We are Change Fresno TV reveals the most important document in this country that the media, politicians, and political parties never talk about: The Comprehensive Annual Financial Report. This report states the actual financial standing of a municipality. The budget does not.
-Only 1/3 of governments' gross income is tax income
-As of 2012 there are over 184,000 individual Annual Financial Reports (the CAFR) produced by just our local government operations.Each with their own INVESTMENTS and CASH accounts.
-The composite totals of investment assets held internationally by the US government is staggering. Between local and Federal government, the total of liquid investment assets held Internationally as of 2007 was a conservative 110 TRILLION DOLLARS!!
Please check out http://www.cafr1.com/
also We are Change Fresno TV : http://www.youtube.com/wear...
CORRECTION: The total investment income for the California pension funds was 75 BILLION dollars in 2011 NOT 2012. This is only over a one year time span!
This is labeled as net investment income on pg. 235 of the California State 2011 CAFRhttp://www.sco.ca.gov/Files...