1. A "Budget Report" is a selective funding of x accounts from x resources (set up to be primarily funded with taxation and it is for "the year")
2. An "Annual Financial Report" is the showing of "all" income:
Investment; taxation; and Enterprise, plus the "accumulated wealth over decades.
Budgets are for the year, an AFR is for it all since creation of the entity.
Could be a showing for several decades if be, for over a century.
There is a big difference between a 1-year budget and an Annual Financial Report.
A correct analogy would be:
The budget to operate your house vs. your statement of net worth.
The public has been played with the biggest shell game of selective presentation there is
allowing for massive fortunes to be made by the inside players over the last several decades
with the full symbiotic cooperation of the syndicated media,
controlled education, and BOTH main political parties...
"Every" investment fund large and small is a power base.
Where that money is invested determines what company; real-estate venture, etc., is made or broken.
Thus in line with that, never a mention of the USA 184,000 AFRs of the corresponding local governments in Canada too
... nor the many thousands of specialty investment funds they contain.
We also note gov pension funds facilitate the same power base.
Paying employee benefits from the return on the funds is an after thought for the government players.
Where the funds are invested internationally and with whom is the primary focus.
The head communists back in the 30's and 40's said they could take over America without fireing a shot.
The undercurrents of that statement were that they could depend on the greed
and opportunity of the players to accomplish that goal and it clearly did.
USA Local and Federal Collective government since 2000 brings in more gross income derived "GLOBALLY" (Investment-Tax-Enterprise)
than the entire gross income of the population of the United States.
Taxation is rammed down the public's throat (1/3rd of the gross income)
and Investment / Enterprise income (2/3rd of the gross income)
the "silence is golden" rule is strictly enforced
due to the money and wealth involved with the full symbiotic cooperation of the syndicated media;
controlled education; and both main political parties
as has applied over the last century.
Try to get your News / Political / School Representative,
any of them to make simple mention of the CAFR
as "THE" local government financial document to carefully look at,
mentioned in an open and public forum and see what happens.
TREASON: "Treason doth never prosper; what's the reason?
For if it prosper, none dare call it treason." Sir John Harrington, 1561-1612