Public pensions are mixing risky investments
More than 20 million Americans are covered by state and local government pensions. Unlike the 401(k) plans found in the private sector, these “defined benefit” plans promise to pay retirees a set amount of money every month for the rest of their lives.
For most public workers, these generous programs are a cornerstone of their financial security; for many, they’re one of the main attractions of government jobs. Yet the plans, by their own reckoning, are underfunded to the tune of $1.6 trillion.
A BigThank You Is In Order To Mayor Badame
A big thank you is in order to Mayor Badame who provided the leadership over the HE drafting process after a year of the TC allowing Staff to directly control the HE drafting process. By establishing a focused Town Council … Continued
Doing a “deep” dive into Moore’s Myths and Misconceptions in his “newsletter”.
Executive Summary: Debunking Moore’s Claims on Land Use and Housing This document criticizes Los Gatos council members’ Moore’s and Ristow’s handling of land use and housing issues. Here are the key points: 2040 Land Use Element: Ristow and Moore … Continued
Builders can challenge ‘impact fees’ in California, court says
A Quick Summary: Ruling: The Supreme Court ruled unanimously that developers and home builders in California have the right to challenge the fees commonly imposed by cities and counties for public infrastructure projects. These fees, known as “impact fees,” may be deemed unconstitutional if … Continued
Council to Review the Status of the Referendum on 4-2-24
Elections Code Section 9241 requires that the Town Council either 1) place the referendum on
the ballot for the November 2024 general election or 2) rescind its adoption of the Land Use
Element and the Community Design Element. At its October 2022 meeting, the Town Council
deferred making a decision as to which of these actions to take pending consideration of the
then-upcoming Housing Element adoption. The options are discussed in more detail below.
Once this primary decision has been made, there are other possible steps for the Town Council
to direct staff to take, which are included elsewhere in this document.
Achieving a Structurally Balanced Budget
BEST PRACTICES GFOA Achieving a Structurally Balanced Budget Adopt rigorous policies, for all operating funds, aimed at achieving and maintaining a structurally balanced budget. Most state and local governments are subject to a requirement to pass a balanced budget. However, … Continued
March revised draft of Los Gatos 2023-2031 Housing Element
Program J addresses HCD’s concerns about fair housing goals in the Town’s Housing Element, aiming to create a more inclusive community through increased housing mobility. While supportive of the goal, the LCGA has concerns about implementation methods.
Are We Being Manipulated Again ?
The following letter was sent to the Council and Staff on 2-18-24 by the Chair of the Finance Commission Phil Koen. I have been watching the Town Manager and her supporters, Councilmembers Ristow and Moore, try to manipulate the citizens … Continued
The Difference Between a Sustainable Budget and a Balanced Budget
A balanced budget isn’t always a healthy one. http://www.governing.com/finance101/gov-what-is-a-sustainable-budget-vs-a-balanced-budget.html BY LIZ FARMER | MAY 12, 2014 This is part of an ongoing series called Finance 101 that explains the basics of public finance for public officials. Most states and many municipalities are legally required … Continued