I came across the California State Auditors Statement of Securities Accountability of the State Treasurer's Office dated December 31, 2009. July 2010 numbers are reported here. Looks like there is a lot of revenue that I am not seeing when it comes to the budget. I don't understand much about these funds but, I wondered about a specific program being run by the State - The State Auto Insurance Program.

http://www.ebudget.ca.gov/pdf/BudgetSummary/SummaryCharts.pdf

Most insurance companies make a whole lot of money so, what is California not reporting to the taxpayer?

http://www.bsa.ca.gov/pdfs/reports/2010-008.pdf

I see securities and know that much of the revenue that is generated through investment should benefit the whole State. The Department of Insurance is showing $6,766,997,368.00

Is this profit that the State has made over time from the State run insurance program?

I know that there are a lot of programs that are funded through Federal dollars. I don't see those being used in the budget for services either.

Does anyone know if the State is reporting all the revenue that is available when creating their budget? I am not sure how the revenue reporting in the budget does not reflect this. If you have the answers to my questions, feel free to contact me.

Here is the Governors Revenue Estimates provided by the Controller:

http://www.ebudget.ca.gov/pdf/BudgetSummary/RevenueEstimates.pdf


Thanks for your Assistance in the reconciliation of these questions.

http://www.ebudget.ca.gov/BudgetSummary/BSS
http://www.bsa.ca.gov/

Tags: Insurance Profits California Unreported