Click below for Packet. It is 160 pages. Included is 29,000,000 INCREASED DEBT BOND Proposal. These funds will be 27% spent on CITY HALL Operations via the "Pass Through".
IS THIS HOW GOVERNMENT SHOULD BE FUNDED?
http://www.cityofgrandterrace.org/archives/38/05242011%20Council%20Packet.PDF
What will be the price for the GT City Council moving to incur debt? What is the overwhelming public benefit of rushing to encumber debt? Is the council rushing to pay fees for consultants before they learn the fate of RDA's? authority
Fitch: Challenging Tax Base Expected to Negatively Impact California RDAs - Yahoo! Finance
http://finance.yahoo.com/news/Fitch-Challenging-Tax-Base-bw-1470521098.html?x=0
The Legislative Analyst's Office has just issued the following report:
Significantly improved General Fund revenue trends since January and over $13 billion of budget actions already approved by the Legislature have reduced the size of the budget gap still to be addressed by California’s elected leaders. The administration identifies a $9.6 billion remaining budget problem based on generally reasonable 2010-11 and 2011-12 revenue and expenditure assumptions. The Governor’s plan to address this shortfall and leave the state with a $1.2 billion reserve at the end of 2011-12 has many positive aspects. It would help bring annual spending and resources much closer in line for the next five years, and its focus on reducing budgetary debt obligations is laudable. On the other hand, the Legislature has other options to address the reduced budget shortfall, including adoption of alternative tax proposals, additional program reductions, and selected fund transfers and internal borrowing. The improved economic and revenue situation, along with significant budgetary solutions already adopted, mean that California now is in a position to dramatically shrink its budget problem with a focus on ongoing budget solutions. (28 pp.)
This report is available using the following link:
Late this afternoon we will post a video of Mac Taylor’s press conference discussing the report. It will be available using the following link when we’ve finished preparing it for the website:
