How to use Wall Street and the Bond Market to compare City or County Financial Data

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 general public is slow to care. I think that all 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.

 How to use Wall Street and the Bond Market to compare City or County Financial Data

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

MUNI SEARCH
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.
Accept
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 <no issue name> 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 Archive

Enlarge Cover

Preview

Actually our search for Santa Barbara City Budget information starts on this page below.
Displaying 15 maturities. |
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
Here are the three attachments I refer to in this posting.
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About magicinsantabarbara

Our Santa Barbara Criminal and Civil Superior Courts often abuse’s us with illegal and unjust judgments and convictions. So I investigate, law enforcement, judge’s, elected officials and our California Public Pensions trying to expose the corruption we are being forced to accept. We must always respect and support those who practice the law in an even and ethical manner and demand it from those who do not. Here you can find data for SBCERS, VECRA, LACERA .pensions as well as others.
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