Tag "California State Auditor"

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California faces revenue surplus, persistent debt

  California’s state auditors recently released an unflattering look at the state’s finances, part of their annual report. Issued several years in arrears, the assessment showed nearly $2 billion in deficit spending for the 2011-2012 fiscal year, piling more borrowed

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State, local governments misusing voter-approved bond money

  It seems common sense that bond money approved by a state’s voters would be spent directly on the projects it was intended for. Unfortunately, lawmakers, trying to find resources to bandage constant budget imbalances, often raid bond funds by

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