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Pensions drowning California and its cities
January 25, 2016
As the result of years of discussions over how best to account for the growing unfunded liabilities owed by government pensions systems, municipalities for the first time ever must include the unfunded actuarial accrued liability of their defined-benefit pension plans in their annual financial reports.
Governor's Budget: Early Battle Lines on Taxes
January 8, 2016
Yesterday, Governor Jerry Brown released his 2016-17 budget proposal to the legislature, and in that budget he anticipates approximately $7.6 billion in new spending over the previous year’s approved budget. The fact that we have increased revenues to the state should be good news for California taxpayers, as the additional funds should take away any pressure to raise taxes. But, that’s not how Sacramento logic works.
6 Key Measures of California's Fiscal Health
January 7, 2016
1. California's Net Financial Position CA’s “net” financial position is a $117 billion deficit, ($3,014 per person) according to the most recent Comprehensive Annual Financial Report (CAFR) . This figure should be positive for healthy organizations. It’s derived by tallying the state government’s...
2016 Legislative Priorities Town Hall Presentation
December 1, 2015
On December 1, 2015, my staff and I gave a first look at my priorities for the 2016 legislative session in Sacramento.
Caltrans needs to go on a staffing diet
August 7, 2015
This year, the majority Democratic Party found new ways to spend the $6 billion to $9 billion in additional tax revenue, passing the largest state budget in California history. Funding to fix our roads and bridges, however, was woefully inadequate.
7 Key Measures of California's Transportation Challenges
August 6, 2015
1. CA's gas taxes are the 4th highest in the nation. According to the American Petroleum Institute , California's 61-cent-per-gallon gas taxes are the 4th highest in the nation, behind only Pennsylvania, New York and Hawaii. This does not include the recent addition of extra cap-and-trade taxes...
California Budget Brief: June 19, 2015
June 19, 2015
A Certified Public Accountant and Certified Financial Planner, Senator Moorlach first gained national prominence by helping Orange County navigate its way out of bankruptcy 20 years ago – then the largest municipal bankruptcy in the U.S. history. Five Key Measures of California’s Fiscal Health Tax...
Sacramento needs to butt out of local affairs
June 11, 2015
I have now spent 12 weeks representing California's 37th District as a state senator, and I have noticed the state Legislature enjoys meddling in the affairs of Orange County.
State lawmakers heedless of history's budget lessons
June 8, 2015
The joy of being a little older is that one has seen a few economic cycles over the decades. This is certainly true for Gov. Jerry Brown, 77, who instinctively knows that after a brief economic boom, another recession is not too far off. The proverbial warning from George Santayana, “Those who cannot remember the past are condemned to repeat it,” is not lost on the governor.
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