State Budget

State Budget

Riverside County’s Unemployment Rate at a Four-Year Low

Riverside County’s unemployment recently dipped below 10 percent, its lowest rate in 4 and a half years reported county and state officials. After examining the data from the job market in April of this year, state officials in the California Employment Development Department reported that the unemployment rate was 9.6 percent, an impressive drop from March’s 10.5 percent, and an even bigger drop compared to the 11.6 rate in April of last year.

LA County Budget Proposal Unveiled

On Monday, Los Angeles county officials unveiled a $24.7 billion budget proposal which, they say, marks a turnaround for the county’s economy. While the county was facing a $491 million deficit just three years ago, the plan includes no shortfall this time around. For the first time in 3 years, it also contains no calls for spending cuts.

Grand Jury Says San Mateo Pension Liability a Serious Concern

San Mateo’s pension liabilities are out of control, according to a civil grand jury report released on Monday. While the San Mateo County Employees’ Retirement Association (SamCERA) had previously estimated the figure at around $1 billion, the grand jury says it’s closer to $2 billion once current economic conditions and investment performance are factored in. “The problem is huge,” said Jury Foreman Timothy Johnson Jr. “All the numbers are appalling.”

Porn Industry Leaving LA County

It looks as though Los Angeles County porn stars are finally packing their bags. FilmLA, which handles film permits for the city and county, says it has received just 2 applications from the adult film industry this year. That number pales in comparison to the 500 or so applications which FilmLA says it typically receives in the same time period. 

Amidst Better Numbers, LA County Workers Demand Pay Increases

With the worst of the recent economic recession behind them, Los Angeles County officials say they will unveil a balanced budget for the first time in four years. County workers now want a piece of that pie and are demanding pay increases, which were out of the question during harder economic times.

L.A. County to Unveil New, Balanced Budget Likened to Pre-Recession Budgets

 LA County officials have recently announced a new budget plan that is aimed at moving the county away from its years of austerity into a more prosperous time. While times were tough, LA County was able to avoid taking furlough days, but still did have to cut its budget by approximately 15% over the past 5 years. 

Ventura County Pension Board Adds Jobs to Deal With Understaffing and Backlog

Due to Ventura County's issues with productivity and increasing backlog, the city's financial board that oversees the County's $3.4 billion pension system voted 6-3 in favor of adding more government jobs. A handful of long-time administrators recently left the county, leaving many departments understaffed and underqualified for the work that needs to be done in the county administration.

San Mateo County Receives Top Credit Ratings

In a recent report, Standard and Poor (S&P) affirmed a AAA credit rating for the county of San Mateo, rendering San Mateo the one and only county in California to have received an AAA rating from both Moody’s and S&P—the country’s top two credit-rating agencies. S&P further affirmed an “AA+” rating for San Mateo’s certificate of participation outstanding, calling its outlook “stable.”

Alameda County Rewards County Administrator a $400,000 Salary for Life

In order to reward County Administrator Susan Muranishi for her service, Alameda County will be giving her a salary of $423,664 for the rest of her life. The numbers end up adding up. Muranishi receives a $301,000 base salary, but on top of that she is given a car allowance, bonuses for performance, and “longevity” pay due to her working for the county for over 30 years. 

Consumer Spending, Sales Tax Revenues on Rise in Tulare

Last week, Tulare’s Chief Administrative Officer Jean Rousseau presented his mid-year budget report to the County Board of Supervisors with a smile. It shows that the county is about to end its budget year with a $10 million surplus. The reason? A jump in consumer spending, which led to an unexpected increase in sales tax revenues—a 10.73% increase in revenues, in fact, according to HdL, a Diamond Bar-based financial services company which advises local governments. That’s one of the highest sales revenue growth rates for all California counties over the same period.

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