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Maine 2008 CAFR

Maine 2008 CAFR

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Published by Juan del Sur
Government started out as a "pay as you go" structure. By transforming into a corporate liability company over the decades, this gave them the ability to use "advance projections" to strip annual operating funds and create advance forward liability accounts whereby in doing so they were able to, by stealth, build numerous "wealth bases" of equity in many designated fund balances separate from the budget reports that were exclusively presented for public viewing.

When looking at the "whole picture" through the CAFR and sub investment fund reports noted per gross income, only 1/3rd is tax income whereas when you look at a budget report for the year it gives the impression per gross income that nearly 100% is tax income. Very deceptive when only one side of the coin is presented.

Budget reports are presented giving the false impression that it "is" the true financial picture and it is far from it. What is shown is primarily tax income for a "selective grouping" of accounts where tax income is collected and expended.

Compare your state's 1997 CAFR and the current CAFR to see the difference. I have included Maine's CAFR for 1997 and 2008 for research and comparison purposes.
Government started out as a "pay as you go" structure. By transforming into a corporate liability company over the decades, this gave them the ability to use "advance projections" to strip annual operating funds and create advance forward liability accounts whereby in doing so they were able to, by stealth, build numerous "wealth bases" of equity in many designated fund balances separate from the budget reports that were exclusively presented for public viewing.

When looking at the "whole picture" through the CAFR and sub investment fund reports noted per gross income, only 1/3rd is tax income whereas when you look at a budget report for the year it gives the impression per gross income that nearly 100% is tax income. Very deceptive when only one side of the coin is presented.

Budget reports are presented giving the false impression that it "is" the true financial picture and it is far from it. What is shown is primarily tax income for a "selective grouping" of accounts where tax income is collected and expended.

Compare your state's 1997 CAFR and the current CAFR to see the difference. I have included Maine's CAFR for 1997 and 2008 for research and comparison purposes.

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Published by: Juan del Sur on Jul 27, 2009
Copyright:Attribution Non-commercial

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12/03/2010

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 AINE 
 
Comprehensive Annual Financial Report For The Fiscal Year Ended June 30, 2008 
 
C
OMPREHENSIVE
 A 
NNUAL
 F
INANCIAL
EPORT
 
S
TATE OF
MAINE 
F
O
T
HE
F
ISCAL
 Y 
EA
E
NDED
J
UNE
30,
 
2008
J
OHN
E
LIAS
B
 ALDACCI
 Governor 
 YAN
L
O
 Commissioner  Department of Administrative & Financial Services
 
E
DWARD
 A.
 
 ARASS
 
State Controller 
 
Prepared by the Office of the State Controller 
 
The State of Maine Comprehensive Annual Financial Report can be made availablein alternative formats upon request, to ensure that it is accessible to people with disabilities.This notice is provided as required by Title II of the Americans with Disabilities Act of 1990.If you wish to be deleted from our mailing list, or your address has changed, please contact theOffice of the State Controller at (207)626-8420 or write to:State of MaineOffice of the State Controller Financial Reporting and Analysis Division14 State House StationAugusta, ME 04333-0014or e-mail us at:
financialreporting@maine.gov
Information relating to the State of Maine is available at the following web site:
http://www.maine.gov
This publication printed under Appropriation #010 18F 0056

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