Entries by California Policy Center

California Policy Center Study Exposes School Bond Debt Loophole

FOR IMMEDIATE RELEASE Sacramento, California, March 30, 2015 Contact: press@calpolicycenter.org, 916-439-2159 Stockton Unified School District Requests More Bond Indebtedness Waivers, California Policy Center Warns About Process On Tuesday, March 24, the Stockton Unified School District board of trustees held a hearing and unanimously voted to ask the State Board of Education for two waivers from bond […]

Leading Education Reformer Joins California Policy Center

FOR IMMEDIATE RELEASE Sacramento, California, February 11, 2015 Contact:  press@calpolicycenter.org. Former State Senate Majority Leader Gloria Romero has joined the California Policy Center as its Director of Education Reform. Romero, founder of the California Center for Parent Empowerment, is one of the strongest Democratic voices in the country advocating for expanding educational opportunities for all […]

Transparent California Releases Compensation Data for 405 cities and 826 Special Districts Statewide

FOR IMMEDIATE RELEASE Sacramento, California, December 22, 2014 Contact: press@calpolicycenter.org; media contact Jordan Bruneau, 916-258-2396 #1 Greater Los Angeles Municipal Employees Earned Average of $119,000 in 2013 TUSTIN – Today, Transparent California released previously unseen 2013 public employee compensation data – complete with names, pay, and benefits – for 405 cities and 826 special districts statewide on TransparentCalifornia.com, […]

California Policy Center Study Ranks State's Most Financially Distressed Cities

FOR IMMEDIATE RELEASE Sacramento, California, November 6, 2014 Contact:  press@calpolicycenter.org; principal author Marc Joffe, 415-578-0558 Study Ranks Atwater, Chico, Compton and Maywood Among Most Financially Distressed California Cities The California Policy Center and Civic Partner have released a list of the most financially distressed California cities and counties. The new CPC report, “California’s Most Financially […]

California Policy Center Study Reveals $11.8 Billion in New School Bonds on Nov. Ballot

FOR IMMEDIATE RELEASE Sacramento, California, October 16, 2014 Contact: press@calpolicycenter.org, 916-439-2159 Concerned About Debt, California Policy Center Seeks to Increase Public Awareness of How Municipal Bonds Work The California Policy Center has just released some preliminary findings from an ongoing study of school bond financing. The complete study will be released later this year. In […]

First Ever Release of Complete 2013 CalPERS Compensation Data Helps Explain California’s 140 Proposed Tax Increases

FOR IMMEDIATE RELEASE Sacramento, California, September 30, 2014 Contact: press@calpolicycenter.org, 916-258-2396 Average 2013 CalPERS Pension Payout for Career Bureaucrat is $64,448, Twice the Maximum Social Security Retirement Benefit First Ever Release of Complete 2013 CalPERS Compensation Data Helps Explain California’s 140 Proposed Tax Increases Today, the California Policy Center (CPC) released never-before-seen 2013 CalPERS base […]

First Ever Release of School District Compensation Data Uncovers Widespread Double-Dipping and Inflated Pay

For Immediate Release July 23, 2014 California Policy Center Media Contact: Jordan Bruneau (916) 258-2396 First Ever Release of School District Compensation Data Uncovers Widespread Double-Dipping and Inflated Pay California Think Tank Releases 2013 Database of School District Salaries, Calls for Legislation to End Double-Dipping TUSTIN – Today, the California Policy Center (CPC) released 2013 […]

Lawsuit Filed Against City of Chula Vista for Refusal to Comply With California Public Records Law

FOR IMMEDIATE RELEASE Sacramento, California, May 20, 2014 Contact: press@calpolicycenter.org, 916-258-2396 California Think Tank Holds City Accountable for Violating State Law Today, the California Policy Center (CPC) filed a lawsuit in San Diego County Superior Court against the city of Chula Vista for refusing to comply with the California Public Records Act (CPRA). CPC is seeking […]

New Study Exposes Underfunding in County Retirement Systems

FOR IMMEDIATE RELEASE Sacramento, California, May 7, 2014 Contact: press@calpolicycenter.org The California Policy Center has just published a study that compiles the total unfunded retirement liabilities for the twenty California Counties that have their own independent pension systems. These independent pension systems are frequently touted as financially sound, but when unfunded healthcare liabilities and outstanding balances […]

Even Accounting for Environmental Costs, Oil and Gas Development To Have Net Positive Impact on California Economy

FOR IMMEDIATE RELEASE Sacramento, California, April 1, 2014 Contact: press@calpolicycenter.org, 916-258-2396 Expansion Could Generate Nearly 300,000 New Jobs Per Year Through 2035, Between $1 and $4.5 Billion in Annual Tax Gains Today, the California Policy Center (CPC) released a new study from a University of Wyoming economist analyzing the realistic economic and environmental impacts that offshore oil drilling […]

CPC Releases Sobering Study on Sonoma County's Pension Crisis

FOR IMMEDIATE RELEASE Sacramento, California, January 16, 2014 Contact: press@calpolicycenter.org The California Policy Center has just published an alarming study of Sonoma County’s pension crisis. The study was written by New Sonoma, a volunteer organization of financial experts and citizens concerned about the finances and governance of Sonoma County. The study describes how the County has incurred […]

CPC Study Finds CalSTRS Contributions Grossly Inadequate

FOR IMMEDIATE RELEASE Sacramento, California, November 12, 2013 Contact:  press@calpolicycenter.org Saddled with a massive debt on what is needed to meet its pension obligations the California State Teachers Retirement System (CalSTRS) added more than $4.0 billion to that debt in 2012 because it chose to underfund its so-called “catch-up” payment. That is the conclusion reached […]

CPC Study Finds Orange County Pension Plan Contributions Grossly Inadequate

FOR IMMEDIATE RELEASE Sacramento, California, September 13, 2013 Contact:  press@calpolicycenter.org Saddled with a massive debt on what is needed to meet its pension obligations to County workers and other participants, the Orange County Employee Retirement System (OCERS) added more than $100 million to that debt in 2012 because it chose to underfund its so-called “catch-up” […]

CPC Study Provides Tools to Estimate Pension Liabilities and Contributions Using Various Assumptions

FOR IMMEDIATE RELEASE Sacramento, California, July 29, 2013 Contact:  press@calpolicycenter.org With the recent announcement that Detroit has declared bankruptcy, many wonder how their city, county, school district, or other government organization is doing. To help keep elected officials accountable, the California Policy Center has released a simple spreadsheet and tutorial that estimates the unfunded liabilities and […]

CPC Study Finds Orange County Again Confronting Bankruptcy Under New Accounting Rules

FOR IMMEDIATE RELEASE Sacramento, California, June 4, 2013 Contact:  press@calpolicycenter.org A new study published by the California Policy Center analyzes the impact of GASB and Moody’s new – and final – rules governing financial reporting for pensions. These rules take effect next year. If Orange County had been using the just adopted GASB rulings governing […]

CPC Study Estimates California's Total State and Local Government Debt Exceeds $1.0 Trillion

FOR IMMEDIATE RELEASE Sacramento, California, April 30, 2013 Contact:  press@calpolicycenter.org A new study published by the California Policy Center estimates the total state and local government debt in California between $848 billion and $1.1 trillion. The study, authored by CPPC researchers Bill Fletcher and Ed Ring, is the result of extensive interviews with state employees […]

CPC Study Finds Average Total Compensation For Irvine City Worker is $143,691 Per Year

FOR IMMEDIATE RELEASE Sacramento, California, April 9, 2013 Contact:  press@calpolicycenter.org A new study published by the California Policy Center shows the average full-time employee with the City of Irvine made $143,691 in total compensation during 2012, according to records provided to the CPPC by the city’s own payroll department. The median total compensation, which means […]

CPC Study Estimates Shows New GASB Rules Will Wipe Billions in Net Assets Off Government Balance Sheets

FOR IMMEDIATE RELEASE Sacramento, California, March 19, 2013 Contact:  press@calpolicycenter.org In a new study published by the California Policy Center financial analyst John Dickerson examined Bill Gates’ assertion that only pension “accounting fraud allows governments to pretend their budgets are balanced”. Although Dickerson uses the term “fatally flawed accounting” he concludes Gates is essentially correct. […]

CPC Study Shows Unfunded Pension Liability Will Triple To $328 Billion in 2014, Using Moody's Proposed New Criteria

FOR IMMEDIATE RELEASE Sacramento, California, February 25, 2013 Contact:  press@calpolicycenter.org California’s state and local government pension plan problems are going to get a lot bigger in 2014 under new criteria proposed to be implemented by credit reporting leader Moody’s.  That’s the conclusion of a new study published by the California Policy Center, which concludes that […]

CPC Study Documents How Rhode Island Implemented Pension Reform

FOR IMMEDIATE RELEASE Sacramento, California, January 28, 2013 Contact:  press@calpolicycenter.org The California Policy Center has just published a new study that provides an in-depth chronology of Rhode Island’s pension reform efforts. Despite several incremental pension reforms passed by their state legislature starting in 2005, by 2010 Rhode Island’s state pension plan was only 48% funded, […]

CPC Study Consolidates California's State and Local Government Spending

FOR IMMEDIATE RELEASE Sacramento, California, January 14, 2013 Contact:  press@calpolicycenter.org When Sacramento politicians are dancing in the end zone about their “balanced budget,” how much does that tell us about whether government spending has been brought under control? Not much, according to a new study by the California Policy Center. Using the most recent financial […]

CPC Study Calculates Impact of New Credit Rating Criteria

FOR IMMEDIATE RELEASE Sacramento, California, January 14, 2013 Contact:  press@calpolicycenter.org The California Policy Center has just published a new study that examines the impact of the credit rating criteria being considered by Moody’s Investor Services for state and local governments. Moody’s has proposed discounting pension fund liabilities at a rate of 5.5% instead of the […]