For West Contra Costa Healthcare District, the Numbers Just Don't Add Up
For West Contra Costa Healthcare District, the Numbers Just Don't Add Up
This week, Bay Area media have been covering the financial crisis at Doctor’s Medical Center, a public hospital operated by the West Contra County Healthcare District. As I discussed in a recent California Policy Center study, many California health care districts have financial issues, but the problems at WCCHD are especially acute. The district filed...
By Marc Joffe
California City Pension Burdens
California City Pension Burdens
SUMMARY: This study estimates the burden of pension costs on 459 California municipalities. The primary measure we consider is the ratio of required pension contributions to estimated total revenue for each city. We also look at contribution rates per employee and at pension funding levels. We find a wide variation in the impact of pension...
By Marc Joffe
California Healthcare Districts in Crisis
California Healthcare Districts in Crisis
INTRODUCTION While financial conditions in California cities have improved markedly since 2012, many of the state’s 78 healthcare districts are struggling. Last April, Palm Drive Healthcare District in Sebastopol filed for protection under Chapter 9 of the federal bankruptcy law. In December, the West Contra Costa Healthcare District, which operates San Pablo-based Doctors Medical Center...
By Marc Joffe
Local Government Fiscal Early Warning Systems: A Good Idea Whose Time Has Come
Local Government Fiscal Early Warning Systems: A Good Idea Whose Time Has Come
Two years ago, Treasurer Bill Lockyer called for an early warning system to detect signs of financial trouble in California local governments before they faced bankruptcy. By proactively identifying at-risk cities, the system could create an opening for local experts and external advisors to intervene before any given situation spun out of control. As the California Policy...
By Marc Joffe
California's Most Financially Stressed Cities and Counties
California's Most Financially Stressed Cities and Counties
Introduction: Due to the healthy response generated by this study, and justifiable expressions of concern by many whose cities we found to be financially stressed, we would like to state that the rankings developed herein are based on information contained in 2013 financial statements, that is, financial statements for the fiscal year ended June 30,...
By Marc Joffe