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Articles Tagged With ‘Municipal Finance’




Arroyo Grande facing bankruptcy in five years

Written on 31 Jan, 2018 in Featured, Uncovered SLO | 14 comments

By KAREN VELIE Arroyo Grande’s projected deficit spending could bankrupt the city in five years, according to a 10-year financial outlook presented to the City Council last month. [Cal Coast Times] A projected 52 percent increase in employee retirement expenditures... (Continue reading)

CalPERS lowers investment forecasts, liabilities to increase

Written on 22 Dec, 2016 in Daily Briefs, Featured | 9 comments

By JOSH FRIEDMAN The California Public Employees Retirement System (CalPERS) has decided to lower its discount rate from 7.5 percent to 7.0 percent, which will cause pension costs to rise for state and local government agencies. CalPERS’s discount rate is... (Continue reading)

Bond rating for Los Osos is suspended

Written on 21 Aug, 2016 in Featured, Uncovered SLO | 22 comments

By KAREN VELIE The financial bad news for the Los Osos Community Services District continues; earlier this summer the Standard & Poor’s suspended its rating for district bonds. The credit rating service said it could not continue to rate the... (Continue reading)

CalPERS investment returns fall below 1 percent

Written on 25 Jul, 2016 in Daily Briefs, Featured | 24 comments

CalPERS earned a return on its investments of just .6 percent in the last fiscal year, marking the state retirement fund’s worst performance since 2009. The pension system must average a yearly return of at least 7.5 percent to meet... (Continue reading)

Guadalupe council angered by disincorporation pitch

Written on 16 Apr, 2015 in Daily Briefs, Featured | 16 comments

Guadalupe City Council members are not happy with the Santa Barbara County Grand Jury’s recommendation to disband their city. The Guadalupe City Council met Tuesday, shortly after the release of a grand jury report that describes city finances as a... (Continue reading)

Sanitation district board pursues an audit

Written on 22 Jan, 2015 in Featured, Uncovered SLO | 37 comments

By KAREN VELIE After several years of voting against an audit, the South San Luis Obispo County Sanitation District Board voted 3-0 on Wednesday to pursue a financial review of the past 12 years. Approximately 30 people attended Wednesday’s meeting.... (Continue reading)

Will SLO issue a pension obligation bond?

Written on 17 Apr, 2014 in Featured, Uncovered SLO | 37 comments

By JOSH FRIEDMAN Chances are growing that the city of San Luis Obispo will issue a pension obligation bond to gain control of its unfunded retirement plan liabilities, which have soared past $100 million. The city currently has a total... (Continue reading)

Bankrupt California city to vote on sales tax hike

Written on 10 Jul, 2013 in Daily Briefs, Featured | 28 comments

The city of Stockton, which last year became the largest U.S. city to file for bankruptcy, will vote on whether or not to raise taxes to help ease its financial troubles. [News10] The Stockton City Council voted Tuesday night to... (Continue reading)