California Revenues Fall $475 Million Short

Aug 13, 2012
Photo used under Creative Commons from Andy Patterson / Modern Relics / http://www.flickr.com/photos/modernrelics/4461010654/

California State Controller John Chiang released his monthly revenue report today. Revenues fell way below projections for July, but state finance officials say it’s not so bad.

The controller says July revenues were $475 million short. The State ended the last fiscal year with a cash deficit of $9.6 billion. As of July 31, that cash deficit totaled $18 billion, and is being covered with temporary loans from special funds. State Controller John Chiang called the collections “disappointing.” Republican Senator Tom Harman says he’s concerned the state will run out of cash soon.

Joe Moore / Valley Public Radio

Airports in Fresno and Bakersfield could be forced to close if lawmakers in Washington D.C. can't reach a deal on deficit reduction in the coming months, according to a new analysis released today by a Washington D.C. think tank. 

This week on Valley Edition we look at how new regulations, budget cuts and the economy are all changing the way local colleges operate. Dr. Tony Cantu from Fresno City College joins us to talk about new policies that are intended to keep community college students on track to graduate within two years. We also talk with higher education advocate Jessie Ryan of the Campaign for College Opportunity and Joe Haydock of Institute of Technology, Clovis Campus about new federal regulations that prevent students who don't have a high school diploma or GED from obtaining financial aid.

California's Budget On Hook For Wildfires

Jul 31, 2012

The wildfires blazing across California this fire season aren’t just burning through trees, grasses and homes, they’re burning through the state budget as well.  

Fifteen helicopters. Seven bulldozers. 46 fire engines. And 900 people. It took all that to fight a single California wildfire this summer – the Robbers fire in Placer County. It’s paid for with a special state emergency fund. If that runs out, says H.D. Palmer with the governor’s Department of Finance.

Many cities around the country are faced with growing costs and shrinking revenue. Despite making sweeping cuts, Stockton, California recently became the largest city to file for bankruptcy. Host Michel Martin talks with Stockton Mayor Ann Johnston about how she's managing a city that's operating in the red.

State Park Scrambles as It Faces Two Week Deadline

Jul 17, 2012
Capitol Public Radio

It's been a rollercoaster ride for California state parks. A year ago, the Department of Parks and Recreation selected 70 parks to close on July 1st as a result of budget cuts. But operating agreements with private partners have kept 40 of the parks open.

Now it appears all but a handful will stay open, but nobody knows for how long. In the first of a two-part series looking at the state of California's state parks reporter Kathleen Masterson visited one still struggling to stay open.


Joe Moore / Valley Public Radio

Reduced enrollment or a mid-year tuition increase. That’s the choice the California State University could face if voters reject Governor Jerry Brown’s November tax measure.

You’ve heard of trigger cuts. Now, there’s a "trigger on a trigger" – a $150 per semester tuition increase to meet a potential 250 million dollar cut. That’s one proposal CSU Trustees are looking at. The other would reduce enrollment by three percent, or about 6-thousand students. Robert Turnage is with the CSU Chancellor’s office:

State budget suspends Brown Act provisions

Jul 16, 2012

Local government boards in California are no longer required to post agendas or disclose decisions made in closed sessions. As Amy Quinton reports from Sacramento, the legislature suspended those provisions of the state’s public meeting law in the budget passed last month.

CalPERS barely earned any money at all during the fiscal year that ended June 30th. The nation’s largest public pension fund announced a one-percent return on investment today.

The California Public Employees Retirement System’s one percent return is nowhere near its projection of seven-and-a-half percent. It’s even below the California State Teachers Retirement System, which earned a one-point-eight percent return.

Could the City of Fresno follow Stockton, Mammoth Lakes and San Bernadino in declaring bankruptcy? According to Barron's, Wall Street experts remain concerned about Fresno's financial position, thanks to the city's long term labor contracts and limited revenue options. They say the downsides of filing for Chapter 9 protection will likely serve as a deterrent for most cities, but Fresno's case is still a concern.