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Fred Silva SR. FISCAL POLICY ADVISOR

Thinking ahead. About the future of. State & local finance. Fred Silva SR. FISCAL POLICY ADVISOR. WHAT IS CA FWD? . The California Endowment. The Haas, Jr. Fund. 5 foundations. The Hewlett Foundation. The Irvine Foundation. to reshape the future of CA. The Packard Foundation.

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Fred Silva SR. FISCAL POLICY ADVISOR

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  1. Thinking ahead About the future of State & local finance Fred SilvaSR. FISCAL POLICY ADVISOR

  2. WHAT IS CA FWD? The California Endowment The Haas, Jr. Fund 5 foundations The Hewlett Foundation The Irvine Foundation to reshape the future of CA The Packard Foundation by changing the way our government operates

  3. MODERATE GROWTH 2013-14 STATE BUDGET personal income labor force unemployment

  4. CHANGING COMPOSITION & “BALANCE” MODERATE GROWTH 2013-14 STATE BUDGET personal income GENERAL FUND SPECIAL FUNDS FISCAL YR 2010-11 labor force 2013-14 73% 27% 58% 42% unemployment

  5. LONG-TERM OBLIGATIONS MODERATE GROWTH BALANCE 2013-14 STATE BUDGET projected proposed personal income revenues wall of debt spending labor force pensions general funds special funds (42%) debt service unemployment

  6. LOCAL FINANCE general purpose revenues have changed property tax base annual growth has declined property tax/VLF swap has increased local revenues

  7. LOCAL FINANCE general purpose revenues have changed decline in annual property tax growth South Bay Cities pre-recession growth: 5-7%/yr property tax base annual growth has declined property tax/VLF swap has increasedlocal revenues South Bay Cities current growth: 2.4%/yr

  8. FUTURE CHALLENGES matching revenues with responsibility state gov’t increasing transparency local gov’t bolstering state reserves

  9. CAFWD.ORG CAECONOMY.ORG

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