Representatives of CSAC and the CSAC Finance Corporation met with ratings agencies and investor groups earlier this week to brief them on California’s state budget situation, the challenges facing California’s counties, and details about California Communities’ upcoming Tax and Revenue Anticipation Note (TRANs) sale.
The Associated Press released its nationwide “Economic Stress Index” for March today and the numbers aren’t pretty – at least for California. While economic stress declined in the vast majority of the country’s 3,100-plus counties, you can’t say the same for California.
I was invited to participate in the “supersession” discussion panel at the American Society for Public Administration’s (ASPA) annual meeting in Santa Clara County this morning. The session focused on “State and Local Fiscal Challenges” and what opportunities there were to address them today.
It seems like every day we hear another disturbing report regarding the “perfect storm” facing our members: the recession has caused the demand for services to skyrocket. At the same time, revenues to provide these services continue to drop.