Vote
May 25th
It's Your Money!
Transparency
I believe the State's checkbook should be put online, because a lack of transparency encourages waste. Other states have accomplished this already, and providing this access in Idaho will allow you, the people, to see how and where your money is being spent, and where savings may exist. Also, savings accounts, rainy day accounts, investment accounts and financial reports should be readily available and in an easy to read format for people to review. I believe agencies are more efficient when the public is actively involved.
Budgets
Budget cuts are something that we should never need to talk about. Budgets should not be over inflated to begin with. The objective of government has become, provide as much service each year as their financial and other resources permit, and to increase the amount of resources made available to them each year. This has lead to an expansion of departments and services that are difficult to reverse during lean years, such as now. Limiting government to a proper role and resisting the temptation to expand is necessary to allow local markets the freedom to grow in its place. As State Controller, I will strive to bring the Controller’s budget to a proper balance, and be a voice of encouragement to other departments for the same design.
Manufacturing
Goods production is the key to Idaho’s recovery.
Idaho Land Board and Jobs
The Idaho State Controller is a voting member of the Land Board. Here is where a significant opportunity exists to "jumpstart" Idaho’s economy, NOW. The Land Board oversees the Department of Lands. Current policy and philosophy is to offer larger timber sales. This favors the big timber industry. Small logging companies and sawmill operations are being eliminated from the ability to purchase timber sales. This is having a twofold effect on Idaho. First, it is reducing jobs, small businesses and the timber industry. Second, by eliminating competition to bid on timber sales, accepted bids will be lower, resulting in less funding for the School Endowment Fund (approximately 70% of the School Endowment Revenue comes from timber receipts). Idaho has an abundance of natural, renewable resources. These resources have shielded Idaho from past recessions and can again. Idaho has a Timber Stabilization Act that, if enforced, would have Idaho manufacturing a large variety of wood products. The solution is a return to offering an acceptable amount of smaller timber sales, so the Mom and Pop business can thrive. Many wood product manufacturers would be lured to Idaho, if the resource is made available. Most importantly, the School Endowment Fund, as beneficiary, would be secure for the long term, as directed by the Idaho Constitution.
School Endowment Fund Investment Board
Investing School Endowment money in equity markets is risky for the future of our schools. The Idaho State Constitution mandates that the, “school permanent endowment fund of the state shall forever remain inviolate and intact” and “shall be securely and profitably invested” What is a secure and prudent investment? In the first quarter of 2009 the fund lost 360 million dollars. Although the investment board has made back most of these losses, the returns are realized in foreign investment and through managers such as, JP Morgan, Goldman Sachs which all received bailout money, your money. Essentially, your money was lost and you paid it again with interest! This is wrong! As your State Controller, I aim to amend his investment strategy through more conservative management and keeping your money in Idaho, where it belongs.
Grazing Leases
Traditional leases for grazing should be protected. Granting such leases to special interest groups has a negative impact on the livelihoods of Idahoans and the Endowment Fund. This provides a short term benefit to the Endowment. The long term impact is when the lease comes up for renewal, the ranchers will have been run off and won’t be around to bid, resulting in lower returns to the School Endowment Fund. Members of the Land Board have seen this coming for years and have not taken action to protect the heritage of Idaho.
Todd Hatfield for Idaho State Controller
P.O Box 305 McCall, ID 83638
Tel: (208) 634-0029 Cell: (208) 630-3613