Budget and Finance

Brown: State of the State is fiscal restraint

With a cautiously optimistic tone, Gov. Jerry Brown preached prudence on Thursday morning during his annual State of the State address. The speech — courteous in its brevity, clocking in at under 20 minutes — touted accomplishments and initiatives, like

Brown debuts 2016-17 budget

James Poulos January 8, 2016

More permanent state spending would be devastating to California, Gov. Jerry Brown announced — at least in the midst of another recession. Unveiling his budget for the new fiscal year, Brown flourished a chart bearing that warning, although the proposal

Sacramento mired in budget bickering

James Poulos January 7, 2016

Having failed to deliver during a special legislative session Gov. Jerry Brown called last year, Sacramento Democrats and Republicans squared off on Medi-Cal and infrastructure spending this week. A large health care hole has developed in the current state budget, driven

Education sector bond spending continues to spike

Steve Miller January 5, 2016

Schools and universities from the smallest unified school district to the top-tier university systems in the state issued more bonds in 2015 than they had in any year since the boom times of 2005, before the Great Recession. The result

UC drops investments in response to activists’ gripes

Chris Reed December 31, 2015

For the second time in three months, University of California pension administrators have ended their investments in specific industries after receiving complaints from student activists, spurring criticism that investments should be focused on returns — not on making political or

Controller Betty Yee publishes salary data for cities, counties

John December 21, 2015

Public employees at California cities and counties took home more than $36 billion in compensation last year, according to new payroll data released by the state’s chief fiscal officer. State Controller Betty T. Yee disclosed the 2014 payroll data from 54 counties

2011 San Francisco pension fix not panning out

Chris Reed December 13, 2015

The pension reform measure that San Francisco voters passed in 2011 isn’t yielding the savings that city leaders expected, and for several reasons — one of which should worry all pension-paying institutions. That reason: Retirees are living significantly longer than

Restive Democrats cautioned on budget surplus

James Poulos November 28, 2015

A new report by the Legislative Analyst’s Office prepared the ground for fresh political combat in Sacramento over what to do with California’s budgetary surplus. Although “much of the predicted surpluses” could be skimmed off “for serious emergencies,” the San Francisco Chronicle

Controller expands eClaim feature for unclaimed property

John November 21, 2015

California’s chief fiscal officer is making it easier to reclaim private property held by the state. State Controller Betty T. Yee announced earlier this month an expansion of the eClaim feature for the state’s unclaimed property program. Property owners will now

Brown may seek new tax increases on 2016 ballot

James Poulos October 22, 2015

California lawmakers have left Gov. Jerry Brown in the lurch. That was Brown’s judgment of the Legislature’s performance, which has left his administration with substantial unfinished business heading into the election year. The consequence may be a fresh round of