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City of Camarillo Approves $179.7 Million Dollar Budget

City of Camarillo Approves $179.7 Million Dollar Budget

Camarillo, California – On June 12, 2019, the Camarillo City Council adopted a structurally balanced $179.7 million annual budget for Fiscal Year 2019/20, to provide services and fund projects that are vital for the well-being of Camarillo residents. “Overall, the City’s financial position remains in excellent condition,” stated City Manager Dave Norman. “The City Council […]

Oxnard Council Warns of $10MM Deficit; Approves Underfunded $437MM Capital Plan; Mandalay Bay Residents Sound the Alarm on City Seawalls; Housing Dept. Capital Plan Approved

Oxnard Council Warns of $10MM Deficit; Approves Underfunded $437MM Capital Plan; Mandalay Bay Residents Sound the Alarm on City Seawalls; Housing Dept. Capital Plan Approved

By George Miller On April 2, 2019, the Oxnard Council tried to get its arms around a massive five year $437 million capital capital spending plan assembled by Public Works, Finance and other departments. While there seemed to be agreement on the needs, it was clear that there wasn’t consensus on priorities and that it […]

Santa Paula’s Finances on a Precarious Path | VCTA, Ventura County Taxpayer Association

Santa Paula’s Finances on a Precarious Path | VCTA, Ventura County Taxpayer Association

By Ventura County Taxpayers Association (VCTA)   The City of Santa Paula is in trouble and elected officials don’t appear concerned. For some years now, it has been spending reserves to cover operating losses. Reserves have been depleted to dangerous levels. The five-year budget projects losses even with the benefit of the East Area development. The […]

Oxnard Council 3-27-18: Pension liabilities could hit the fan; Downtown Revitalization “Parklets”; $48MM in debt renewed.

Oxnard Council 3-27-18: Pension liabilities could hit the fan; Downtown Revitalization “Parklets”; $48MM in debt renewed.

By George Miller Consultants darkly warned the City of exploding pension liabilities and necessary funding, doubling in 5 years and mushrooming for the next two decades. Some off-agenda discussion on disposition of Redevelopment Successor Agency properties, which are taking a long time. Downtown “parklets” plan approved. $38MM debt refinancing and $10MM Line of credit approved. […]

County launches rental assistance program for fire victims

County launches rental assistance program for fire victims

VENTURA, Calif. – Today the County of Ventura Board of Supervisors approved the use of $500,000 in General Fund to establish a rental assistance program for eligible residents who cannot return to their homes due to the impact of local wildfires.  The program, which expands upon current rental assistance programs for low-income households administered by […]

Standard & Poors downgrades Oxnard (again)

Standard & Poors downgrades Oxnard (again)

By George Miller Rating agency Standard & Poors downgraded Oxnard’s General Fund from A to A-. They cited a number of factors which impelled them to do this, but also pointed out some positive developments. Part of S&P summary: S&P Global Ratings lowered its long-term rating to ‘A-‘ from ‘A’ on the Oxnard Financing Authority, […]

Santa Paula Fiscal Year 2015-2016 Budget Analysis

Santa Paula Fiscal Year 2015-2016 Budget Analysis

By Sheryl Hamlin This analysis will look first at the budget for the last five years and where there are red flags for future sustainability Salary and Benefits Growth Disproportionate to Revenue Growth The data below taken from the Adopted FY15/16 Budget summarizes citywide ‘Salaries’ and ‘Benefits’ for the last four fiscal years along with […]

Budget and “headcount”: why so important?

Budget and “headcount”: why so important?

By Larry Stein “Headcount” refers to the number of full time equivalent people in an organization, department or project. Some people ask me about my obsession with headcounts. In small businesses, owners know who works for them, since they usually sign the paychecks and hand them out personally. As businesses grow the practice of personally […]