Author: David Crane

Today’s LA Times reports the city is looking at layoffs of police officers because of a budget shortfall. But as we explain here, LA could

Pension Obligation Bonds (POBs) do NOT reduce pension obligations. They increase pension assets, which produces an accounting benefit (more assets — the same liabilities =

October General Fund tax revenues came in 37 percent above the 2020-21 Budget Act forecast, according to the latest Finance Bulletin from the California Department

A recent article in the New York Times about election results in California included the following sentence (underline added by me): “A measure that would

Friday, LA’s City Administrative Officer announced the city’s budget deficit could reach $400 million to $600 million by the end of the current fiscal year.

According to the October Finance Bulletin issued by the Department of Finance, California’s tax revenues in September were 43 percent greater than forecast by the

When we’re not studying state finances we read financial reports issued by cities and school districts. Recently we took a look at the City and County

When I started focusing on California pension matters in 2005 I quickly learned that Sacramento is a company town. The company is government and in

Dear Legislators, We are increasingly concerned about poor performance of critical state services. According to the US Department of Labor, in June only 52 percent