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October 2020

Dear Friends,

The coronavirus pandemic is raising awareness of just how much more needs to
be done to protect our most vulnerable citizens. You’ll learn how my office is
responding by helping to improve conditions within skilled nursing facilities on
page 3.

Supporting better designs, while at the same time improving the protective use
and function of interior and exterior spaces, can spare loved ones from the spread
of disease and make these facilities more resilient against pandemics.

The California Health Facilities Financing Authority (CHFFA), whose board I chair, is
now financing such updates and renovations.

In other news, on October 1 we delivered the statutorily required annual Debt
Affordability Report to the California Legislature. As I wrote in my cover letter
addressed to lawmakers, while it is true that governmental revenues naturally fall
faster than expenditures, the economic stress generated by COVID-19 was
significantly less threatening because of the existence and size of the state’s
rainy day funds. Read the full report here.

In Peace & Friendship,

California State Treasurer Fiona Ma, CPA

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California State Treasurer Fiona Ma, 915 Capitol Mall, Sacramento, CA 95814, United States
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