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Budgets and Budgeting

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  • Homeowner accounts are not the board's slush fund

    Homeowner accounts are not the board's slush fund
    Question: Our homeowner association's president explained to our board how the budget process actually works. She said: "You start by working out how much you can get out of the homeowners, then you go to the Budget and Reserve Study to figure out how to get that result. The reserve study company will work with us by doing a couple of go-arounds to get us to the result we want." Am I being naive to think the job of a reserve study company is to come up with realistic numbers, instead of numbers that fit the board's agenda?
  • California's economic stability leaves Gov. Brown a new challenge

    California's economic stability leaves Gov. Brown a new challenge
    SACRAMENTO — Soon after Jerry Brown was elected governor in 2010, he invited the state's top budget official, Ana Matosantos, to lunch at his office. He had just two months to prepare his first plan for tackling California's $26-billion deficit....

    L.A. faces three more years of deficits, budget official says

    L.A. faces three more years of deficits, budget official says
    Los Angeles faces budget deficits through 2018 even if elected officials keep a lid on spending and secure new concessions from the workforce, the top financial analyst at City Hall warned Thursday. In a memo to the City Council, City Administrative...

    California needs a rainy-day fund that works

     California needs a rainy-day fund that works
    At Gov. Jerry Brown's request, lawmakers will start working next week on a rainy-day fund to better prepare the state for the inevitable next downturn. The fund is such a sensible idea that the state already has one: the Budget Stabilization Account,...

    Budget official sees three more years of deficits at L.A. City Hall

    Budget official sees three more years of deficits at L.A. City Hall
    Los Angeles will confront revenue deficits in each of the next three budget years, even if elected officials keep a lid on spending and secure new concessions from the workforce, the top budget analyst at City Hall warned Thursday. In a memo to the City...