Government Finance and Operations
Unwinding the Triple Flip
AS the state prepares to pay the last of its Economic Recovery
Bonds this summer, counties get ready to unwind the complicated
fiscal maneuvers that gave the Triple Flip its name.
For the last ten years, the state has been taking a portion of local sales and use taxes as a dedicated revenue stream to pay down the bonds. To keep county and city general funds whole, county auditor-controllers have been shifting property taxes from schools, using the ERAF accounts the state created in each county in the 90s. The state then ensures schools are funded at the appropriate levels pursuant to the Proposition 98 guarantee.
The state has recently begun meeting with representatives of CSAC, the League of Cities, and other organizations to make sure that everyone is on the same page about exactly how and when this series of funding flips will end.
At this point, the most likely scenario is that the local sales and use tax rate will revert back to locals on January 1, 2016. In the meantime, CSAC and the state Department of Finance will continue to communicate with county auditor-controllers and CAOs so they can appropriately manage cashflow during this transition.
Future of California Elections Conference Next Week
The Future of California Elections is an organization the brings
county election officials together with civil rights
organizations and election reform advocates in an effort to
modernize elections and expand participation in California.
Though the organization is only a few years old, it has already changed the nature of election reform conversations in California. And their conference next week will continue the dialogue about what changes are appropriate and achievable.
Sessions at the conference will explore voter registration, young voters, language access, voters with disabilities, improving the voter guide, and of course funding challenges.
You can find more information at FoCE’s website.