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Oxnard CPA explains the why and how of municipal debt

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It’s Your Backyard Ventura County Column By Lawrence P. Stein Larry Stein, CPA and former Oxnard Mayoral candidate, explains debt rationale, mechanics and some pitfalls of municipal finance,using examples from Oxnard, CA Introduction Most people understand the concept of debt- they have it. Government debt, in particular municipal debt, has some variations to consumer debt. Debt occurs when the borrower […]

Tags:  Bonds, CA, cash flow, CPA, debt, Lawrence P. Stein, municipal finance, Oxnard


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    • desertspeaks

      Every time someone talks about municipalities and debt, they inevitably FAIL to EVER talk about CAFR’s = comprehensive annual financial report.. AKA the second set of books that EVERY SINGLE GOVERNMENT/GOVT AGENCY/STATE/COUNTY/CITY/DISTRICT/etc keeps..
      It’s a SLUSH FUND that they don’t like to talk about.. it is estimated that combined, in the US, IF all municipal cafr accounts were combined it would total an easy 12 trillion dollars.. DID THEY TELL YOU THAT???? NOPE!

      So the next time your State, county, city, district, etc. cries poverty.. call them, “it may take a while to locate the right person” and ask them where you can find their CAFR account.. 99% are online but they are rarely easy to find and very rarely if ever directly linked to the agency website!

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