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Location: Nashville, Tennessee, United States

5/30/2002

Tennessee's $4.7 billion surplus
Tennessee is sitting on $4.7 billion while its governor claims there is a "deficit." The real problem: a rinky dink budget process that doesn't take into account unspent funds from the previous year but lets them accumulate year after year while legislators and the governor return to taxpayers for more taxes time and time again.

So says Gerald R. Klatt in this impressive report. So who is Gerald Klatt? For one, he's a retired U.S. Air Force lieutenant colonel. He's also a former auditor and commander of the Air Force Audit Agency, a Certified Cost Analyst with the Institute of Cost Analysis, a former federal government accountant, and a member of the Association of Government Accountants and the American Society of Military Comptrollers. In other words, he knows his stuff.

Thanks to Gail Keasling for the link to his fine work.