With their funding on the chopping block under Governor Jerry Brown's proposed state budget, State Controller John Chiang has announced his auditors were beginning reviews of 18 redevelopment agencies (RDA) across the state in an effort to obtain facts on how RDA funds are used and the extent to which they comply with laws governing their activities. more ›

The City of Bell's financial troubles--namely the sky-high salaries of their top officials--were not unknown to their auditors, according to a review published today by State Controller John Chiang. In his quality-control review of the audits conducted by Bell's audit firm, Mayer Hoffman McCann (MHM), Chiang found that the auditor "appears to have been a rubberstamp rather than a responsible auditor committed to providing the public with the transparency and accountability that could have prevented the mismanagement of the City’s finances by Bell officials." more ›

Last night Jerry Brown was named Governor, Barbara Boxer retained her Senate seat, and Gavin Newsom won the Lt. Governor's race. While who will take Brown's job as Attorney General still remains too tight to call, the rest of the state-level contests have been declared, and, when applicable, in favor of the Democrats. more ›

As promised in August, State Controller John Chiang has launched a website detailing the salaries and other compensation of city and county governments throughout California. The move followed the city of Bell scandal, in which employees and part-time city councilmembers of the Southeastern L.A. County municipality were found to be earning sky high salaries and now face charges. more ›

State Controller John Chiang announced yesterday that he has ordered the City of Bell to return $2.9 million in property tax revenue that has been collected illegally--and in excess--since 2007, according to the LA Times. more ›

Just a day after L.A. City Controller Wendy Greuel announced that she will publish city salaries online, California State Controller John Chiang said he will be doing the same. “The absence of transparency is a breeding ground for waste, fraud, and abuse of taxpayer dollars,” said Chiang... more ›

District Attorney Steve Cooley yesterday said his office has been investigating the city of Bell since March, but until now, the focus was only towards the $100,000 part-time salaries given to City Councilmembers, according to the LA Times. His investigation included how councilmembers were able to make such a high salary when the meetings that earned them that amount -- council meetings earned them very little, per state law, the money was made by serving on commissions and other panels -- rarely took place, and if they did, reportedly lasted shortly. more ›

California currently has a $22.3 billion cash deficit, but the latest cash flow report from the State Controller's office today revealed that revenues are $480 million above budget estimates. Translation: this is a good sign, but we're not out of the water yet. more ›

State Controller John Chiang today said the issuance of IOUs instead of paying bills can stop on September 4th. His suggestion still must be approved by the Pooled Money Investment Board, which controls the state's cash flow, according to the Sacramento Bee. In July, California began issuing IOUs because a revised budget was not in effect. So far, 327,000 totaling $1.95 billion have been sent out. "The State of California owes a debt of gratitude to the thousands of individuals and businesses that were forced to bear the brunt of the State's chronic fiscal mismanagement," Chiang said. more ›

A state board voted today to hand out IOUs that will be repaid on October 2nd at the earliest. Although Governor Arnold Schwarzenegger's staff wanted a repayment date to be set for as last as next year June with an 1.5% interest rate, staff with Controller John Chiang said people need their money and next year would be too late. Ultimately, the Pooled Money Investment Board sided with Chiang and put the interest rate at 3.75%. "In 1992, CA IOUs were at 5% interest," twittered John Myers from KQED, noting that it will be interesting to see if people buy and sell IOUs hoping to make a profit. Wells Fargo and Bank of America have said they're willing to accept IOUs before July 10th. $140 million in IOUs will be sent to people expecting income tax returns. A full list of where IOUs will be going is here. more ›

Come June 15th--that's just 13 days from now--the state of California could be a path to having no money, Governor Arnold Schwarzenegger told the legislature yesterday. Tough choices lie ahead, such as those we've been hearing about since last week like the cutting of most all state parks and all of welfare. He's urging lawmakers to pass those budget proposals within the next two weeks, a short time to solve a $24 billion deficit. more ›

After deferring a $150 million payment to Los Angeles County, the Board of Supervisors has voted to take California's controller, John Chiang, to court. The payment was withheld because of the ongoing budget crisis; the Board, however, calls the deferment unconstitutional and says the revenue the state owes the county is badly needed," abc7.com is reporting. Los Angeles is not the first, or only county in California to sue the state and the controller. San Bernardino County's Board of Supervisors also voted to sue when a $204 million payment needed for welfare and other programs was deferred this month. Other lawsuits are coming from San Diego, Sacramento, and San Joaquin Valley, too. more ›

That's how bad the budget is. State Controller John Chiang today announced that he will have to delay $3-plus billion payments, including state income tax refunds, health, welfare, education and other programs. "With no signs of an economic recovery in sight, it is critical that the Governor and the Legislature enact a sound budget solution that provides much-needed cash by February 1," Chiang's website stated. "If not, the State will be $346 million in the red at the end of February, and $5.2 billion in the red in April." Payments will be doled out 30 days late, but if February 1st comes around and no budget is set, they could be delayed another 30 days. more ›