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9A <br /> Page 4 <br /> • State Budget hti�:l/w+�n�v.cacitiss.�r�irescsurce fifss12674�.FINAL 6ssue Paper Stdte <br /> �.�d� <br /> • Glimate Chartge!�ttp:/,�.r.acities.oratresource *�te�12674{i FIN,�L Fssue Paper Ctima.e <br /> Chanqe.rtf <br /> • ir�trastructu�and Eoonamic Stimulus <br /> http�/�wsr�v cac�ties orqfresc�urce fi►esi2B741 Fk€�Al.lssuePar�rlrfras+ru�tu��andEconor,�i <br /> cStimlus.ri# <br /> 'npru eosrd�Ae�ng°continued tram Page 7... <br /> State Btrdget DiscttssMn <br /> Mike Genest,dir�ec#vr.[]epartment of Fin�oe,Diane Cummins,Office of Senate Pro Tem flon <br /> Perata and Ridc Pratt, asststant executive director,Caiifomia Schooi Boards Association, <br /> conducted a panel�scussion on the looming state budget aisis_Each provided insight based on <br /> their expert perspectives. <br /> Genest,who addressed the Legislative Action Days'VVednesday general session,acknow�dged <br /> the d'�ff'icuiry of this year's budgei. He spoke about the Govemo�'s propose�l canstitutional <br /> amen�nent which woutd create a rainy day fund to capt�e revenues d�uti►►g boom years to save <br /> for years like thss one.Part of the Govemor's p(an inciudes cxeating a mechanism to redt�ce <br /> spending faster than is possibie now to help stave off such a Iarge projected deficit. <br /> The Finance directar said that borraw+ng Prop. 1A#unds w�ouid be terribie�r Califomia beca�ue <br /> the pay-E�acic peria4 is so shorE it would make recovery more d'�ff'ic�tt.Althouyh right now the <br /> Govemor is leaving ap budget options on the tabie,he said that he hopes 1 A won't be used. <br /> Diane Cumrriins said tt�e day uf reciconing is here.As a 30-year veterar��s#�ate bualget <br /> negatiations,she said she's never sean a woorse budge#,I�gely because al!pf the easy solutions <br /> have already been used. <br /> Speaking to the 6oard,Cummir�s commented"We have to close the gap and are goirtg to make <br /> majcx reduciions.!f we qn't ge�revenue tt�en thase cuts are gang to be more devastatir�g." <br /> Rick Prdft said that aithough schoois had weathered previous budget shortfa�ls,nathing <br /> compares to#his year's budget.He tofd tt�board that school boards had ta send out pink slips <br /> March 15 t�ecause they have�final¢e their budgets for the c�ming year by J�y 1,ev�if the <br /> skate taiis to finish its aan.Echoing Cummins remadcs,Pratt commented H�at we need a <br /> balanced apQroach to the budget because cuts can't solve the probtem entirely. <br /> The baard had a preliminary discussion of a proposed League poiicy-statement on the state <br /> budget crisis.It wilt meet next weelc by canFerenoe ca►1 to f�na�ize tne statement. <br /> State Treasurer Bill Lodcyer briefed the board on his work iop reform the municipa!bond rating <br /> system.Please�ead"State Treasurer Lockyer Br[efs League Board on Municipal Bond Rating <br /> System,'ort page 1 for a fuf#disa.ission of fiis prese�ation_ <br /> Strategic Priori#ies <br /> The board was briefed on the League's strategic priorities.Ttie short update on the prior�ty to <br /> "protect fimding for vital commwuty services,"pr�eceded the budge�preser�tatron by Genest, <br /> Cummins and Prd�tk. <br /> The boaM was briefed on the ssoond Prro�itY,"support gr�en a�i sustainabfe cities'wifh a <br /> discussian on the Insfitute for Local Govemmer�t's(lL.G}wonc on ctima#e change and an upda�e <br /> on the League's wor'!c on SB 375(Steinberg). <br /> 4 <br />