Friday, January 02, 2009

Louisville's Annual Financial Report Missing in Action

Today is January 2nd and many people are beginning to ask why the city's Comprehensive Annual Financial Report (CAFR) has not yet been issued. The report is traditionally released in December. The much-anticipated report is central to the argument on transparency for Louisville government finances, with supporters of transparency stating that the CAFR would prove the mayor's accounting was way off in calculating the budget deficit. The fact that the report remains under wraps only fuels the fire. My friend Ed Springston has a blog entry on the subject today, and asks the pertinent question: Where is the CAFR?

See Ed's take HERE.

It has been long thought that the CAFR would dispel any and all rumors and innuendo about the financial condition of Louisville Metro Government. It was to be the final word on the situation, and would shed light on exactly how far "down in the hole" the city was. Is it $20 million? Is it less? Is it more? Who knows? Again, the citizens wait patiently for facts and information on the issue while government employees sit home on another furlough day.

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