State Controller's Four-Year Term Brought 25% Budget Increase and Huge Losses in the School Endowment Fund
Boise - The incumbent was elected to the office of Idaho State Controller in 2006. While serving her current four year term, the Controller’s budget has increased 25%. It had a 45% increase appropriated for 2009, but that was held back by the Governor and Legislature. This expansion of government has not brought a benefit to the citizens of Idaho.
Todd Hatfield is running for State Controller in the May 25th Republican primary. He says, “I am a conservative, both fiscally and socially. The incumbent's record shows a lack of conservative management and voting. I believe in limited government as per the Idaho Republican Party Platform.”
Instead of posting the state checkbook online for the public to review where tax dollars are all being spent – as many states around the country have done – the incumbent State Controller actually opposed legislative efforts in 2009 for needed transparency of the state’s finances. There is and has been free software available for this purpose that has been utilized by the federal government and by other states.
The State Controller holds a very important position on the Idaho Land Board. This position is a trust for the School Permanent Endowment Fund, of which 70% of revenue is derived from state timber sales. The current Controller’s record during her short term: 4,000 lost jobs in Idaho’s wood producing sector due to federal and state regulations, 14% to 24% unemployment in rural Idaho Counties and $360 million dollars of the school endowment money gambled away by the investment board in equity markets through managers such as JP Morgan and Goldman Sachs, only to be replaced with future tax dollars through bailout money.
“I have successfully led in adapting to market trends and changes in my industry. She increases her budget and has taxpayers fund her office in these tough economic times.” Mr. Hatfield continues, “I have purchased federal and state timber sales. I have actual hands on experience in the daily operations of the logging industry and therefore possess real relationships and ties to people throughout the state. She has photos of visits to saw mills.”
Todd has owned, managed and funded his own general contracting and log home building business for the past 25 years. The incumbent has received her paycheck from you, the state taxpayer, for over the past 15 years.
Todd has a thorough understanding of the administration of timber sales and the simple administrative policy change that will restore jobs, increase manufacturing, reduce unemployment and increase money for the School’s Endowment Fund. He says we must stop investing the School Endowment Fund in risky equity markets. The State Constitution mandates that this fund “remain inviolate and intact” and “shall be securely and profitably invested.” In the first quarter of 2009 the investment board had gambled away over $360 million dollars of our school money.
“It is time to stop the Idaho Land Board from being led by department heads and demand that the Land Board lead the departments. The Land board members are elected to leadership positions and must follow through in that capacity. I have a college degree in accounting and the experience to take that lead.
“I know everyone has limited money. Believe me, I know. But, I really do need your help! Please help with funds, so I can unseat the incumbent. Any amount contributed ($ 20, 50, 100, 500 to a maximum of $5,000) will be put towards printed material and radio in the last two weeks. We are very close, please help to get us over the top and begin restoring accountability to the State of Idaho. The race for the Idaho State Controller will be determined in the primaries May 25th.
Website: http://www.toddhatfield.com/ - paypal available
Todd Hatfield Campaign: Po Box 305, McCall, ID 83638
“Please forward to all you know - email and text message around the state. Vote for Todd Hatfield for State Controller on May 25th.”
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