Saturday, July 28, 2012

Sound the Alarm Part 2.

California is supposed to be broke. Finding of the hidden money raises eyebrows regarding other departments within the state . Like the Department of Corrections and Education.

My last post I was somewhat showing my displeasure about how the State of California was going to raise money for two of Gov. Brown's plans to expand the Bullet train and Sending water to the south land . Each of these projects alone could cost the state over 200 billion dollars , or close estimate . Now the news is been reporting that  the stunning discovery of 2 billion  just sitting there in a California state parks bank account that not a lot of people knew about.A week after uncovering a hidden-funds scandal at the state parks department, finance officials are now trying to piece together why the balance sheets for similar "special funds" are off by $2.3 billion -- money that appeared to be right under their noses amid California's financial meltdown A blockbuster story in Friday's San Jose Mercury News may be just the tip of the ice berg. They say "billions" of dollars in state money has been found in "hundreds" of different accounts, all in addition the money found in the state parks account.The director of state parks resigned one week ago as a result of the controversy and with the Mercury News report of $2.3 billion in unaccounted money showing up in more than 500 different accounts, the state parks issue may be just a small part of a much larger situation. My question is if that's true that there is "billions" unaccounted for . My speculation is that perhaps there is more money out there sitting there in every state department for corrections to education .The scandal has been a huge embarrassment for the Brown administration, which in campaigning for a November tax initiative had argued that the state was so broke it needed to close dozens of parks.Since the parks scandal broke, no allegations have been made of other departments hiding money, but some lawmakers and others fear this could be the tip of the iceberg.The honor system does not apply to the $96 billion in general-fund revenue. The general-fund budget is the highly publicized and politicized spending plan that uses tax money to keep things like schools and prisons running. May be our state is not broke after all. I am willing to bet that there is at  least a ' Trillion' dollars sitting out there mostly unaccounted for,  hidden away with all the accounting errors.

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