Orange County’s financial crisis that became visible last month when the State of California sued the county for using $73.5 million of education money to balance its budget continues to swirl. Shortly thereafter, it was reported (here) the Auditor-Controller resigned in December after disclosing a $30,146,000 shortfall in “Reserves for Contingencies”, his Assistant turned down the [...]
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The liquidity of the Orange County Treasurer’s Investment Pool was hammered last week when the City of Tustin withdrew $40 million and the State of California announced its intentions to soon pull out another $90 million. It was also reported that no other member of the Auditor-Controller bureaucracy is willing to accept the head job, [...]
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