Remember no one else is doing putting in this kind of effort to make sure everything balances. Because of that nobody will know how to defend or challenge your findings. I swear I see million dollar mistakes all the time when I review a subject and the public is slow to care. I think all that is about to change! Here is a perfect example of contradictions in data and cost for SBPD.
The 2012 Police Budget has Fiesta's expensed out at 450,000 for law enforcement coverage. Not the 180,000 in overtime reported below. Look at special events page 43 of the 2012 SBPD PDF budget file. You see the public is never told the truth. The 2012 budget file is attached to this email for your review.
Fiesta Starts Today
Posted: Aug 03, 2011 6:04 AM
The big crowds mean overtime for the Santa Barbara Police Department. It has a special Fiesta budget and will spend about $180,000.00 in overtime for the celebration.
The department is getting help from law enforcement agencies across the county. 150 to 160 officers will be on patrol from now through Sunday.
When a County or City creates a Municipal Bond they have to include their financial data such as Yearly Budgets and Pension Data. The neat thing about using the Bond market for research is that they have records that can go back over 25 years. Most County's and City's do not make financial data that old readily available to the public. Remember no one else is doing putting in this kind of effort to make sure everything balances. Because of that they will not now how to defend or challenge your findings. I swear I see million dollar mistakes all the time when I review a subject and the general public is slow to care. I think that all is about to change!
We start by going to the link below which will take us to the home page for EMMA
Home
Enter Santa Barbara California in the search box than go to the bottom of the page and accept the user terms. After you hit accept you may be brought back to the same page. Just reenter Santa Barbara California and hit on the arrow.
You will end up on anther page with tons of Santa Barbara bonds.
| SANTA BARBARA CALIF REDEV AGY TAX ALLOCATION | CENT CITY REDEV PJ-SER B | 12/01/1985 | 1987 to 2007 |
| SANTA BARBARA CALIF REDEV AGY TAX ALLOCATION | CENTRAL CITY REDEV PJ-SER A | 07/25/2001 | 2002 to 2019 |
| SANTA BARBARA CALIF REDEV AGY TAX ALLOCATION | CENTRAL CITY REDEV PROJ-SER A | 12/18/2003 | 2004 to 2019 |
| SANTA BARBARA CALIF REDEV AGY TAX ALLOCATION | HSG-CENTRAL CITY REDEV PROJ-A | 09/30/2004 | 2005 to 2018 |
| SANTA BARBARA CALIF REDEV AGY TAX ALLOCATION | REF | 01/01/1991 | 1991 to 2007 |
| SANTA BARBARA CALIF REDEV AGY TAX ALLOCATION | REF-SR-SER A-CENT CITY REDEV PROJ | 12/01/1995 | 1996 to 2008 |
| SANTA BARBARA CALIF REDEV AGY TAX ALLOCATION | REF-SUB-SER B-CENT CITY REDEV PROJ | 12/01/1995 | 1996 to 2007 |
| SANTA BARBARA CALIF REDEV AGY TAX ALLOCATION | SUB-CENT CITY REDEV PROJ | 11/01/1987 | 1990 to 2007 |
| SANTA BARBARA CALIF REDEV AGY TAX ALLOCATION | 02/01/1993 | 1994 to 2007 |
You can click on any of these and you might end up at a page with documentation like below
| 03/01/2011 | 5 | 1,975,000 | 110.679 | CENTRAL CITY REDEV PROJ-SER A |
CUSIP: 801311FV8 *
Dated Date: 12/18/2003
Maturity Date: 03/01/2011
Interest Rate: 5 %
Principal Amount At Issuance: $1,975,000
Initial Offering Price: 110.679
View the official statement, which is the most complete source of information about the securities as of the time of initial issuance.
Official Statement
Be advised that these are large files that can take several minutes to download, depending on your connection speed and the level of traffic on EMMA. You should preview the cover, if available, before downloading to ensure that this is the correct document.[Click to view; right click to save]
NOTE: Failure to review entire official statement together with all amendments may result in incomplete understanding of your security. Files can be viewed individually below but should not be read in isolation from one another.
Download Document
View Document ArchiveActually our search for Santa Barbara City Budget information starts on this page below.
| CUSIP * | Maturity Date | Interest Rate (%) | Principal Amount At Issuance ($) | Initial Offering Price (%) | Security Description * |
|---|---|---|---|---|---|
| 07/01/2012 | 4 | 865,000 | 104.72 | ARPT PROJ | |
| 07/01/2013 | 4 | 900,000 | 105.2 | ARPT PROJ | |
| 07/01/2014 | 4 | 935,000 | 104.707 | ARPT PROJ | |
| 07/01/2015 | 5 | 970,000 | 109.667 | ARPT PROJ | |
| 07/01/2016 | 4 | 1,020,000 | 103.545 | ARPT PROJ | |
| 07/01/2017 | 4 | 1,065,000 | 102.563 | ARPT PROJ | |
| 07/01/2018 | 5 | 1,105,000 | 108.962 | ARPT PROJ | |
| 07/01/2019 | 5 | 1,160,000 | 108.298 | ARPT PROJ | |
| 07/01/2029 | 5 | 8,365,000 | 99.246 | ARPT PROJ | |
| 07/01/2039 | 5 | 24,270,000 | 95.656 | ARPT PROJ | |
| 07/01/2020 | 4 | 1,220,000 | 98.678 | ARPT PROJ | |
| 07/01/2021 | 4.25 | 1,265,000 | 99.811 | ARPT PROJ | |
| 07/01/2022 | 4.375 | 1,320,000 | 99.85 | ARPT PROJ | |
| 07/01/2023 | 4.5 | 1,375,000 | 99.894 | ARPT PROJ | |
| 07/01/2024 | 5 | 1,435,000 | 102.945 | ARPT PROJ |
http://emma.msrb.org/EA282378-EA1664-EA570479.pdf Just go to this file which is 396 pages. Start looking at the Budget information around page 55. The data in this Bond offering is for 2009 and before.
Than go to this Santa Barbara City file and down load the 2009 CAFR Budget Report for 2009.
Start comparing financial data around page 30 with page 55 above. You will have to go back and forth until you find exact data matches. I have already found differences between the two.
I hope it helps !
Larry
2012 Santa Barbara Police PDF Budget file. @
http://magicinsantabarbara.files.wordpress.com/2011/08/021_sb-police-2012-budget.pdf
City of Santa Barbara 2012 CAFR @
http://magicinsantabarbara.files.wordpress.com/2011/08/2009_sb-city_cafr.pdf
2009 City of Santa Barbara Airport Bond offering @
http://magicinsantabarbara.files.wordpress.com/2011/08/sb-airport-bond-2009.pdf
S.B.C.C.C. The place where COMMON SENSE never goes out of style!
No comments:
Post a Comment