There is nothing duller than talking about accounting. Sure, for the accountants of the world it's pretty sexy stuff. But, for the average bloke, discussing generally accepted accounting principles is about as fun as watching grass grow. However, few things are more important when trying to understand how our governments spend our tax dollars.

On the day after the federal election and on the eve of a national holiday weekend, the Saskatchewan government released its financial statements for fiscal year 2003-04. As much as the government says otherwise, there is little in this years' financial statements to cheer about. In fact, it's a crying shame.

Last year the province added $147 million to the provincial debt, which is now approaching $9.3 billion. Well, our provincial debt is $9.3 billion if you still believe government half-truths. If you add in more than $4 billion in pension liabilities and the $2.4 billion net debt of the crowns (as the provincial auditor does in his summary financial statements) the province's debt balloons to $14.5 billion. A very convenient omission don't you think

Our provincial debt rose by $147 million, yet on the government web site they boast a "10th consecutive balanced budget."

So let me get this straight, Finance Minister Van Mulligen. You mean to say that our debt increased but the budget was nonetheless balanced What colour is the sky in your world

And then there is the little matter of the province's Fiscal Stabilization Fund (FSF, AKA, FICTIONAL stabilization fund). The FSF is the biggest scam running. The government sees it as a "rainy day fund" but it is nothing of the sort. The fiscal stabilization fund is an accounting illusion. The government takes cash advances from the FSF (which has no cash) to "balance" the budget and then records that withdrawal as revenue. It's a farce. This phony accounting trick needs to be forever abolished.

And don't take the Canadian Taxpayers Federation's word for it, Provincial Auditor Fred Wendel has been calling attention to this problem for years, to no avail.

Imagine if you went to a loan officer for a house mortgage and happened to forget to mention on your application form that you had another mortgage outstanding, and hid the fact that your debt had increased by 14 per cent over the last three years.

At best you'd be laughed out of the bank. At worst, you would be charged with fraud.

Yet this is what our provincial government has done to taxpayers for the last three years with impunity. Mr. Van Mulligen's claims of a "10th consecutive balanced budget" are patently false.

It's time our government came clean with the people who elected them and admit that our debt has increased by $1.2 billion since 2001. They need to admit that they have spent more than they earned, and that's why they raised our taxes in this years' budget. Is that too much to ask from our elected officials

Admitting you have a problem is the first step toward solving it.