Sep 9 2013

With the City Council and School Board elections five months away in February 2014, the time for candidates to file papers grows nearer.  Two have announced their candidacy for City Council: incumbent City Council member Jeff Wieler and Recreation Commissioner Teddy King.  There are three City Council seats up for election and two Board of Education seats.

The official filing period for City Council and School Board, according to City Clerk John Tulloch, opens Oct. 14, 2013, and ends Nov. 8, 2013.  

For more information from the Patch on King and the election.

For more information from the Patch on Wieler and the election.

City Clerk John Tulloch:
120 Vista Avenue, Piedmont, CA  94611

Phone: 510-420-3040
Email: jtulloch@ci.piedmont.ca.us
Hours: Monday through Friday, 8:30 a.m. – 5:00 p.m.
Closed on Holidays

Editors’ Note:  The Piedmont Civic Association does not support or oppose candidates for public office.  PCA welcomes information on the candidates and their positions. 

Jul 28 2013

Scrutiny of Piedmont finances leads to consideration of bonds to pay off CalPERS “Side Fund” pension obligation. 

After Detroit’s fiscal crisis, Time magazine and the Wall Street Journal mention Oakland, Philadelphia and Chicago as cities facing large fiscal challenges.  The cover of the August 5 issue of Time asks, “Is Your City Next?” The lead article warns:

“Though nearly everyone agrees that Detroit is in particularly bad shape, many of its underlying issues — crushing debt and unfunded and unsustainable retiree benefits — are not unique. And those legacy costs are at the heart of what many experts believe is a coming municipal-finance crisis in the U.S. …Battles are already under way to decide if bankruptcy will let Detroit escape its pension commitments and turn away creditors. Promises, it must be said, will be broken; the questions now are which ones and how badly.”

According to the July 21 Wall Street Journal article, “After Detroit, Who’s Next?“:

“Take Oakland, which is Detroit’s doppelganger on the West Coast. The run-down Bay Area city, which has the highest crime rate in California, recently laid off more than 100 police to fund retirement benefits and pension-obligation bonds. Murders and robberies shot up by nearly 25% last year. To avert steeper cuts, the city borrowed an additional $210 million to finance pensions.”

$8 Million Bond Refinancing of the City’s CalPERS Side Fund *

Early in 2013 it appeared that paying off Piedmont’s CalPERS $8 million Side Fund obligation by refinancing it at a lower interest rate through a bond issuance would offer pension cost savings. The Budget Advisory and Financial Planning Committee investigated refinancing options and heard presentations by two investment banking firms with experience refinancing CalPERS Side Funds.

For pension obligation bonds expected to be issued on June 30, 2014, Piedmont’s Finance Director, Erick Cheung, recommended that the City Council approve agreements with the law firm of Orrick, Herrington & Sutcliffe for ballot language and bond counsel in an amount not to exceed $40,000, and, if required, validation action** not to exceed $10.000.  The investment banking firm Cheung recommended is Brandis Tallman, to be paid  an amount not to exceed $40,000 for a private placement or 1% of the par amount of a public offering of bonds. At its July 1 meeting the City Council approved agreements with Brandis Tallman and Orrick, Herrington & Sutcliffe on these terms.

At the June 17 City Council meeting, Brandis Tallman stated that interest rates had risen and the annual savings for Piedmont would be $82,000 at current rates. Presentations on May 8 by investment bankers Raymond James had estimated an annual savings of $210,000 assuming the 7.50% CalPERS interest cost were replaced with 2.89% interest cost.

*The Side Fund obligation of $8M was created by CalPERS in 2003 when it merged all agencies (including cities) with fewer than 100 employees into pools with shared risk.  Each member of a pool was assigned a share of the unfunded liability in its pool.

** If the refinancing were approved in a Piedmont election by a majority vote falling short of 2/3, a validation action is filed with the State to confirm that the refinancing fits an exception to the State requirement of a 2/3 vote approving multi-year indebtedness. Orrick, Herrington & Sutcliffe suggested the action would add at least 45 days and perhaps six months delay to the refinancing.  Issues related to Piedmont’s City Charter have yet to be resolved.

Piedmont’s City Charter states:

SECTION 4.14 BONDED DEBT LIMIT
The City shall not incur an indebtedness evidenced by obligation bonds which shall in the aggregate exceed the sum of twenty (20) percent of total assessed valuation for purposes of City taxation, of all the real and personal property within the City, exclusive of any indebtedness that has been or may hereafter be incurred for the purposes of acquiring, constructing, extending or maintaining municipal utilities, for which purpose a further indebtedness may be incurred by the issuance of bonds, subject only to the provisions of the State Constitution and of this Charter.

No bonded indebtedness which shall constitute a general obligation of the City may be created unless authorized by the affirmative votes of a majority of the electors voting on such proposition at any election at which the question is submitted to the electors and unless in full compliance with the provisions of the State Constitution, other State laws and this Charter.

Read more: http://www.time.com/time/magazine/article/0,9171,2148171,00.html#ixzz2a6iJ6qB2
Read about Side Fund Refinance
Read City Council July 1, 2013 minutes
May 22 2013

Local Control Funding Formula (LCFF), Governor’s May Budget Revise, and Shaping Our Future are on the agenda.

The Budget Advisory Committee meeting will be held Thursday, May 23,  3:30 – 5:00 p.m. in the Piedmont Unified School District Office Board Room at 760 Magnolia Avenue.   The Budget Advisory Committee is under the direction of the Superintendent.  The members of the Committee have not been announced.  There will be no broadcast of the meeting, but the public may attend and participate in the meeting.

The Measure A School Support Tax Subcommittee members will be selected from the  Budget Advisory Committee members.  According to the tax measure, the Subcommittee is responsible for advising the School Board annually on the need for levying the Measure A parcel tax.

If an additional meeting is deemed necessary, it will be held on June 6 at the same time and location.

“The Program/ Budget Advisory Committee is a standing committee with representatives from all stakeholders in the District. Its purpose is to review the District’s Budget, share the information with constituent groups and generate recommendations for Board consideration in the Budget development process. Members will be asked to serve in rotation for a one to two year cycle. Responsibilities will include attendance at meetings and sharing of information with their representative group and to represent the interests of all programs and services for the District as a whole.

The Budget is fluid and therefore under constant “revision” as revenues and expenditures are clarified. The Program/Budget Advisory Committee is a vehicle to disseminate information to as many parents, students, staff and community members as possible. The Committee is advisory in nature and will not have decision-making responsibilities.”

For further information or comments contact: 

Superintendent Constance Hubbard, chubbard@piedmont.k12.ca.us

Sandy SpikerAdm. Asst. to Supt., sspiker@piedmont.k12.ca.us, 594-2614

 ~~~~~~~~~~

School Board Members:

Richard (Rick) Raushenbush, President, rraushenbush@piedmont.k12.ca.us

Andrea Swenson, Vice President, aswenson@piedmont.k12.ca.us

Sarah Pearson, spearson@piedmont.k12.ca.us

Ray Gadbois, rgadbois@piedmont.k12.ca.us

Roy Tolles (E. Leroy), rtolles@piedmont.k12.ca.us

Apr 24 2013

The Piedmont School Parcel Tax Advisory Committee will hold its final meeting on Friday, April 26, at 4 p.m.  in the Piedmont Unified School District Administration Office, 760 Magnolia Avenue, Piedmont.

 Since the current school parcel taxes Measures B and E are being replaced by the recently approved Measure A (approved by Piedmont voters in March 2013), the Advisory Committee, which was appointed by the School Board in 2009, has completed its charge, and its members will no longer serve.

Aside from the agenda below, no staff reports have been provided, and the meeting will not be videotaped or broadcast on KCOM.  Interested individuals must attend the meeting in person to hear the discussion. 

AGENDA

A. Call to Order Chair Ken Jensen

B. Establish Quorum (at least 4 members) Chair

C. Introduction / Welcome Chair / All

D. Approval of Minutes of Meeting of 12/11/2012 Chair/ All

E. Remarks by the Superintendent Constance Hubbard

F. Final Comments by Members of the CAC Chair/All

a. Chair Ken Jensen

b. Former Chair Jon Elliott

c. Other members of CAC

F. [G.] Discussion of 2013 CAC Report Content Chair / All

G. [H.] Adjournment Chair

• Draft Minutes for meeting of 12/11/2013 (to be handed out at meeting)

 

Mar 8 2013

The Borikas vs Alameda Unified School District (AUSD) case that played a major role in the flat tax design of Piedmont’s recently approved school parcel tax has been concluded in the Court of Appeal.

Upon rehearing, the three-judge First Appellate District court panel ruled that state law didn’t allow AUSD to tax a few commercial property owners 15 cents per square foot up to a $9,500 cap while all residential properties and most commercial properties were taxed $120 per parcel. The court had vacated its December 11, 2012 decision at the school district’s request, after granting a rehearing. The Appellate Court found that state law requires school districts’ special taxes to be applied uniformly and that the only exception the law permits is an exemption for seniors and low-income disabled people.  > Click to read more…

Mar 7 2013

A is for Appreciative – Thank You, Piedmont!

Measure A was approved by 77% of voters in the March 5th Special Election

Dear Piedmont Community,

With the passage of Measure A we would like to extend a heartfelt thank you for once again demonstrating your strong commitment to Keep Our Schools Strong.  You have just ensured 8 years of stable, locally controlled funding for our school district.

Seeing and talking with friends and neighbors on the campaign trail has been tremendously rewarding for everyone involved with the effort, and we feel honored to have received the community’s trust and support. > Click to read more…

Mar 7 2013

Dear Piedmont Community,

Over the last few months, an extraordinary effort has been made to engage our community in a public discourse concerning the funding of a quality education for our district.

Measure A was passed as a result of those conversations. > Click to read more…

Mar 6 2013

Piedmont’s Election Day was quiet at 6 polling sites as most casting a ballot did so by mail –

Children waved “Vote for Measure A” signs at major intersections to encourage Piedmonters to go to the six polling places that were open from 7am to 8pm on Tuesday, March 5.  Less than two hours after the polls closed the Alameda County Registrar of Voters reported the unofficial resulting vote.  The 52.79% of registered Piedmont voters participating cast 3414 “Yes” votes (76.50%) and only 1049 “No” (23.50%) votes.  In addition, there were nine “under votes”—meaning the voter did not precisely follow the directions for indicating their choice. The majority of votes were mailed in prior to Election Day with only 1,233 voting in person. > Click to read more…

Mar 6 2013

Opponents Support Progressive Tax and Senior Exemption to produce the same budget for the schools-

Piedmont’s Measure A election is unique in that both proponents and opponents want the same full funding for our schools. Opponents believe that the most expensive California school tax requires both a progressive structure and compassion for needy seniors. > Click to read more…

Mar 6 2013

Kids play online games designed to teach civics –

In 2009, retired Supreme Court Justice Sandra Day O’Connor founded iCivics to help children become “knowledgeable, engaged 21st century citizens”.  O’Connor was concerned about research showing Americans’ declining civic knowledge and participation. Securing our democracy, she realized, requires teaching the next generation to understand and respect our system of governance. iCivics is committed to passing along our legacy of democracy to the next generation.  Playing the games, children learn about the structure, function, and powers of the legislative branch of government. They will explore the legislative process, as well as the influence of citizens and political parties. > Click to read more…