EL SEGUNDO HERALD April 27, 2017 Page 15 Ballmer’s from page 2 good. What he didn’t want was to duplicate government-funded services. Specifically, he researched governmentfunded activities in health, education and human services, and quickly hit a wall. Information about how much the government spends taxpayer money wasn’t being shared across federal, state and local levels. When the former chief executive of the world’s largest software company Microsoft can’t find data on the Internet, there is an information gap. His discovery led Ballmer to create USAFacts. org, which he launched last week. The website team is “passionate about making information available to the public.” Calling it a work-in-progress, the beta version of the site released on April 18 is ambitious in its scope. And there’s no political bent. The government numbers and colorful charts tell the stories of American government activities, huge and complex as they are. Ballmer’s team culled as much information as time and manpower allowed: 90,000 jurisdictions serving 320 million people. To be exact: 321,418,820 at last count. “Whether government money is spent wisely or not, whether our quality of life is improving or getting worse--that’s for you to decide,” Ballmer’s team says. The nonpartisan tone of the website is refreshing, as polarizing political viewpoints have no place in Ballmer’s new project. In fact, he admits that his perception of “government bureaucracy” is different, knowing almost 24 million work in government. “People who work in schools, higher ed, public institutions of education--they are government employees,” he realized. Those sectors alone account for nearly half of the 24 million jobs. The other big contributors to government employment are active-duty military and government hospitals, Ballmer learned. No longer faceless bureaucrats, the government workforce looks much different because “most of these people you like,” Ballmer says. “Your tax dollars are helping somehow to pay 24 million people” who have mortgages, car payments and families to feed. How much money does state and federal government collect per year? The number is $5.2 trillion, mostly from tax collection, according to USAFacts. Interestingly, the government also makes money on investments and runs several profitable businesses. State-run enterprises turn a profit on airports, public hospitals, transit systems and wastemanagement operations. States that run a lottery lose money on that form of gaming and on gas and electric utilities. Ports, toll highways and parking lots break even, generating enough revenue to cover state expenses, according to USAFacts. The federally-run business that weighs most heavily on Washington’s balance sheet is the U.S. Postal Service. The nation’s letter and package carrier didn’t always lose money. The losses began in 2013 and have continued due to increased competition for package delivery and lower sales of stamps and postage. The Postal Service posted a staggering $1.6 billion loss in 2015, the website shows. Marriages, the nation’s divorce rate and average family size are all listed here. And that’s not all. Having run Microsoft and now the L.A. Clippers, Ballmer says he likes reading reports that summarize facts and figures into a simplified narrative. How are we doing financially? Are we meeting our goals? Were our projections right? U.S. corporations must explain their finances and performance in an annual report called a 10-K, prepared for the Securities and Exchange Commission. Ballmer’s website team has done the same, compiling an annual report about U.S. government performance and salaries. The president’s salary of $400,000 per year isn’t a secret, but how much does the vice president earn annually? The answer is $237,700, making the veep the third-highest paid executive in Washington. Chief Justice John Roberts is second at $260,700, according to USA Fact’s 10-K. Which state’s governor had the highest salary last year? California finished third in this spending category, behind top-ranked Pennsylvania ($190,000) and Tennessee ($187,000). Being the top elected official in the state doesn’t always translate into buck bucks, not for the governors of Arizona, Colorado, Kansas, Maine and Oregon who earn less than $100,000 per year for their official duties. With the South Bay’s reliance on space systems and defense, the categories that Ballmer labels “Provide for the Common Defense” and “Promote the General Welfare” include columns for the nation’s spending on its military ($812 billion) and space programs $16.6 billion). States outspend the federal government by a nearly four-to-one ratio in support of the economy and on roads and bridges and other essential infrastructure. The California Legislature just passed a $53 billion road repair plan for fixing local roads and state-maintained highways in South Bay cities and Los Angeles County and elsewhere over the next decade. Those repairs will be financed by higher fuel taxes paid by motorists and businesses, and vehicle registration fees. The bill, SB 1, also charges electric-vehicle owners a new annual fee. The billionaire sports owner says he’s not trying to change anyone’s mind about the role of government either. His mission is to keep connecting reams of spending and revenue data from across America’s villages, towns, cities, counties and states, plus the federal government. • Finance 6 Tips For Decoding College Financial Aid Award Letters (BPT) - Whether you’re a high school senior or an adult looking to change careers, a college degree can be the key to a bright future. As acceptance letters arrive in the mail, another important document is not far behind: financial aid letters. “College is a major investment, and many people require financial assistance to pay for it,” says Harlan Cohen, New York Times best-selling author and creator of the Naked Financial Minute. “It’s vital to understand financial aid so you can make informed choices and avoid surprises in the future.” The average cost of tuition and fees for the 2016-2017 school year is $33,480 at private colleges, $9,650 for state residents at public colleges, and $24,930 for out-ofstate residents attending public universities, according to the College Board. In order to find out what aid you qualify for, you should start by filing your Free Application for Federal Student Aid (FAFSA). After your information is processed, and you’ve applied to the colleges of your choice, you’ll receive financial aid award letters in the mail with the results from each school where you were accepted. Not all financial aid letters are the same, so deciphering and comparing them can be confusing. To help get you started, the experts at College Ave Student Loans share tips and tricks for how to easily understand your financial aid letter. Know the difference between gift aid and loans: Gift aid is money that is awarded to qualifying students that isn’t expected to be paid back. Gift aid includes things like scholarships, grants, and housing or tuition waivers. Not all applicants will qualify for gift aid, but most will be eligible for federal loans. As a general rule, you should expect that you’ll need to pay loans back, usually with interest. Be aware of the impact of outside scholarships: If a student is awarded a private scholarship, the financial aid letter may list its effect on the amount of money offered by the school or in federal aid because the student’s financial need has already been partially covered. This could impact gift aid, loan amounts, or both. Keep an eye out for work-study offers: If you indicated an interest during the FAFSA application, your financial aid letter may list approval for a work-study job that provides money toward your studies and fits with your class schedule. The money you earn is typically applied directly to your school expenses. Understand your expected family contribution (EFC): Depending on your personal circumstances, there may be a line item for expected family contribution. This is the amount of money your family is expected to contribute toward your college education based on their tax and savings information. This will impact your overall award package. Think about additional costs: Your financial aid letter may not include all of the costs associated with going to school. Think beyond tuition and make sure you have an idea of what you’ll be spending on housing, food, transportation, books, supplies, additional fees, and other living expenses. Finally, if you’re still unclear about the terms and conditions of any college award letter, it’s important to reach out to the school to ask for clarification or discuss your options. You don’t want to leave any money on the table. •
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