Commentary
No one has a precise crystal ball, but they do have access to information that may provide insights into what is on the economic horizon. Respected economists are predicting a recession for 2023. Although the severity is not clear, one should anticipate a downturn.
When it comes to analyzing companies to acquire, the “Oracle of Omaha,” Warren Buffett, looks at the balance sheet. Strong assets and minimal liabilities make for a worthwhile acquisition.
Until recently, the balance sheets of your city have been close to fraudulent. The Government Accounting Standards Board (GASB) has only recently required municipalities to include the unfunded liabilities from their defined benefit pension plans and retiree medical promises, also known as Other Post-Employment Benefits (OPEB)….