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- Written by: Lake County News Reports
Total revenues of $6.63 billion for July were lower than anticipated by $294.7 million, or 4.3 percent.
While sales taxes missed the mark, personal income tax (PIT) and corporation tax – the other two of the “big three” revenue sources – came in higher than projected.
For July, PIT receipts of $5.22 billion were $231.7 million, or 4.6 percent, more than expected.
July corporation taxes of $446.4 million were $82.2 million, or 22.6 percent, above 2018-19 Budget Act assumptions.
Sales tax receipts of $818.4 million for July were $659.1 million, or 44.6 percent, less than anticipated in the FY 2018-19 budget. Most of the variance was due to when the money was recorded.
At the beginning of FY 2018-19, the state’s General Fund had a positive cash balance of $5.54 billion. Receipts were $3.62 billion less than disbursements in July, which left a cash balance of $1.92 billion at the end of the month.
There was no internal borrowing, which was $2.19 billion less than the 2018-19 Budget Act estimated the state would need by the end of July. Unused borrowable resources were 7.5 percent higher than projected in the budget.
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- Written by: California Treasurer's Office
SACRAMENTO – California State Treasurer John Chiang and AARP on Wednesday released the second in their ongoing series of CalSavers promotional videos called “CalSavers Overview.”
“CalSavers will not only help stem the tide of the silver tsunami we know is coming, but it will be a new and easy way for more than 7.5 million hard-working Californians to save for retirement through automatic payroll deductions,” said Treasurer Chiang. “And for their employers, the millions of small-business owners focused on running their businesses, it’s even better – no administrative headaches, an easy registration process, and, best of all, it won’t cost them anything.”
CalSavers is a state-backed program that will offer employees access to a completely voluntary, low-cost, portable retirement savings vehicle, featuring professionally managed investments and oversight provided by a public, transparent board of directors.
“CalSavers offers a simple way for millions of Californians to save for their future,” said Nancy McPherson, California State Director at AARP. “That is why AARP strongly supports the CalSavers program and is eager to spread the word about how it will benefit working Californians.”
Deborah Lowe Muramoto, Executive Director of the Women’s Business Center, added, “What excites me the most about this retirement savings program – it addresses the issue of lack of access for small businesses.”
CalSavers will begin their pilot run this fall, and open statewide next year. Employers with 100 or more employees, which do not already offer a retirement plan, will have one year from the full program launch date to register, where employers with 50 or more employees and those with 5 or more employees will have two and three years, respectively.
For more information about CalSavers visit www.treasurer.ca.gov/scib.
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- Written by: AAA Northern California
The company is offering services at the following locations:
· AAA Branch Office, 1464 Parallel Drive, Lakeport, weekdays from 9 a.m. to 6 p.m.
· Twin Pine Casino & Hotel, 22223 Highway 29, Middletown, 8 a.m. to 7 p.m. The American Red Cross is also located at this site.
Each location is fully staffed with employees to assist AAA insurance customers with auto and home claims, and to provide additional help as needed.
AAA Northern California insurance customers who have suffered damage to their homes or vehicles may also call AAA Northern California for assistance at 800-922-8228.
Among the services being provided by AAA Northern California:
· To help with immediate living expenses, debit cards are available for those with covered homeowners losses insured through AAA Northern California, who have been displaced from their homes.
· Emergency road service is available to AAA members who have cars damaged by wildfire.
· CSAA Insurance Group, a AAA insurer, is working with local Hertz offices to provide rental vehicles to those who have lost or damaged cars.
· Packages with personal care items and teddy bears for children are also available.
AAA Northern California offers a wide array of automotive, travel, insurance, DMV, financial services and consumer discounts to over 4 million members. AAA has been a leader and advocate for the safety and security of all travelers since it was founded more than 100 years ago.
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- Written by: California Department of Insurance
Insurance Commissioner Dave Jones urges wildfire survivors to be aware about the dangers of hiring unlicensed contractors as they begin the recovery process and to be on the lookout for scam artists trolling the area.
"A wildfire leaves more than burned homes and uprooted lives in its wake," said Jones. "These catastrophes also can blow in fly-by-night unlicensed contractors and door-to-door scam artists eager to capitalize on the misfortunes of innocent and traumatized wildfire survivors."
The most common fraud schemes that occur in the aftermath of a disaster generally involve price gouging, offers of debris removal, and fraudulent charitable solicitations.
Because property loss from a disaster can be so traumatic, victims of disaster can become easy targets for fraud. It is important to keep a sharp lookout for people who try to play on the emotions of those stricken by disaster.
Public adjusters are prohibited from soliciting business until seven days have elapsed since the conclusion of a disaster unless the public adjuster is contacted directly by the insureds or the insured's representative.
Consumers that have any difficulty with their insurer or concerns about a potential scam artist are urged to contact the Department of Insurance's Consumer Hotline at 800-927-4357.
Tips from the Contractor's State License Board (CSLB) for hiring a contractor:
– Don't rush into repairs, no matter how badly they're needed;
– Don't hire the first contractor who comes along, or sign over any payment checks from your insurance company;
– Hire only licensed contractors and ask to see their plastic CSLB pocket license and a photo ID;
– Get bids from at least three licensed contractors, and don't necessarily take the lowest bid, especially if it's much lower than other bids;
– Always check the license number on CSLB's website at www.cslb.ca.gov or www.CheckTheLicenseFirst.com , and contact the business directly if you have any questions;
– Get three references from each bidder, and view their previous work in-person;
– Get your contract in writing;
– In most cases, in a disaster area you have up to seven business days to cancel your contract without penalty;
– Get more tips at www.cslb.ca.gov or www.CheckTheLicenseFirst.com.
Tips for hiring a public adjuster:
– Consider trying to settle your claim directly with your insurance company before hiring a public adjuster or an attorney. Your insurer provides an adjuster at no charge to you.
– Ask your insurance agent or company representative to help you with your claim and don't be afraid to ask questions.
– If you hire a public adjuster to help you with a claim, make sure they are licensed. You can check their license status by calling our toll-free consumer hotline or checking the department's Web site.
– Public adjusters usually require a percentage of the claim settlement for their services. Make sure you understand what they charge and the services you are paying for before you sign a contract.
– Public adjusters are not allowed to solicit business or initiate any contact with a policyholder between the hours of 6 p.m. and 8 a.m.