Archive for the ‘ Budget ’ Category

The Sun: San Bernardino council members to receive first pay raise in 63 years

By Brian Whitehead | bwhitehead@scng.com | San Bernardino Sun
Published: September 20, 2018 at 10:43 am | Updated: September 21, 2018 at 12:04 am

For the first time in 63 years, San Bernardino council members will receive a pay raise. The City Council on Wednesday, Sept. 19, approved increasing city leaders’ salaries from $600 to $14,000 a year beginning next year, aligning their total annual compensation package with those offered in neighboring cities.

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Proponents of the Los Angeles-to-San Francisco high-speed rail line hope that erecting part of the line now will make future governors less likely to abandon the project. A viaduct in Fresno, Calif., is intended to carry the line over a freeway. (Credit: Jim Wilson/The New York Times)

By Adam Nagourney
July 30, 2018

  • In the face of sharp opposition and questions about how to pay for it, construction of California’s high-speed rail line is roaring ahead.

FRESNO, Calif. — It is vigorously opposed by Republicans, including President Trump. It has been plagued by escalating costs and delays. Californians are mostly against it. And a central question — how is it going to be paid for — remains unresolved.

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Bloomberg: California’s Brown Says Cities on Their Own as Pension Tab Rises

By Romy Varghese
May 14, 2018 – 8:30 AM PDT

  • Governor says it’s not up to the state to help localities
  • California lawmakers passed pension overhaul in 2012

As California’s cities flounder under the rising cost of public pensions, they shouldn’t expect the state to extend a hand.

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CALmatters: Bullet train colliding with reality


By Dan Walters | April 11, 2018 | Commentary

Reality may finally be catching up with the vision – or pipedream – of a 200-mile-per-hour train connecting California’s northern and southern regions.

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Associated Press: California bullet train costs soar to $77B; opening delayed

By Kathleen Ronayne and Jonathan J. Cooper
Associated Press
Mar 9, 6:35 PM EST

SACRAMENTO, Calif. (AP) — The projected cost of California’s bullet train between San Francisco and Los Angeles has jumped to $77 billion and the completion date has been pushed back four years to 2033, according to a business plan released Friday.

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CALmatters: Commentary: California’s public pension crisis in a nutshell

By Dan Walters | Feb. 21, 2018 | Commentary

The essence of California’s pension crisis was on display last week when the California Public Employees Retirement System made a relatively small change in its amortization policy.

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State income tax revenues for January totaled $16.34 billion, which was $2.53 billion higher than expected.

By Kathleen Pender
Published: February 13, 2018
Updated: February 13, 2018 – 4:00pm

California’s tax revenues far exceeded expectations in January for the second consecutive month, but it remains to be seen how much of the excess reflects underlying strength in the economy, versus people speeding up their 2017 state income tax payments while they were still fully deductible on federal tax returns.

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Calpensions: When do CalPERS rates become ‘unsustainable’?

By Ed Mendel
Monday, February 12, 2018

The use of the word “unsustainable” had a distant echo this month as the League of California Cities issued a study of CalPERS rates, a move to get stronger local options for controlling rising pension costs.

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By Liset Marquez | lmarquez@scng.com | Inland Valley Daily Bulletin
February 7, 2018 at 4:51 pm

Ontario-Montclair School District is facing a $5.5 million deficit for the 2018-19 school year due to declining enrollment and increasing retirement obligations.

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By Dan Walters | Feb. 4, 2018 | Commentary

From one end of California to the other, hundreds of cities are facing a tsunami of pension costs that officials say is forcing them to reduce vital services and could drive some—perhaps many—into functional insolvency or even bankruptcy.

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By Adam Ashton
aashton@sacbee.com
February 01, 2018 – 12:01 AM

California’s swelling budget reserves are approaching a point where the state by law can’t save any more money ‑ but don’t expect a tax rebate.

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CALmatters: Commentary: Jerry Brown’s two big public-works projects are foundering

By Dan Walters | Jan. 29, 2018 | Commentary

During his second governorship, Jerry Brown has frequently touted big public-works projects as the mark of a great society—a marked change from his first stint four decades ago, when “small is beautiful” and “lower your expectations” were his oft-voiced themes.

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One of the elevated sections of the high-speed rail line under construction in Fresno. (Rich Pedroncelli / AP)
By Ralph Vartabedian
Jan 21, 2018 | 4:00 AM

Massive cost overruns threaten to derail the bullet train. Here’s what has to change

Only two years ago, the California rail authority unveiled an ambitious plan to begin operating a segment of bullet train service between San Jose and the Central Valley by 2025. It would take nearly every penny in its checkbook, but the rail authority assured the public it would work.

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By Jeff Horseman | jhorseman@scng.com | The Press-Enterprise
Published: January 8, 2018 at 4:19 pm | Updated: January 9, 2018 at 6:06 am

Riverside County’s $161 million savings could plummet to $8 million if costs aren’t cut, according to a new county staff report.

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InlandPolitics: County reverses salary advancement concessions for management

Sunday, January 7, 2018 – 1:00 a.m.

A Great Recession give-back forced upon San Bernardino County employees will no longer apply to the county’s highest paid management employees, if county supervisors approve revisions to what is known as the exempt compensation plan on Tuesday.

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InlandPolitics: San Bernardino County cash reserves north of $400 million

Tuesday, January 2, 2018 – 12:00 a.m.

San Bernardino County, California is sporting a healthy budget reserve in its current fiscal year.

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InlandPolitics: S.B. County pension system deficit climbs in latest report

Tuesday, December 19, 2017 – 11:30 p.m.

It’s a not so Merry Christmas for the San Bernardino County, California pension system, which took another hit in its latest fiscal year.

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The State Worker
Chronicling civil-service life for California state workers
By Adam Ashton
aashton@sacbee.com
November 22, 2017 – 09:48 AM

Gov. Jerry Brown got most of what he wanted when he carried a proposal to shore up the state’s underfunded public employee pension plans by trimming benefits for new workers.

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The Sacramento Bee: Growing retirement costs are hitting new state budget hard

By Dan Walters
dwalters@sacbee.com
May 28, 2017 – 12:01 AM

California’s rapidly growing public employee retirement costs weigh heavily on the 2017-18 state budget now being fashioned, but their impact is only partially revealed in budget documents.

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Associated Press: $400 billion price tag for California single-payer bill

 

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AP Nation / World
By JONATHAN J. COOPER
Associated Press
May 22, 2017 – 7:05 PM EDT

SACRAMENTO, Calif. (AP) — A California bill that would eliminate health insurance companies and provide government-funded health coverage for everyone in the state would cost $400 billion and require significant tax increases, legislative analysts said Monday.

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The San Francisco Chronicle: Closer look at $175 million UC hid from the public

UC President Janet Napolitano reads her statement concerning the audit conducted Elaine Howle (right), state auditor. (Photo: Rich Pedroncelli, Associated Press)

By Nanette Asimov and Melody Gutierrez
May 14, 2017

News that thousands of students at the University of California often go hungry because they can’t afford meals prompted a generous promise last summer from UC President Janet Napolitano: $3.3 million for more food pantries and other ways of feeding the young scholars.

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Capitol Alert
By Jim Miller and Christopher Cadelago
jmiller@sacbee.com
May 11, 2017 – 10:45 AM

California Gov. Jerry Brown released a revised, $180 billion budget proposal Thursday that closely mirrors his January plan, maintaining a cautious approach amid uncertainty about the direction of the economy and possible federal actions that could hurt the state’s bottom line.

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Observations on California and its politics
By Dan Walters
dwalters@sacbee.com
May 08, 2017 – 2:07 PM

Democratic legislators have counted on a revenue surge to persuade Gov. Jerry Brown to loosen up on spending – but just the opposite is occurring.

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Observations on California and its politics
By Dan Walters
dwalters@sacbee.com
May 02, 2017 – 5:10 PM

Throughout California, local government and school district officials are writing new budgets and confronting rapidly rising costs of pensions.

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California budget
John Myers
April 28, 2017 – 4:07 p.m.

California’s most important month for collecting income taxes could end some $600 million short of official projections, based on preliminary data collected Friday.

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The Sun: State audit questions pay, priorities of the Cal State University system

By Mark Muckenfuss, The Press-Enterprise
Posted: 04/21/17 – 8:08 PM PDT |

Just a year ago, the faculty of California State University was ready to walk.

After months of stalled negotiations, the California Faculty Association and its members had already planned for a weeklong work stoppage when Chancellor Timothy White stepped into the process, cut a last-minute deal and kept the system’s classrooms open.

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By Dale Kasler
dkasler@sacbee.com
April 15, 2017

Blowing past state officials’ financial projections, three construction contractors submitted bids for the Oroville Dam repairs that begin at $275 million, the Department of Water Resources said Saturday.

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By Jeff Horseman | jhorseman@scng.com | The Press-Enterprise
Published: April 10, 2017 at 2:47 pm |
Updated:   April 11, 2017  at 10:13 am

Cutting 11 jobs and changing the staffing mix on fire engines are two ideas Riverside County supervisors will consider as they try to close an $11.9 million shortfall in the Fire Department’s budget for next fiscal year.

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Los Angeles Times: Trump budget would reignite California’s financial strains

Protesters rally in 2013 against cuts to Medi-Cal. (Rich Pedroncelli / Associated Press)

Evan Halper and Sarah D. Wire
March 16, 2016

President Trump’s budget would deliver a painful financial blow to California, with the potential to push a state that has struggled for years to keep its books balanced back into the kind of red ink that consumed it after the housing market collapse a decade ago.

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The Sacramento Bee: Bullet train suffers two big setbacks that could be fatal

By Dan Walters
dwalters@sacbee.com
March 2, 2017 – 3:59 PM

Late Wednesday, the California High-Speed Rail Authority dispatched a report to the Legislature, crowing about progress in building a statewide bullet train system.

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Reuters: Trump budget plan boosts Pentagon, trims State Dept, EPA: officials

Sun Feb 26, 2017 | 10:11 pm EST

The White House will send federal departments a budget proposal on Monday containing the defense spending increase President Donald Trump promised, financed partly by cuts to the U.S. State Department, Environmental Protection Agency and other non-defense programs, two officials familiar with the proposal said.

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The Sacramento Bee: Once again, poll finds voters are ignorant on budget

By Dan Walters
dwalters@sacbee.com
February 19, 2017 – 4:00 PM

It’s been said that ignorance is bliss.

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The Sacramento Bee: Trump threatens to defund ‘out of control’ California

In this Jan. 26, 2017 file photo, President Donald Trump speaks at the Republican congressional retreat in Philadelphia. . (AP Photo/Matt Rourke File)

Politics & Government
By Sean Cockerham
scockerham@mcclatchydc.com
February 5, 2017 – 5:17 PM

Washington —

President Donald Trump is threatening to withhold federal funds from “out of control” California if the state declares itself a sanctuary state.

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John Myers
February 5, 2017

During the depths of California’s budget crisis, talk in Sacramento about how many tax dollars were sent to Washington, compared with what the state received in services, generally sparked anger. But these days, it’s triggered fear.

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The Sacramento Bee: Jerry Brown, legislators headed for budget clash?

By Dan Walters
dwalters@sacbee.com
February 2, 2017 – 4:52 PM

State budgets have been easy-peasy political exercises in recent years, thanks to hefty increases in revenue from an expanding economy.

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The Sacramento Bee: Acknowledging lower returns, CalSTRS drops investment forecast

Business & Real Estate
By Adam Ashton
aashton@sacbee.com
February 1, 2017 – 5:50 PM

The fund that manages pensions for California teachers on Wednesday voted to lower its investment forecast by half a percentage point, a decision that will have many educators stepping up their payroll contributions for their retirement plans by several hundred dollars a year.

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Capitol Alert
By Jim Miller
jmiller@sacbee.com
January 25, 2017 – 1:52 PM

California faces a $76.67 billion cost to provide healthcare and dental benefits to retired state employees, state Controller Betty Yee reported Wednesday, an increase of $2.49 billion over the previous year’s estimate.

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The Public Eye
By Brad Branan
bbranan@sacbee.com
January 21, 2017 – 1:17 PM

In South Lake Tahoe, roads are crumbling, and the city is struggling to find ways to repair years of damage caused by harsh weather and snowplows. Orangevale residents worry that fire crews won’t arrive quickly enough in an emergency after their local fire station was closed during the recession.

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Calpensions: State pension costs doubled after rate increases

By Ed Mendel
Monday, January 17, 2017

State payments to CalPERS next fiscal year are expected to total $6 billion, nearly double the $3.2 billion paid six years ago before a wave of employer rate increases.

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California’s bullet train could cost taxpayers 50% more than estimated — as much as $3.6 billion more – according to a confidential federal report obtained by the Los Angeles Times.

Ralph Vartabedian
January 13, 2017

California’s bullet train could cost taxpayers 50% more than estimated — as much as $3.6 billion more. And that’s just for the first 118 miles through the Central Valley, which was supposed to be the easiest part of the route between Los Angeles and San Francisco.

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Associated Press: California revenue is growing. So why the talk of deficits?

By Jonathan J. Cooper
Associated Press
Jan 11, 2017 – 9:13 p.m. EST

SACRAMENTO, Calif. (AP) — California’s economy is expanding and voters just approved billions of dollars in tax increases, yet Gov. Jerry Brown this week projected a budget deficit for the first time in four years and called for spending cuts.

So what’s going on?

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The Sacramento Bee: Gov. Jerry Brown sees downturn, proposes flat state budget

By Dan Walters
dwalters@sacbee.com
January 10, 2017 – 4:18 PM

Ever since he returned to the governorship six years ago, Jerry Brown has preached fiscal caution, warning that the state would inevitably see another economic decline and plunging revenue.

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Gov. Jerry Brown, seen discussing his 2016-17 state budget last year, will release his new spending plan next week in Sacramento. (Rich Pedroncelli / Associated Press)

John Myers
January 6, 2017

In the six years since Gov. Jerry Brown returned to the state Capitol, his relatively parsimonious approach to state budgets has been consistent enough to leave few watchers expecting major surprises.

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By one estimate, CalPERS has missed out on $3 billion in financial returns by refusing to buy tobacco stocks. But the pension giant decided Monday to stick with the ban despite a recommendation from its staff that the ban be relaxed.

By Dan Walters
dwalters@sacbee.com
January 2, 2017 – 12:01 AM

It’s very rare, but always welcome, when reality intrudes on political decision making.

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Pension costs for state and local government will begin to rise in 2017 after CalPERS officials voted to throttle back the expectations on profits earned from its $299 billion portfolio.

By John Myers
Dec. 21, 2016

In the four years since California’s largest pension fund recalibrated its investment projections, the annual contribution from state and local governments — in effect, the money paid by taxpayers — has slowly been on the rise.

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By Dale Kasler
Business & Real Estate
dkasler@sacbee.com
December 20, 2016 – 5:17 PM

The cost of that government pension is about to go up again, for California taxpayers as well as some public employees.

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KPMG was hired to save Riverside County money. But one supervisor wonders when the savings part starts

By Jeff Horseman / Staff Writer
Published: Dec. 14, 2016 – Updated: 9:21 p.m.

Change in Riverside County government comes at a price – almost $21 million, to be precise.

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By Jeff Horseman / Staff Writer
Published: Dec. 12, 2016
Updated:    Dec. 13, 2016 – 6:59 a.m.

In a nod to Riverside County’s ongoing financial challenges, a proposal before the county Board of Supervisors would have supervisors defer any pay raise they’re due to receive until 2019.

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Supervisor Marion Ashley suggests that his peers defer pay increases since unions are being asked to hold the line on raises.

By Jeff Horseman / Staff Writer
Published: Dec. 7, 2016
Updated:   Dec. 8, 2016 – 4:47 p.m.

Riverside County Supervisor Marion Ashley wants his peers to defer the automatic pay raises they received over the summer to show empathy with union employees, who also are being asked to forgo raises.

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The Sun: What San Bernardino did during its 4-year bankruptcy

By Ryan Hagen, The Sun
Posted: 12/07/16 – 6:46 PM PST |

SAN BERNARDINO >> A day after the city emerged from its 53-month bankruptcy, city officials marked the “watershed moment” with a detailed statement on what they’ve done since filing for bankruptcy and their plans for the future.

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The Sacramento Bee: Brown probably won’t leave budget deficit, but future cloudy

Dan Walters

By Dan Walters
dwalters@sacbee.com
November 20, 2016 2:44 PM

California’s gubernatorial transitions have included a less-than-stellar tradition in recent decades – outgoing governors leaving budget deficits to successors.

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Calpensions: CalPERS, CalSTRS considering more rate increases

Pensions

Ed Mendel
November 21, 2016

The state’s two largest public pension systems never recovered from huge investment losses during the deep recession and stock market crash in 2008. CalPERS lost about $100 billion and CalSTRS about $68 billion.

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The Union Democrat (AP): California analyst projects $2.8 billion budget surplus

California Money

AP Nation / World
By Jonathan J. Cooper
Associated Press
Nov 16, 2016 – 6:35 PM EST

SACRAMENTO, Calif. (AP) — California’s nonpartisan legislative analyst said Wednesday he’s forecasting a $2.8 billion budget surplus next year and says California should be able to weather a mild recession without major budget cuts or tax increases over the next four years.

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Los Angeles Daily News: San Bernardino reaches ‘momentous’ bankruptcy hearing

U.S. Bankruptcy Court

United States Bankruptcy Court in Riverside

By Ryan Hagen, San Bernardino Sun
Posted: 10/14/16 – 7:38 PM PDT |

RIVERSIDE >> The city of San Bernardino entered the final stage of its bankruptcy case Friday in U.S. Bankruptcy Court, with a confirmation hearing the city and its thousands of creditors have awaited for more than four years.

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Calpensions: Ruling challenges prevailing view of pension law

Pensions

By Ed Mendel
October 10, 2016

Three appeals court justices, citing the alarming view of critics that unaffordable public pensions are headed for the financial cliff, looked for a new way to allow a change in direction and found one.

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nomoney1

By Ali Tadayon, The Press-Enterprise
Posted: 09/25/16 – 6:31 PM PDT |

SAN BERNARDINO >> A bill that would ensure first responders to the Dec. 2 terrorist attack in San Bernardino get fully reimbursed for the cost of their response was vetoed Sunday by Gov. Jerry Brown.

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calpers

John Myers
Sept. 20, 2016 – 2:47 p.m.

The retiring forecaster for California’s largest public employee pension fund offered some final advice on Tuesday: State and local governments should be required to pay more into the system as soon as next year.

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Dan Walters

By Dan Walters
dwalters@sacbee.com
September 11, 2016 – 4:00 AM

The “unfunded liabilities” of state and local pension funds are California’s biggest unresolved political issue – at least in financial terms.

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Calpensions: Court pension decision weakens ‘California rule’

Pensions

Ed Mendel
August 22, 2016

The one thing some pension reformers say is needed to cut the cost of unaffordable public pensions: give current workers a less costly retirement benefit for work done in the future, while protecting pension amounts already earned.

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The Sun: How downtown Redlands will change over the next few years

Redlands

By Sandra Emerson, Redlands Daily Facts
Posted: 08/14/16 – 2:13 PM PDT |

REDLANDS >> A lot is happening in downtown Redlands.

Several long-anticipated development projects are getting underway, all of them set to bring in more business and activity to the city’s historic core.

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calpers

Ed Mendel
August 15, 2016

Two actuarial associations did not publish a controversial paper by their joint task force, reflecting a split in the profession over whether public pension debt should be measured with risk-free bonds or the earnings forecast for stock-laden investment funds.

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InlandPolitics: Newspaper needs to get real on local pension data

Seriously

Tuesday, August 9, 2016 – 12:00 p.m.

I just sent an email to Staff Writer Teri Sforza at The Orange County Register regarding her article on the “Top 25 Public Pensions” in California, published Tuesday.

Her story mysteriously omitted San Bernardino County pension data.

Read the rest of this entry »

Pensions

By Alicia Robinson, The Press-Enterprise
Posted: 08/08/16 – 7:54 PM PDT |

High-earning state and local government retirees are scattered around the state, with no one city or agency dominating the list of the biggest pension payouts in 2015, data from an open records advocacy group show.

Read the rest of this entry »

InlandPolitics: Sheriff’s deputies approve three-year agreement

SBCO

Wednesday, August 3, 2016 – 08:30 a.m.

San Bernardino County Sheriff’s Deputies and District Attorney Investigators have given their approval to a new three-year collective bargaining agreement.

Read the rest of this entry »

Riverside County Seal

District Attorney and county supervisors are at odds. And one supervisor had harsh words for his colleague

By Jeff Horseman / Staff Writer
Published: Aug. 2, 2016
Updated:   Aug. 3, 2016 – 6:27 a.m.

A lack of money is inflaming tensions among Riverside County’s elected leaders.

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red-ink

By Dan Walters
dwalters@sacbee.com
August 1, 2016 – 6:00 AM

  • California’s state and local public employee pension systems are caught in a vicious circle of rising outlays to retirees, very low pension fund earnings, higher unfunded liabilities and rising demands for more tax dollars.

Ron Seeling, the California Public Employees Retirement System’s chief actuary, believed he was speaking to a closed-door seminar in 2009 when he warned that public employee pension costs were becoming “unsustainable.”

Read the rest of this entry »

InlandPolitics: San Bernardino County pension fund posts investment loss

SBCO

Monday, August 1, 2016 – 11:00 a.m.

The pension fund for employees and retirees of San Bernardino County, California will post a negative return for it’s fiscal year just ended.

Read the rest of this entry »

Pay Raise

The State Worker
By Rachel Cohrs
rcohrs@sacbee.com
July 29, 2016 – 10:17 AM

The state has offered a nearly 12 percent general salary increase for SEIU Local 1000 employees spread out over four years, or a 9 percent increase over three years.

Read the rest of this entry »

Mike Hestrin

Hestrin says he needs additional funds to avoid layoffs. But supervisors say he’s being unreasonable

By Jeff Horseman / Staff Writer
Published: July 28, 2016 – Updated: 9:44 p.m.

  • Riverside County District Attorney Mike Hestrin has warned he would need $12.25 million in additional funding to avoid layoffs.

Riverside County District Attorney Mike Hestrin’s budget battle with the Board of Supervisors already has led to some public-safety service cuts, he acknowledged Thursday, July 28.

Read the rest of this entry »

The Press-Enterprise: RIVERSIDE COUNTY: Over objections, tight budget approved

Riverside County Seal

During contentious discussions, the district attorney says his department was underfunded and would need to lay off workers or cut services

By David Danelski / The Press Enterprise
Published: July 26, 2016
Updated:   July 27, 2016 – 7:23 a.m.

Following about an hour of contentious discussions, the Riverside County Board of Supervisors approved on Tuesday, July 26, revisions to an austere county budget designed to start closing a spending gap of more than $60 million a year.

Read the rest of this entry »

Sheriff

Monday, July 25, 2016 – 08:55 a.m.

Is there a new collective bargaining agreement for San Bernardino County sheriff’s deputies in the near future?

Read the rest of this entry »

Dan Walters

By Dan Walters
dwalters@sacbee.com
July 23, 2016 – 2:00 PM

  • Pension problems stem from 1999 benefit boost
  • Unemployment insurance ills rooted in 2003 benefit boost
  • Stockton violates austerity budget to reopen library

One day last week, Daniel Borenstein, a columnist for newspapers in the Bay Area News Group, published a critical analysis of the California Public Employees’ Retirement System’s long-term finances.

Read the rest of this entry »

Dan Walters

By Dan Walters
dwalters@sacbee.com
July 18, 2016 – 4:03 PM

  • Big public employee pension fund gained just 0.61 percent last year
  • With low earnings, its unfunded liability for benefits grows
  • Maintaining 7.5 percent earnings assumption doesn’t make sense

You can smear lipstick on a pig, but that doesn’t change its innate porcinity.

Read the rest of this entry »

calpers

Business & Real Estate
By Dale Kasler
dkasler@sacbee.com
July 18, 2016 – 9:11 AM

  • Pension fund’s investment gains well below target
  • Poor stock market showing drives weak results

CalPERS reported a 0.61 percent gain in investments in its latest fiscal year, the second straight year of subpar results for the big California pension fund.

Read the rest of this entry »

Dan Walters

By Dan Walters
dwalters@sacbee.com
July 17, 2016 – 5:00 PM

  • Property taxes will top $60 billion this year
  • San Francisco leads with 8.8 percent increase
  • Property taxes continue to outpace state levies

County property tax assessors are reporting strong upticks in taxable values for the 2016-17 fiscal year that began July 1.

Read the rest of this entry »

Dan Walters

By Dan Walters
dwalters@sacbee.com
July 12, 2016 – 3:04 PM

  • California Public Employees’ Retirement System lost money
  • Fund is now well short of what’s required to cover pensions
  • CalPERS demands more from governments to cover outlays

The California Public Employees’ Retirement System – the nation’s largest pension trust fund – took a beating during the Great Recession, dropping nearly $100 billion in value.

Read the rest of this entry »

Up Arrow

Capitol Alert
By Dan Walters
dwalters@sacbee.com
July 11, 2016 – 2:32 PM

  • Strong real estate market, construction add to property tax rolls
  • Taxable values estimated to hit $5.5 trillion

A strong surge in real estate transactions, new commercial and residential construction and rising housing prices should generate a $3-plus billion increase in property tax revenues for schools and local governments during the current fiscal year.

Read the rest of this entry »

calpers

By Teri Sforza / Staff Writer
July 12, 2016 – Updated 7:37 a.m.

Public workers are pumping more money into retirement funds. Public agencies are pumping more money into retirement funds.

Yet the market seems distinctly unimpressed.

Read the rest of this entry »

Apple Valley

Available funds drop due largely to Yucca Loma Bridge completion

By Matthew Cabe, Staff Writer
Posted:     July 1, 2016 at 1:01 PM
Updated:  July 1, 2016 at 3:18 PM

APPLE VALLEY — The Town Council unanimously approved a 2016-17 budget — for the fiscal year that began Friday — and it comes with a nearly 22-percent drop in available funds compared to last year.

Read the rest of this entry »

Riverside County Seal

‘Steely discipline’ is called for as officials try to rein in costs and build up savings.

By Jeff Horseman / Staff Writer
Published: June 29, 2016 – Updated: 6:41 p.m.

With expenses outpacing income, departments starved for money and savings dipping to uncomfortable levels, Riverside County officials want to put county government on a strict diet.

Read the rest of this entry »

SBCO

Tuesday, June 28, 2016 – 09:00 a.m.

San Bernardino County is set to approve a $203 million payment to its pension fund on Tuesday.

Surprisingly it’s an amount that’s lower than last year.

Read the rest of this entry »

Daily Bulletin: Upland proposes hiring freeze to balance budget

Upland seal

By Liset Márquez, Inland Valley Daily Bulletin
Posted: 06/25/16 – 3:07 PM PDT |

UPLAND >> When the City Council gets its first glimpse of the proposed $46.1 million budget Monday night, it will include some maneuvers that indicate the city continues to live in very lean times.

Read the rest of this entry »

hesperia_logo

By Rene Ray De La Cruz, Staff Writer
Posted Jun. 26, 2016 at 10:09 AM

HESPERIA — The City Council recently approved its “balanced budget” as it moves into the beginning of its fiscal year on Friday.

Read the rest of this entry »

Dan Walters

By Dan Walters
dwalters@sacbee.com
June 23, 2016 – 4:24 PM

  • Gov. Brown wants to raise taxes for more repairs
  • However, public is opposed to paying more at pump
  • Republicans demanding CEQA reforms

California’s highways are in bad shape and getting worse every day, with a backlog of deferred maintenance totaling tens of billions of dollars.

Read the rest of this entry »

The Sun: Public employees’ pay packages questioned

Money

Joe Nelson, The Sun
Neil Nisperos, Inland Valley Daily Bulletin
Stephen Wall, The Press-Enterprise
Posted: 06/21/16 – 10:09 PM PDT |

Inland public employees aren’t just earning a paycheck, but collecting hefty compensation packages that often dwarf their base salaries, an open-records advocacy group announced Tuesday.

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