Rev & Tax

Rev & Tax

Amended Neutrality Agreement Is A Boon For City Of Eastvale

The City of Eastvale has just saved over a half a million dollars a year, thanks to an amended revenue neutrality agreement approved by the Riverside County Board of Supervisors on Tuesday. The move comes on the heels of a previous report, issued by the county’s chief management analyst Tina Grande, who said there was a misinterpretation of the data used to calculate Eastvale’s revenue neutrality payments—fees designed to offset the revenue lost by the county as a result of Eastvale’s incorporation in 2010.

Submitted by Nicki Arnold on Thu, 05/23/2013 - 8:28am

State Controller’s Audit Finds Ongoing Financial Trouble In Bell

Following a ghastly corruption scandal which captured the attention of the entire nation, a new state audit says the City of Bell is now in dire financial straits. The city is facing a general fund deficit of about $1.1 million, having lost significant revenue after it stopped collecting a number of illicit taxes. The city still owes its residents some $3 million for prior illegal tax collections, including $800,000 in sanitation overcharges.

Submitted by Nicki Arnold on Thu, 05/23/2013 - 8:25am

More California Cities May Face Bankruptcy

Despite signs of an upturned economy, cities across California continue to face fiscal issues so large they may turn to bankruptcy. 

Joel Kotkin, a professor of urban development at Chapman University, says bankruptcies are “almost inevitable.”

Submitted by Nicki Arnold on Thu, 05/16/2013 - 11:08am

Milpitas City Council Discusses Budget Draft, Projected Shortfall

A projected $2.4 million shortfall was at the center of discussions during a special study session on Tuesday, as the Milpitas City Council conducted its first review of the 2013-2014 budget. The $66.2 million general fund budget draft shows a 7.5 percent increase in spending, largely due to increased employee contributions to the California Public Employees’ Retirement System, a hike in medical insurance premiums, public employee union concessions, and increases in staff. 

Submitted by Nicki Arnold on Thu, 05/02/2013 - 11:04am

Canyon Lakes Severs Ties with CalPERS

The tiny city of Canyon Lake has decided to sever its ties with the California Public Employees’ Retirement System (CalPERS). The city of just 11,000 sent a letter to the agency earlier this month, stating its intention to terminate the relationship. Canyon Lake cited CalPERS’ plans to raise rates by 50 percent over the next several years—a decision formally approved by the board this week.

Submitted by Nicki Arnold on Thu, 04/18/2013 - 12:00pm

Hearing for SB 56 Postponed

An effort to restore millions in funding to four Riverside cities was delayed Wednesday morning, as the hearing for Senate Bill 56, scheduled to go before the Senate Governance and Finance Committee, was abruptly postponed. 

Submitted by Nicki Arnold on Thu, 04/18/2013 - 11:58am

Santa Barbara Expects to Run a Surplus

On Tuesday, Santa Barbara Finance Director Bob Samario said the city is expected to run a surplus for the next two fiscal years, making way for additional capital funding. Samario made the announcement with pride, saying the city had pulled through the recent economic recession “in pretty good financial condition.” 

Submitted by Nicki Arnold on Thu, 04/18/2013 - 11:47am

Join the LA Division of the League of CA Cities Webinar!

The League of California Cities Los Angeles County Division is kicking off a series of webinars focused on local government begins on April 30. These webinars aim to connect members with local government innovators and innovative ideas. This first webinar on the last Tuesday in April will feature former Assembly Member Steve Samuelian, owner of California Consulting LLC, who has been a prominent figure in both local and statewide government for over two decades.

Submitted by Nicki Arnold on Thu, 04/11/2013 - 11:40am

Vernon Voters Approve Tax Hikes

On Tuesday, voters in the City of Vernon approved three tax measures aimed at closing an estimated $8 million budget deficit. City officials had previously warned that deep cuts to public safety would be on the horizon if the measures weren’t approved. Measure K will raise the city’s business license tax for a projected $4.6 million in annual revenue. Measure L, a special parcel tax on non-residential lots, is expected to bring in another $1.9 million over the next decade.

Submitted by Nicki Arnold on Thu, 04/11/2013 - 11:30am

Indio Council Member Looks to Tax Coachella Tickets

This weekend and next, over 80,000 music fans will trek to the valley for the famous (or infamous) Coachella, formally the Coachella Valley Music and Arts Festival, in the City of Indio. When the festival started 14 years ago, the Indio City Council was supportive and wanted the music fest to succeed. Now that it has—in a huge way—one council member wants a piece of the revenue. 

Submitted by Nicki Arnold on Thu, 04/11/2013 - 11:25am
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