By Robert Montoya, includes “… Truth in Accounting found all 75 cities have balanced budget requirements, but that doesn’t necessarily mean they have balanced budgets… It goes on to list ‘accounting tricks’ used to give the appearance a budget is balanced, such as ‘inflating revenue assumptions, counting borrowed money as income, understating the true costs of government, and delaying the payment of current bills until the start of the next fiscal year so they aren’t included in the calculations.’ …”
Read the full article on: Texas Scorecard