The Case of the Disappearing/Reappearing Balanced Budget
Many of you may recall that during my campaign for Fullerton City Council I wrote an Open Letter to Jennifer Fitzgerald. I’d like to revisit the issue of Mrs. Fitzgerald’s oft-repeated myth of a balanced budget.
On her website as well as on campaign literature she made the point that our budget is balanced. I offer as evidence a screen-grab from her campaign website from 22 October 2016;
I won’t re-litigate the whole letter here but suffice it to say I wasn’t happy about her Public Relations spin on our overspending by at least 43 Million Dollars during her tenure.
I’m bringing this all up due to agenda item #2 from last night’s Council Meeting. The council voted 5-0 to receive and file the Comprehensive Annual Financial Report (CAFR) for the fiscal year ending 30 June 2016. Inside the CAFR was one little nugget really stood out to me when reading the report.
Let’s see if you can spot it; (more…)