state.mo.us/cafr/pdffiles/CAFR2000.pdf
Montana: http://www.state.mt.us/doa/adm/cafr/CAFR.htm
NEVADA: http://controller.nv.gov/CAFR_pdf_files/FY02All.pdf http://controller.nv.gov/CAFR_pdf_files/FY01All.pdf http://controller.nv.gov/CAFR_pdf_files/FY00All.pdf http://controller.nv.gov/CAFR_pdf_files/FY99all.pdf
New Hampshire: http://admin.state.nh.us/accounting/00nhcafr.pdf http://admin.state.nh.us/accounting/99nhcafr.pdf http://admin.state.nh.us/accounting/98nhcafr.pdf
New Jersey: http://www.state.nj.us/treasury/omb/publications/01cafr/pdf/01cafr.pdf http://www.state.nj.us/treasury/omb/publications/00cafr/pdf/00cafr.pdf http://www.state.nj.us/treasury/omb/publications/99cafr/pdf/99cafr.pdf http://www.state.nj.us/treasury/omb/publications/98cafr/pdf/cafr.pdf
New York: http://www.osc.state.ny.us/finance/finreports/cafr02.pdf http://www.osc.state.ny.us/finance/finreports/cafr01.pdf http://www.osc.state.ny.us/finance/finreports/cafr99.pdf
North Carolina: http://www.osc.state.nc.us/financial/
North Dakota: http://www.state.nd.us/fiscal/CAFR/CAFRIndex.htm http://www.state.nd.us/rio/NDRIO/Publications/AnnualReport.pdf (2002 ND-RET)
Ohio: http://www.state.oh.us/obm/BusinessCommunityPage/Financial/CAFR/cafr02/2002cafr.pdf http://www.state.oh.us/obm/BusinessCommunityPage/Financial/CAFR/cafr01/oh01cafr.PDF http://www.state.oh.us/obm/BusinessCommunityPage/Financial/CAFR/cafr00/oh00cafr.PDF http://www.state.oh.us/obm/BusinessCommunityPage/Financial/CAFR/cafr99/oh99cafr.PDF http://www.state.oh.us/obm/BusinessCommunityPage/Financial/CAFR/cafr98/oh98cafr.PDF http://www.state.oh.us/obm/BusinessCommunityPage/Financial/CAFR/cafr97/oh97cafr.PDF http://www.state.oh.us/obm/BusinessCommunityPage/Financial/CAFR/cafr96/oh96cafr.PDF http://www.state.oh.us/obm/BusinessCommunityPage/Financial/CAFR/cafr95/oh95cafr.PDF
Oklahoma: http://www.osf.state.ok.us/cafr02.pdf http://www.osf.state.ok.us/cafr01.pdf http://www.state.ok.us/osfdocs/00cafr.pdf http://www.state.ok.us/osfdocs/cafr1-99.html http://www.state.ok.us/osfdocs/cafr1-98.html http://www.state.ok.us/osfdocs/cafr1-97.html http://www.state.ok.us/osfdocs/cafr1-96.html http://www.state.ok.us/osfdocs/cafr1-95.html http://www.state.ok.us/osfdocs/cafr1-94.html
Oregon: http://scd.das.state.or.us/DAS/SCD/SARS/docs/2003_CAFR.pdf http://scd.das.state.or.us/DAS/SCD/SARS/docs/2002_CAFR.pdf http://scd.das.state.or.us/DAS/SCD/SARS/docs/2001_CAFR.pdf http://scd.das.state.or.us/DAS/SCD/SARS/docs/2000_CAFR.pdf
Pennsylvania: http://www.oit.state.pa.us/budget/lib/budget/2000-2001/cafr/index.html PA pulled the CAFRs from public viewing on the Internet. The above link is to request a hard copy of the CAFR
South Carolina: http://www.cg.state.sc.us/cafr02/index.htm http://www.cg.state.sc.us/cafr01/index.htm http://www.cg.state.sc.us/cafr00/index.htm (For the CAFR Prior to 1999, request hard copy)
South Dakota: http://www.state.sd.us/bfm/cafr/fy01/index.htm http://www.state.sd.us/bfm/cafr/fy/00index.htm http://www.state.sd.us/bfm/cafr/fy99/index.htm http://www.state.sd.us/bfm/cafr/fy98/index.htm http://www.state.sd.us/bfm/cafr/fy97/index.htm
Tennessee: http://www.state.tn.us/finance/act/cafr.html [1997 - 2002]
Texas: http://www.window.state.tx.us/fm/pubs/cafr/
Utah: http://wwwfin.state.ut.us/reports/cafr.htm
Vermont: http://www.state.vt.us/fin/Fin%20Publications/2001cafr.pdf http://www.state.vt.us/fin/Fin%20Publications/2000cafr.pdf http://www.state.vt.us/fin/Fin%20Publications/1999cafr.pdf
Virginia: http://www.doa.state.va.us/docs/Publications/CAFR/cafr.htm
Washington: http://www.ofm.wa.gov/cafr/2002/cafr02toc.htm http://www.ofm.wa.gov/cafr/2001/cafr01toc.htm http://www.ofm.wa.gov/cafr/2000/cafr00toc.htm http://www.ofm.wa.gov/cafr/1999/cafr99toc.htm (Washington pulled all pre 1999 CAFRS)
West Virginia: http://www.state.wv.us/admin/finance/cafrgap.htm
Wisconsin: http://www.doa.state.wi.us/debf/cafr/fy01/01CAFR.HTM http://www.doa.state.wi.us/debf/cafr/fy00/00CAFR.HTM http://www.doa.state.wi.us/debf/cafr/fy99/99CAFR.HTM http://www.doa.state.wi.us/debf/cafr/fy98/98CAFR.HTM http://www.doa.state.wi.us/debf/cafr/fy97/97cafrm.htm http://www.doa.state.wi.us/debf/cafr/fy96/96cafrm.htm http://www.doa.state.wi.us/debf/cafr/fy95/95cafrm.htm
Wyoming:(look 2/3rds down page) http://sao.state.wy.us/download.htm
Posted by: Walter Burien at July 5, 2005 11:39 PM Post a comment
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