|The Untucked Taxman|
Martin also supplied the research I used to write an article about Sierra Madre's CalPERS pension debt. Ironic when you consider that he has now been running around town singing a completely different tune into the pickled pink ears of Measure UUT supporters here. But then again, politics does make for strange bedfellows, and the sight of Mr. Truitt sidling up to some of Sierra Madre's most gullible and misinformed residents and telling them that Measure UUT is necessary to help rescue Sierra Madre's Water Department, the Library, or its feckless deserting Police Department, is amusing. You have to wonder if perhaps he has been politically channelling the equally pliable H. Susan Henderson (link). With a generous side helping of Elaine Aguilar, of course.
Here are two emails Martin Truitt sent my way that should give you the full flavor and depth of the man's cynicism. This first one deals with what he then saw as some of the consequences of Measure UUT going down, and was sent to me last December 22nd.
There you go. Shut down utility tax increases, dump the SMPD, bring on the Sheriffs and stop the ever increasing cop pension debt that is strangling Sierra Madre to death, and only then raise taxes. But just for the express purpose of actually fixing infrastructure. Something that previous tax increases were not used to accomplish. It would be the same with Measure UUT.
Makes a lot sense to me, though again I doubt this is the kind of information Martin is currently sharing with Mayor Capoccia, Chief Giannone, the Womans Club or, for that matter, the rather colorful Dr. Emerson.
Here is Martin Truitt's December assessment of the upcoming City Council election in Sierra Madre.
Perhaps Mayor Capoccia and Councilmember Johnny Process are using some of their richly endowed campaign war chests to pay for the political expertise of the celebrated Pasadena campaign manager Martin Truitt? I have heard that he does not come cheap. Loose lips and all.
On December 12 of last year I posted an article here called "CalPERS/GASB Debt Numbers and Facts: Sierra Madre, Arcadia and Pasadena" (link). The research for this article was provided to me by Martin Truitt, and the information he provided was both shocking and discouraging. It is also quite different from what he its now saying as the political consultant to the Yes On Measure UUT campaign.
Here is some of the product of our collaboration.
We've been writing on and off this week about the big news that cities such as Sierra Madre, Arcadia and Pasadena will soon have to put their unfunded pension obligations and debt data on all of their official yearly accounting paperwork. Some real and very significant transparency for a change, and on an extremely controversial and costly topic.
Cities will no longer be able to hide their financial mischief and unfunded pension obligations in the basement anymore. Those days are now forever gone. To put it in other more official sounding terms, under Governmental Accounting Standards Board No. 68 (GASB), government agencies will soon be required to record a “net pension liability” on all of their balance sheets. Right out there in the open where everybody who cares to can check it out.
These amounts must be disclosed on financial statements issued on or after June 30, 2015. Many local governments have a June 30 year end. Those financials are typically issued in December or January. So by next month the rapidly approaching insolvencies caused by the stupidity of politicians and the greed of public employees will be there for all to see.
The good news here is that for the first time ever Sierra Madre's vast "net pension liability" has actually been included in a city financial report. Per California's new laws on this stuff. We will be reporting on that soon.
But just in case you can't wait, here are some figures that were first provided to me by "Yes On Measure UUT" campaign manager Martin Truitt. Back when he was thinking differently.
Sierra Madre, in case you are concerned, is rapidly approaching technical insolvency. And the main driver of this financial clown car to hell is CalPERS pension debt. $9 million dollars of it. And while it is to the credit of Martin Truitt that he helped reveal this information here on The Tattler, it isn't what he is saying now in his role as the political muscle behind Measure UUT.
Not that anyone should ever be surprised.
Tonight's City Council Meeting
Apparently the City Council will happily authorize the spending of $400,000 in reserve cash to fund overnight LASD patrols of the streets of Sierra Madre. Necessary because half of the SMPD deserted the people of Sierra Madre. Even those ditzy darlings who love them.
This is being done to buy Chief Giannone some time to replace those fickle fleeing flatfeet. But if he can't get that done as quickly as the City Council hopes, that spend could go as high as $1.2 million. Just so you know. Not bad for a city whose leadership keeps telling the good people of Sierra Madre that yes, they have no bananas.
Of course, the City Council could cut to the chase and hire the Los Angeles Sheriff's Department on a full-time basis, and right now. In the process saving the taxpayers of Sierra Madre as much as $2 million dollars.
But it would make too much sense. And besides, the Mayor's dozen or so email pen pals would probably be very upset. Better to just raise taxes and spend like there is no tomorrow. Because with the likes of John "The Great Tax Fighter" Capoccia and his confidante City Manager Aguilar running the show, there probably isn't.