Prop 26
New Proposition 26 implementation guidance has just been released by the League of California Cities. The League’s City Attorney’s Department has convened a task force that is working on a comprehensive analysis that will be available in mid January. In the mean time, the League has released an article providing preliminary guidance and answering “frequently asked questions.” Find it here: http://www.californiacityfinance.com/Prop26faq101218.pdf
The Governor on Monday released his May Revision to his FY2011-12 proposed budget. With budget cuts and fixes already adopted by the Legislature last month ($13.4 billion), some improvement in projected revenues ($6.6 billion), and a targeted reserve replenishment of $1.2 billion, the budget shortfall for the FY2011-12 budget year is $10.8 billion, and the ongoing structural gap is about $10 billion per year thereafter. The Governor’s proposed revision reduces some of the tax extensions, uses some of the higher revenue to increases school funding to meet a higher Prop98 minimum guarantee, makes fine-tuning revisions to the realignment proposal, and pays down some of the mounting debt from budgetary borrowing. The Governor is now calling for the reform, rather than elimination of Enterprise Zones, but continues to include in his proposed budget the elimination of Redevelopment and a shift of $1.7 billion in tax increment to benefit the state budget in FY2011-12.
The May revise and related documents may be found here: http://www.dof.ca.gov
The League of Calif Cities response/analysis may be found here: http://www.cacities.org/index.jsp?zone=locc&previewStory=28507
The Calif State Assn of Counties response/analysis http://www.csac.counties.org/
Joint CMTA/CSMFO Aug 4th Meeting Presentations
- CSMFO-CMTA Agenda 08-04-2011
- ITEM 2 – ABx1 26 and 27
- ITEM 3 – AB 27 Payment Methodology Exhibit – 8-4-2011
- ITEM 3 – AB X1 27 Appeal Information-Form
- Item 4 – RDA Legislation Impact on RDA Bonds
- Item 5 – City of Pinole Example
Simi Valley Check Register Process
Questions & Suggested Solutions of a Continuing Nature – Published by the California Committee on Municipal Accounting
Carrying Forward Appropriations from One Fiscal Year to the Next