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2016 and Earlier
In Case You Missed It... Dan Walters: California pension debts revealed
March 17, 2016
Sacramento Bee March 16, 2016 [Excerpts] "Thanks to new accounting standards, California’s state and local governments are being forced to acknowledge tens of billions of dollars in previously obscure debt for unfunded pension liabilities. "The Governmental Accounting Standards Board says that “...
BREAKING NEWS: New Audit Shows Huge Waste, Infefficiency at Caltrans
March 17, 2016
According to a new audit by the California State Auditor, Caltrans’ road maintenance operations are fraught with waste, abuse, and basic fiscal malpractice. “The audit basically found that Caltrans doesn’t even track how it spends maintenance money,” said Senator John Moorlach (R-Costa Mesa). “This...
With California's Government Hundreds of Billions in the RED, Senator Moorlach Introduces Bill To Give Voters Access to State's Balance Sheet
March 14, 2016
Facing unfunded pension and retiree medical liabilities of $220 billion or more, California has the highest debt total of all the 50 states, yet voters are asked every election to approve even more bonded debt and to vote for candidates with varying philosophies for state spending and debt.
PENSION UPDATE: Kern, San Diego, Riverside & Other Counties Join "Billion Dollar Club"
March 8, 2016
The financial carnage continues as more local governments report their Fiscal Year 2015 balance sheets under the new rules, which requires them to account for defined benefit public employee pension "unfunded actuarial acrued liabilities" (UAALs).
BREAKING NEWS: Pension Debt Swamps L.A. County Balance Sheet
March 3, 2016
GASB ("GAZ-bee") and CAFR ("CAF-er") are two of 2016's most important acronyms. That's because the Governmental Accounting Standards Board (GASB) mandated that, beginning this year, governments must report unfunded public employee pension liabilities on their audited balance sheets in their Comprehensive Annual Financial Reports (CAFR).
Senator Moorlach Announces Bill to Make Mental Health Funds More Flexible, Efficient
February 26, 2016
At a news conference today at St. Joseph’s Hospital in Orange, California, State Senator John Moorlach (R-Costa Mesa) announced that he has authored Senate Bill 1273, which will give the County greater flexibility over use of Mental Health Services Act funds.
Pensions drowning California and its cities
January 25, 2016
As the result of years of discussions over how best to account for the growing unfunded liabilities owed by government pensions systems, municipalities for the first time ever must include the unfunded actuarial accrued liability of their defined-benefit pension plans in their annual financial reports.
Statement from Senator Moorlach on Governor's 2016 State of the State Address
January 21, 2016
Senator John Moorlach (R-Costa Mesa) released the following statement today regarding Governor Jerry Brown’s 2016 State of the State address:
Primer for Governor Brown's State of the State
January 20, 2016
Evaluating our state's condition requires checking vital signs and determining where our efforts are needed most. Here are 5 key metrics and resulting questions the Governor should address about the state of our state: For the past 11 years, CEOs have rated CA as the worst state in which to do...
Governor's Budget: Early Battle Lines on Taxes
January 8, 2016
Yesterday, Governor Jerry Brown released his 2016-17 budget proposal to the legislature, and in that budget he anticipates approximately $7.6 billion in new spending over the previous year’s approved budget. The fact that we have increased revenues to the state should be good news for California taxpayers, as the additional funds should take away any pressure to raise taxes. But, that’s not how Sacramento logic works.
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