Category: Watch Your Wallet

Posted onFullerton City Council

Kaboom. One Hundred and Twenty-Seven Million Dollars

by 22 Comments on Kaboom. One Hundred and Twenty-Seven Million Dollars

Fullerton’s public safety pension debt just exploded.  Numbers from a new report just released by CalPERS pin the unfunded pension liability for Fullerton’s police and fire at $126,843,150.

Hey little guy. Cash or credit?

The new figures represent a first look at Fullerton’s pension crisis after the market crash of 2007 (yes, CalPERS is that slow.)

Of course these dismal digits are probably optimistic, given that CalPERS is still using the ridiculous rate of return that the unions used to cook up these obscene benefits in the first place. We did, however, take the liberty of removing the absurd “smoothing” calculation that adds a magical $73,000,000 to the fund, even though that money does not exist anywhere.

Warning: 76 pages of boring

$126,843,150.00. Let’s put that number in perspective: it’s enough to fund the entire Parks and Rec department for the next 27 years, re-pave six million square/ft of deteriorating roadway or completely staff Fullerton’s libraries until the year 2058.

Paying that debt (assuming it doesn’t get worse) will require an additional $3,000 from each Fullerton household, above and beyond our current taxes. That’s just for unfunded public safety retirement debt, which allows these public employees to receive 90% of their highest pay at age 50 for the rest of their lives.

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Posted onDead heads

How Low Can You Go?

by 4 Comments on How Low Can You Go?
A is for Honest.

If you’re Anaheim’s outgoing Mayor-for-Hire, Curt Pringle, the answer is: very. We got hold of this flier that advertises a big tribute to Pringle that will undoubtedly tout his Integrity, Leadership, and Vision.

Wow, a Tribute

We already know more than we need to about those alleged Pringle attributes as we have vividly and abundantly documented in our pages how Der Pringle has managed to insert his grubby little fingers into just about every pie in OC, most prominently the Platinum Triangle Tragedy, The Great ARTIC Ripoff, the HSR Boondoggle, and even how he’s swung peculiar gigs shilling for Rob Reiner’s Children and Families Commission and even the OC Cemetery District.

———- Forwarded message ———-
From: Bryan Lang <Bryan@curtpringle.com>
Date: Mon, Nov 8, 2010 at 4:24 PM
Subject: Anaheim Mayor Curt Pringle Tribute Event
To:****@*****.***

What’s really funny about the upcoming tribute to Pringle is that it is being organized by…Pringle himself! And if you respond to one of Pringle’s flunkies you can join in the party celebrating the Integrity, Leadership, and Vision that Pringle has embodied in his eight year Reign of Profit.

Most of us would feel a little bit awkward celebrating our own Leadership, Integrity, and Vision; apparently the flier left off Pringle’s Humility. Well, we’ll take care of that. And the experience will be humbling.

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Posted onOC Register

Fullerton Employee Arrested for Embezzling $35,000

by 44 Comments on Fullerton Employee Arrested for Embezzling $35,000

The OC Register is reporting that the former risk manager for the city of Fullerton was arrested today and charged with running an embezzlement scheme and stealing over $35,00 of public funds.

Darryl Phillips, former Fullerton employee

According to the story, Phillips is accused of processing false injury claims filed against city workers on behalf of his friends. Phillips apparently had the authority to approve the claims and authorize payment himself. He has been charged with 10 felonies and is out on $50,000 bail.

Of course this type of thing won’t sit well with the local critics, especially in the awakened age of Bell. Questions abound. For instance, who hired this guy? What else did he steal? Who else is stealing? Why did he have the sole authority to pay fraudulent claims? And finally, was the arrest intentionally delayed until two days after the election, in order to protect the public image of former public employees, two of whom were running for office?

We’ll probably never know the answers to all of these burning questions, but that won’t stop us from asking.

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Posted onAbout Us

Amazing Grace And the Amazing Sinking Chi.

by 19 Comments on Amazing Grace And the Amazing Sinking Chi.

As I was motoring down Highland Avenue the other day, I spied this sight in the 200 N. block.

Uh, oh! A church proudly displaying a Roland Chi sign. Somebody needs to inform this operation that the IRS doesn’t allow non-profits to promote political candidates, and not only that, but it really looks bad when churches do it.

Of course the idea of using a non-profit to promote his political ambition is nothing new for Roland Chi, it’s pretty risky for a church to jeopardize its standing with the IRS. What’s next for “Amazing Grace Methodist Church?” Can anybody say “property taxes?”

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Posted onAbout Us

Fullerton Fire Hero Goes Viral

by 316 Comments on Fullerton Fire Hero Goes Viral

Our famous firefighter video has become some sort of Internet sensation, bringing in tens of thousands of viewers and building some serious buzz. Oddly enough, the clip seems to be extra popular on computers within the halls of public agencies throughout the nation.

But just in case you missed it, here it is again:

And a special thank you to our anonymous friend, Mr. Oliver Stone. The popularity of this clip has inspired other cinematic greats such as “Cop Gets Schooled” and “Fire Chief Watches House Burn.” Keep ’em coming, Mr. Stone.

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Posted onBehind Closed Doors

CalPERS Delays Scary Pension Reports Until After the Election

by 15 Comments on CalPERS Delays Scary Pension Reports Until After the Election

A senior CalPERS attorney just told me that the annual pension liability reports for local agencies, which are normally distributed every October, have now been delayed until after the November elections. The delays are allegedly due to furloughs, but conveniently prevent local pension watchdogs from using the data to promote fiscally conservative candidates and pension reform leading up to the November 2nd.

I bury'd it.

This year’s reports would be the first to calculate pension liabilities after the disastrous market crash of 2008/2009 which caused CalPERS to loose a large portion of its holdings, which in turn has caused cities’ unfunded liability and annual contributions to skyrocket. But the damage to each city is unknown until the individual reports are released.

How bad will it be? Here’s one example: rough calculations show Fullerton’s “non-smoothed” unfunded liability for itspublic safety plan will soar past $100,000,000 this year, nearly three times the amount presented last year. Throughout the state, the debts shown in these report are likely to be shocking compared to previous filings.

The data would have undoubtedly been used to draw more attention to the dire pension situation in cities throughout California. The reports would have come just in time for local elections, which makes CalPERS’ stated cause for the delay extremely suspect.

Ouch

The annual “Actuarial Valuation” reports are prepared by CalPERS actuaries for each participating agency to justify annual increases in required contributions. Here is a example of Fullerton’s public safety report for 2008, which is the most recent year available.

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Posted onFullerton 2010

Barry Speaks: Redevelopment Loans and the Lack of Public Input

by 13 Comments on Barry Speaks: Redevelopment Loans and the Lack of Public Input

This just came in from council candidate Barry Levinson:

Barry Levinson

Last Tuesday night was the vote on the issuance of housing bonds by the RDA in the amount not to exceed $29 million. The Mayor spoke and indicated that there will be no public comments on this issue.

The city attorney right before the vote was to begin, rightly reminded Mayor Bankhead that since the people cannot vote on whether or not to approve the bond issue, we should at least be allowed to voice our non-binding opinions.

Here are some of my comments I presented to the council:

Mayor and council shame on all of you for almost forfeiting our right as Fullertonians to speak out on this housing bond issuance.

We need better oversight over the RDA projects.  The city council and the rest of the RDA should not be the ones policing themselves.

The RDA is the only taxing authority that requires no voter approval. We as taxpayers, S/B given more information and more time to review these bond measures before it comes to a vote by council.

Since there will be 2 possibly 3 new council members as of November 2,  I suggested that this item be postponed to after the next election.

The council’s answers largely were defensive.  No one touched on the third rail issue of no voter participation!  Mayor Bankhead remained conspicuously quiet throughout the council’s responses to our objections.

And there you go; another council meeting where our rights as citizens were eroded and $29 million was obligated by the city council without a single vote cast by the people!

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Posted onDon Bankhead

Fullerton Unions Pick a Pack of Shameful RINOs

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Today the first public employee union campaign signs went up across Fullerton. Predictably, the union is backing all three worthless RINOs: Don Bankhead, Pat McKinley and Roland Chi.

The public safety unions’ motives have always been clear to the observant. They will support the candidates who offer them the biggest return. What do the unions expect? More generous pay raises. More obscene benefits. More unsustainable pensions.  Multi-million dollar retirement packages. And more debt and taxes to pay for it.

Rookie draft complete. Now presenting the 2010 Union Dream Team

The unions have proven that they hold little regard for Fullerton taxpayers, as evidenced by their pension-driven destruction of Fullerton’s financial future for the benefit of a few public servants. They lobby for raises, pray on the emotions of the weak, and lie about future benefit costs all while complaining about their cushy jobs. When it’s time to negotiate with our empty-headed council, all of the union deceit comes together like a finely tuned machine. It’s sole purpose? To line their own pockets in exchange for the least amount of effort and accountability as possible.

What’s at stake? Bloated union paychecks.

How could the unions take so much from Fullerton’s conservative voter base? That’s easy.  For decades, Republican voters have been fooled in to electing spineless cowards who are afraid to stand up for taxpayers at their end of the bargaining table. They shrivel up in fear at the thought of going against the unions and offer nothing but endless excuses when their negligence is exposed.

It’s frightening, but it’s true. The unions are in it for themselves, taxpayers be damned. They won’t quit until we’ve been sucked dry, and they’ve found just the right candidates to do it. In 2010, it really is “us vs. them.”  Let’s bring some sanity back to this city.

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Posted onFullerton 2010

Will Redevelopment Borrow Another $29,000,000 Tonight?

by 17 Comments on Will Redevelopment Borrow Another $29,000,000 Tonight?

Acting as the Redevelopment Agency, the City Council will be voting on a $29,000,000 bond tonight. City staff estimate the total cost to taxpayers for the bond at about $45,500,000 over the next 16 years. $45.5-million! The RDA is the only agency that can issue bonds without voter approval. It is completely unethical for our elected council members to break out the taxpayers’ credit card while our library’s hours are reduced, workers are furloughed, and employees salaries are cut. Shame on the Redevelopment Agency staff and shame on any council member who votes for this bond!

Why should we be upset about the RDA spending $29,000,000? Because, as the OC Register reported in July, the Fullerton Redevelopment Agency spent $22,700,000 to evict 600 low-income residents, bulldoze their homes to make room for a few low-income condos. This is on top of another half-baked idea to move a McDonald’s 150 feet at a cost of $6,000,000 to taxpayers. $6-million to move a burger stand 150 feet! Fortunately, the RDA gave into public pressure and the project was shot down.

Some council candidates like to point at Downtown Fullerton as a shining example of the great work Redevelopment does. Indeed it is. Had we not “revitalized” our downtown, we would have fewer calls for police and fire to respond to drunk and disorderly conduct.

Please take a minute to think about the untold damage done by our own City Hall under the direction of our City Council, often acting as the Redevelopment Agency.

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