Tuesday, May 1, 2012
Comprehensive Annual Financial Report just released
Mt. Lebanon just released its Comprehensive Annual Financial Report (CAFR) for the year ending 2011. The 159 page document can be found here in PDF format and 2011 Comprehensive Annual Financial Report - CAFR (Flipbook Format). I hope our commissioners take the time to review this.
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Anyone ever look into this yet?
On the page regarding pensions it looks like we have some risk with investments in interest rate swaps.
That should scare the hell out of all of us.
Interest Rate Swaps have bankrupted MANY municipalities and school districts and have resulted in numerous lawsuits.
Let's hope our pension investment board did their homework on these.
There are numerous articles like this one out there:
Bloomberg Article on Jefferson County!
Albert Brenneman
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