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Download PDF
August 2019
Dear friends,
Climate change threatens our quality of life, our economy, and poses material risk to our communities. Massive hurricanes, raging wildfires, bomb cyclones, and other weather catastrophes that were previously considered once-in-a-lifetime events are now occurring
at an alarming rate.
The devastating effects of climate change on our communities are dramatic. Here in California, we have witnessed the historic devastation and loss of life in the Paradise fire—the intensity of which was enhanced by climate change—less than one year ago.
Apart from slowing or reversing the warming of the planet, communities around the world must upgrade their fixed assets to make them more adaptable to these types of environmental shocks.
A recent article by the Federal Reserve Bank of San Francisco states that climate change poses a real threat to our economy. In a more foreboding vein, another recent report by the Urban Land Institute claims that using insurance as a mitigation strategy against loss of value is simply not sustainable in the long term.
Click to Read the Full Letter
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CPCFA & CAEATFA
Looking to upgrade and achieve greater energy efficiency for a home or a business? Eager to join in global environmental efforts to reduce greenhouse gas emissions and curb carbon pollution? Well, why not do both?
Here’s how you can become part of the effort to help California achieve its goal of drawing 60 percent of its energy from renewable sources by 2030 and 100 percent from zero-emission electric power sources by 2045.
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Congratulations Sandra Kent, our July employee of the month!
Sandra is an analyst with the California Debt and Investment Advisory Committee’s (CDIAC) Education and Outreach Unit. In addition to acting as a clearinghouse for information, CDIAC provides education and technical assistance on debt issuance and public fund investment to local public agencies and other public finance professionals.
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Dear Fiona,
I recently attended one of your small business seminars and heard a presentation about the CalSavers retirement savings program. I operate a nonprofit organization. Are nonprofits required to register for the program?
– Scarlett
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A monthly update on key legislation for Treasurer Ma
California Recycling Market Development Act
Assembly Bill 1583, Susan Talamantes Eggman (D-Stockton) https://a13.asmdc.org/
Eliminates the sunset date for reauthorization to certificate and bifurcate state Low-Income Housing Tax Credits, and would require the allocation of credits among partners in accordance with the partnership agreement and authorizing the sale of a credit, as described by the bill indefinitely. (Included in Governor’s budget.)
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As adults live longer and more productive lives – and more want to stay in their homes and communities as they age – Treasurer Fiona Ma feels strongly that we must ensure the state is able to meet the demand. To do that, we need a California Master Plan for Aging.
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Calendar of recent and upcoming public finance activities and bond sales
Week of July 11
Trustees of the California State University ($646 million)
The sale included $421.067 million of bonds to fund various new projects for the CSU system, $107.233 million of bonds to redeem existing commercial paper notes, $67.7 million to forward refund outstanding bonds, and $50 million to remarket outstanding mandatory tender bonds.
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Calendar of Upcoming BCA Events
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Boards, Commissions and Authorities (BCAs) within the State Treasurer’s Office
August 9 – City of Chino Hills Small Business Workshop
9:00 AM (check in) – 12:30 PM
Chino Hills Community Center- Great Oak Hall Room A and B | 14250 Peyton Drive, Chino Hills, CA 91709
Limited Space! Register online at: http://bit.ly/ChinoHillsSBW2019
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The Ma Squad
Photos of Treasurer Fiona Ma on the Road
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Treasurer Ma, Deputy Treasurer Jovan Agee, CTCAC Deputy Executive Director Anthony Zeto, and CDLAC Senior Program Manager Evan Kass in San Jose for the final stop on a 10-city tour featuring public meetings on regulations that govern the Treasurer’s housing tax credit programs. The tax credits spur construction of affordable housing.
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California Pollution Control Financing Authority Executive Director Renee Webster Hawkins (second from left) visits Tijuana to collaborate with local leaders on investing in recycling and re-use programs that create jobs, improve quality of life and reduce pollution on both sides of the U.S.-Mexico border.
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At UCLA Mattel Children’s Hospital to present a resolution of appreciation to Johnese Spisso, President of UCLA Health and CEO of UCLA Hospital System. Also pictured are UCLA Health Chief Operating Officer Richard Azar (far left), and (to the right of Treasurer Ma) UCLA Health Chief Strategy Officer Santiago Munoz, California Health Facilities Financing Authority Executive Director Frank Moore, and Deputy Treasurer Audrey Noda.
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Touring Sonoco Products Company Waste Paper and Paper Mill in the City of Industry.
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At the July 1 news conference and launch of CalSavers, the state’s new retirement savings program for private-sector workers. With Treasurer Ma are former Senate pro Tempore Kevin de Leon, CalSavers Executive Director Katie Selenski, Communications Director Mark DeSio (right) and Communications Analyst Akilah Jones (left).
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Public tours of your state Capitol are conducted each week,
every hour during business hours.
Just show up at Room B-27! For more details, call (916) 324-0333.
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