1. Lambda Alpha International Orange County Chapter

2. Who Am I? CSULB College of Business Administration – 1977
Distinguished CBA Alumni – 2014
CPA Firm – 1976 to 1995
Partner – Balser, Horowitz, Frank & Wakeling
Now Ronald Blue & Co.
OC Treasurer-Tax Collector –
OC Supervisor, 2nd District –
California State Senator, 37th District – March 2015-?
Theme – Like to fix organizations

4. Five Key Measurements of California’s Fiscal Health
1. Tax Rates
*The state has the nation’s highest income, sales and gas taxes, when cap and trade is included.

5. Five Key Measurements of California’s Fiscal Health
1. Tax Rates
*The state has the nation’s highest income, sales and gas taxes, when cap and trade is included.
*California also has the highest corporate tax in the western United States and the fourteenth highest property tax.

6. Five Key Measurements of California’s Fiscal Health
1. Tax Rates
*The state has the nation’s highest income, sales and gas taxes, when cap and trade is included.
*California also has the highest corporate tax in the western United States and the fourteenth highest property tax.
*Puts California fourth in overall tax burden on a per capita basis.

7. Five Key Measurements of California’s Fiscal Health
2. Unfunded Pension Obligations
*The Legislative Analyst’s Office estimates current CalPERS, CalSTRS and UC Pension unfunded liabilities at approximately $140 billion.

8. Five Key Measurements of California’s Fiscal Health
2. Unfunded Pension Obligations
*The Legislative Analyst’s Office estimates current CalPERS, CalSTRS and UC Pension unfunded liabilities at approximately $140 billion.
*Pew Charitable Foundation, using 2012 data, found California is ranked highest in the nation for unfunded pension obligations

10. Five Key Measurements of California’s Fiscal Health
3. Unfunded Retiree Medical Obligations
*In 2013 California ranked second in the nation with $66.0 billion in unfunded retiree medical costs. New York was number one at $67.7 billion.

11. Five Key Measurements of California’s Fiscal Health
3. Unfunded Retiree Medical Obligations
*In 2013 California ranked second in the nation with $66.0 billion in unfunded retiree medical costs. New York was number one at $67.7 billion.
*California State Controller’s 2014 data suggests that California has since surpassed New York and now has $71.8 billion in liabilities.

12. Five Key Measurements of California’s Fiscal Health
4. Deferred Infrastructure Maintenance
*California has 31,827 miles of major roads and at least 34 percent of these are rated in “poor” condition.

13. Five Key Measurements of California’s Fiscal Health
4. Deferred Infrastructure Maintenance
*California has 31,827 miles of major roads and at least 34 percent of these are rated in “poor” condition.
*The Reason Foundation’s Adrian Moore recently pegged the unfunded road maintenance number at $59 billion.

14. Five Key Measurements of California’s Fiscal Health
5. Unrestricted Net Assets/Deficits
*California’s most recent Comprehensive Annual Financial Report (CAFR) shows an unrestricted net deficit of $117 billion.

15. Five Key Measurements of California’s Fiscal Health
5. Unrestricted Net Assets/Deficits
*California’s most recent Comprehensive Annual Financial Report (CAFR) shows an unrestricted net deficit of $117 billion.
*The unrestricted net assets (or deficit) is a summary of the state’s available assets after removing fixed assets, minus related outstanding debt obligations, nongovernmental activities, and funds belonging to others.

16. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/99 $ 1,533,113 $ 46 Wilson/Davis

17. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/99 $ 1,533,113 $ 46 Wilson/Davis 6/30/00 6,531, Davis

18. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/99 $ 1,533,113 $ 46 Wilson/Davis 6/30/00 6,531, Davis 6/30/01 7,001, Davis

19. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/99 $ 1,533,113 $ 46 Wilson/Davis 6/30/00 6,531, Davis 6/30/01 7,001, Davis 6/30/02 (19,417,429) (553) Davis

20. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/99 $ 1,533,113 $ 46 Wilson/Davis 6/30/00 6,531, Davis 6/30/01 7,001, Davis 6/30/02 (19,417,429) (553) Davis 6/30/03 (43,927,987) (1,238) Davis

21. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/99 $ 1,533,113 $ 46 Wilson/Davis 6/30/00 6,531, Davis 6/30/01 7,001, Davis 6/30/02 (19,417,429) (553) Davis 6/30/03 (43,927,987) (1,238) Davis 6/30/04 (52,897,395) (1,474) Davis/Arnold

22. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/99 $ 1,533,113 $ 46 Wilson/Davis 6/30/00 6,531, Davis 6/30/01 7,001, Davis 6/30/02 (19,417,429) (553) Davis 6/30/03 (43,927,987) (1,238) Davis 6/30/04 (52,897,395) (1,474) Davis/Arnold 6/30/05 (52,631,090) (1,457) Arnold

23. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/06 (54,710,847) (1,514) Arnold

24. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/06 (54,710,847) (1,514) Arnold 6/30/07 (56,519,478) (1,546) Arnold

25. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/06 (54,710,847) (1,514) Arnold 6/30/07 (56,519,478) (1,546) Arnold 6/30/08 (69,346,950) (1,887) Arnold

26. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/06 (54,710,847) (1,514) Arnold 6/30/07 (56,519,478) (1,546) Arnold 6/30/08 (69,346,950) (1,887) Arnold 6/30/09 (86,302,434) (2,335) Arnold

27. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/06 (54,710,847) (1,514) Arnold 6/30/07 (56,519,478) (1,546) Arnold 6/30/08 (69,346,950) (1,887) Arnold 6/30/09 (86,302,434) (2,335) Arnold 6/30/10 (103,272,000) (2,772) Arnold

28. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/06 (54,710,847) (1,514) Arnold 6/30/07 (56,519,478) (1,546) Arnold 6/30/08 (69,346,950) (1,887) Arnold 6/30/09 (86,302,434) (2,335) Arnold 6/30/10 (103,272,000) (2,772) Arnold 6/30/11 (123,783,314) (3,285) Arnold/ Brown

30. Unrestricted Net Assets Per Capita State Comparison - 2011
1. Alaska (Teachers pension plan 9th underfunded) $ 27,767
Wyoming ,508
North Dakota ,705
Indiana (Teachers pension plan 4th most underfunded) 1,112
Ohio
Montana
West Virginia (Teachers pension plan 8th underfunded) 726
Nebraska
Delaware
Oklahoma

31. Unrestricted Net Assets Per Capita State Comparison - 2011
11. Arkansas $ 356
Idaho
Tennessee
Washington
Colorado
South Carolina
New Mexico
Texas
South Dakota
Kansas

32. Unrestricted Net Assets Per Capita State Comparison - 2011
21. Oregon $ 36
Utah
Iowa (7)
Nevada (83)
Missouri (DOT and Hwy Patrol 3rd most underfunded) (192)
Virginia (197)
Georgia (215)
Alabama (236)
New Hampshire (319)
Maine (326)

33. Unrestricted Net Assets Per Capita State Comparison - 2011
31. Pennsylvania $ (346)
North Carolina (392)
Minnesota (474)
Michigan (539)
Arizona (656)
Louisiana (Teachers 10th most underfunded plan) (730)
Florida (792)
Vermont (806)
Mississippi (900)
Rhode Island (1,370)

34. Unrestricted Net Assets Per Capita State Comparison - 2011
41. Maryland $ (1,411)
Wisconsin (1,708)
Hawaii (1,730)
Kentucky (1,848)
New York (2,076)
California (70%) (3,285)
Massachusetts (84%) (3,577)
Illinois (63%) (4,818)
New Jersey (60%) (5,014)
Connecticut (61%) (5,789)

37. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/06 (54,710,847) (1,514) Arnold 6/30/07 (56,519,478) (1,546) Arnold 6/30/08 (69,346,950) (1,887) Arnold 6/30/09 (86,302,434) (2,335) Arnold 6/30/10 (103,272,000) (2,772) Arnold 6/30/11 (123,783,314) (3,285) Arnold/ Brown

38. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/12 (123,897,753) (3,257) Brown

39. California June 30, 2012 Comprehensive Annual Financial Report
Total Net Assets (in thousands)
($199,955,466 - $215,406,153) $ (15,450,687)
Invested in Capital Assets, Net of Related
Debt (82,329,785)
Restricted Resources by Outside Parties (29,464,130)
Business Related Activities Net Assets 3,346,849
Unrestricted Net Assets (Deficit) $(123,897,753)
Per Capita ($3,257)

40. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/12 (123,897,753) (3,257) Brown

41. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/12 (123,897,753) (3,257) Brown 6/30/13 (117,383,903) (3,085) Brown

42. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/12 (123,897,753) (3,257) Brown 6/30/13 (117,383,903) (3,085) Brown 6/30/14 (116,948,128) (3,014) Brown

43. State of California Annual Unrestricted Net Assets
FYE UNA Per Capita Governor 6/30/12 (123,897,753) (3,257) Brown 6/30/13 (117,383,903) (3,085) Brown 6/30/14 (116,948,128) (3,014) Brown 6/30/15 ~(220,000,000) (5,670) Brown

50. Growth in State’s General Fund
$33.1 Billion
$65.9 Billion

58. Sonoma County voters reject Measure A
Ryan Rabellino, a supporter for Measure A, writes down the absentee ballot results during a gathering at Mary's Pizza Shack in downtown Santa Rosa, Tuesday, June 2, (CRISTA JEREMIASON / The Press Democrat)

64. Thank you!