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- Written by: State Controller's Office
Personal income tax, corporation tax, and sales and use tax increased by $5.70 billion, $1.90 billion, and $84.2 million, respectively. At June 30, 2017, the General Fund cash balance of $5.93 billion equated to 19 days of state operating expenditures.
The state’s general revenues increased by $8.00 billion, or 5.7 percent, over the prior year – significantly more than the 1.0 percent growth experienced in fiscal year 2015-16.
For the fiscal year, the state’s revenue exceeded expenses by $9.40 billion for governmental activities, marking the fifth consecutive year the state’s financial position improved.
California had a net pension liability of $86.07 billion as of June 30, 2017. The state had $243.87 billion in total long-term obligations including bonds, pensions, loans, and leases.
“While California’s economy is vibrant and rainy day fund reserves are strong, we must not become complacent. An economic downturn may very well be on our doorstep,” said Controller Yee, the state’s chief fiscal officer. “I support the governor’s focus on paying down debts and liabilities to counter the potential fiscal impact of federal policy changes on California and the lurking end of economic expansion.”
The CAFR, prepared by the Controller’s team each year, adheres to generally accepted accounting principles and follows guidance from the Governmental Accounting Standards Board, or GASB.
Independently audited by the California State Auditor, the CAFR allows apples-to-apples comparisons between entities, which is valuable to the public, financial experts and investors.
- Details
- Written by: California State Board of Food and Agriculture
The meeting will be held at the California Department of Food and Agriculture, 1220 N Street – Main Auditorium, Sacramento, CA 95814. In addition to an update on California’s water situation, the board will hear perspective from South Africa on the impending ‘Day Zero’ in Cape Town – where drinking water supplies could run out in the coming months.
“Over the last two years I’ve had the opportunity to visit several countries impacted by drought as well as limited groundwater supplies,” said CDFA Secretary Karen Ross. “What sets California apart, is our forward thinking approach to long term challenges and a commitment by farmers and ranchers to be part of the solution. Water availability is critical to all sectors of our economy, including cities, agriculture and the environment.”
Invited speakers include: Region Director David Murillo, U.S. Bureau of Reclamation Mid-Pacific Region, Director Karla Nemeth, California Department of Water Resources; Erik Ekdahl, State Water Resources Control Board; Ronald Samuelian, Provost & Pritchard Consulting Group; Jason Pucheu, Maricopa Orchards; and Christina Babbitt, Environmental Defense Fund (EDF).
The board will also hear presentations by Jeremy Gorelick (USAID Program/South Africa) and Anton Rabe (HORTGRO) via skype discussing ‘Day Zero’.
In addition, the board will hear an update on sustainable groundwater management.
Representative from Maricopa Orchards and Provost & Pritchard Consulting Group will provide perspective on groundwater challenges from a critically overdrafted groundwater basin.
“While recent weather conditions have been beneficial, we are still below average on statewide snowpack,” said President Don Cameron, California State Board of Food and Agriculture.
“Hearing from federal and state water officials on our water outlook is critical to growers not just in the Central Valley, but throughout the state as we plan for the next water year.”
The California State Board of Food and Agriculture advises the governor and the CDFA secretary on agricultural issues and consumer needs. The state board conducts forums that bring together local, state and federal government officials, agricultural representatives and citizens to discuss current issues of concern to California agriculture.
All meetings are open to the public and attendance is welcome.
Follow the board on Twitter at: www.twitter.com/Cafood_agboard.
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- Written by: Clear Lake Chamber of Commerce
Photo La Quinta won the Clear Lake Chamber's business card drawing during the chamber’s March mixer.
Photo La Quinta specializes in product shoots, landscape photos, and exterior and interior photo shooting.
Located in the Clearlake Oaks, Photo La Quinta is an owner-operated business since 2004. It is known locally for having reasonable prices and on location shoots.
Joining the Chamber in 2016, Anu Ylonen is an active valued member of the Clear Lake Chamber of Commerce, serving as a chamber ambassador since she joined the chamber.
Watch the media for the chamber’s next mixer and the chance to become its next business of the month.
Formed in 1947, the Clear Lake Chamber of Commerce is the original business chamber in Lake County. Its headquarters are located at 14295 Lakeshore Drive in Clearlake.
The chamber is a network of active business owners who work together to provide support and advocacy for Lake County businesses in order to promote Lake County’s growing economy.
Businesses interested in expanding their market share are encouraged to join the chamber by contacting office manager Patrick Prather at 707-994-3600.
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- Written by: California State Fair
SACRAMENTO – As California’s extra virgin olive oil becomes one of state's fastest growing agricultural industries, the California State Fair awards the best olive oils in the Golden State in the California State Fair Extra Virgin Olive Oil Competition.
This year, our expert judges were led by Orietta Gianjorio who is an internationally certified sensory evaluator of olive oil and former member of the UC Davis and California Olive Oil Council tasting panels.
Together, the judges analyzed and evaluated 189 of the best olive oils grown, processed and bottled right here in California.
“The purpose of this competition is to promote quality, and find olive oil made with passion and integrity,” said Gianjorio. “I am pleased with the level of professionalism and expertise, as well as the number of outstanding oils we tasted. This really is the Best of California!”
Double gold, gold, silver and bronze awards are given based on individual merit. Best of show, best of class and best of California awards are given by comparison tasting among eligible entries of 94 points or higher.
The 2018 Top California State Fair Olive Oil Competition winners are:
– Best of Show for Extra Virgin Olive Oil: Wild Groves Robust Blend of Newcastle.
– Best of Show for Flavored Olive Oil: Sciabica’s California Olive Oil for Basil flavored.
– Double Gold (99 points): Frate Sole Olive Oil’s Tuscan Blend.
– Best of California Extra Virgin Olive Oil, Microproducer: Ciarlo Fruit & Nut’s The “Hood.”
– Best of California Artisan Producer: Frate Sole Olive Oil Tuscan Blend.
– Best of California Extra Virgin Olive Oil, Large Producer: Wild Groves Robust Blend.
You can find the complete list of winners at http://castatefair.org/california-commercial-extra-virgin-olive-oil/ .
The top extra virgin olive oil competition winners will be acknowledged on Thursday, June 21, on the west steps of the Capitol.
Later that evening, the winning producers will sample their oils at the Best of California Tasting event at Cal Expo, held prior to the California State Fair Gala benefiting The Friends of the State Fair.
The olive oil competition winners will also be presenting during the California State Fair Taste of California Experience classes July 13 to 29. Fair guests can learn how to taste, pair and use the best California olive oils during these classes taught by olive oil experts.