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Orange County Finances

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CALIFORNIA | LOCAL
January 31, 1990 | GEORGE FRANK
A new welfare office to serve poor and elderly residents in South County will open April 1 near La Paz Road and McIntyre Street. Financing the office became a priority in September after an attempt by county officials to close down the small welfare office in San Juan Capistrano caused a public outcry. Those opposing the closure said it would force the poor to make the long trip to the county welfare office in Costa Mesa. The San Juan Capistrano office was closed for less than a week.
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CALIFORNIA | LOCAL
January 30, 2003 | Seema Mehta, Times Staff Writer
Orange County's top financial officer on Wednesday presented a grim array of budget cuts he said may be necessary in the coming months. The effects could include delayed investigations of child-abuse reports and less monitoring of sea pollution. Chief Financial Officer Gary Burton unveiled the list of potential cutbacks in the midst of a state budget crisis that officials said could result in tens of millions of dollars less in funding to Orange County.
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NEWS
January 7, 1988
Are you going through good times financially?Yes 67.0% No 24.7% Don't know 8.3% Source: 1987 Orange County Survey
CALIFORNIA | LOCAL
September 11, 2001 | SEEMA MEHTA and EVAN HALPER, TIMES STAFF WRITERS
After years of importing trash to help pay its bankruptcy debt, Orange County must expand the size and life span of two county-run landfills near Brea and Irvine to meet future local needs, officials said Monday. The proposal was immediately greeted with skepticism by those cities' officials, who hold veto power over any expansion plans. "I'm not going to sit still for any expansion . . .
NEWS
December 28, 1995 | MATT LAIT, This article was reported by Times staff writers Matt Lait, Dexter Filkins, Tracy Weber and Michael G. Wagner and was written by Lait
In the frantic days just before Orange County declared bankruptcy because of its disastrous investment practices, top officials were told that then-Treasurer-Tax Collector Robert L. Citron relied upon a mail-order astrologer and a psychic for interest rate predictions, according to testimony before the county grand jury.
NEWS
December 13, 1994 | MARK PLATTE and MATT LAIT and LEE ROMNEY, TIMES STAFF WRITERS
Orange County curtailed all but emergency spending Monday as its investors grappled with an expanding financial crisis that forced postponement of a major freeway widening, a near-shutdown of the county's largest water district and a halt to property tax refunds.
NEWS
December 6, 1994 | MARK PLATTE and MATT LAIT and SCOT J. PALTROW, TIMES STAFF WRITERS
As federal regulators pored over records of Orange County's beleaguered $18.5-billion investment fund, county officials Monday announced the resignation of Treasurer-Tax Collector Robert L. Citron after 24 years in office. Less than six months after celebrating his reelection, Citron quit amid the ongoing fallout from his disclosure last week that the investment pool he managed for the county and 180 other public agencies across the state had lost $1.5 billion in value this year.
NEWS
June 19, 1997 | MICHAEL G. WAGNER, TIMES STAFF WRITER
The Orange County district attorney has agreed to drop his 2 1/2-year criminal investigation of Merrill Lynch & Co.'s role in the county's historic bankruptcy in return for what amounts to a fine exceeding $20 million. The Wall Street giant will admit no wrongdoing in agreeing to the settlement, which could be announced as early as 11 a.m. today, according to sources who spoke on condition they not be identified.
BUSINESS
January 14, 1995 | KATHY M. KRISTOF
Little-understood risks about deferred-compensation plans are being uncovered in the Orange County financial debacle. County employees were told last week that they will lose 10% of the $85 million they collectively had saved for retirement in the county-sponsored plan. Instead of paying promised benefits, the county will use a portion of the workers' savings to pay other creditors--essentially confiscating money that public employees had earned and saved. Is that legal?
CALIFORNIA | LOCAL
July 31, 1995 | JODI WILGOREN, TIMES STAFF WRITER
In high school, Chris Varelas had a part-time job hawking peanuts at Anaheim Stadium. During college, he spent summers greeting guests at Cafe Orleans on Disneyland's Main Street. A decade later, at 32, the Wall Street investment banker has returned to his childhood home to don a new apron, this time leading a desperate treasure hunt to help rescue bankrupt Orange County from its nightmare. When Varelas flew west Dec. 9 with a team of analysts from Salomon Bros.
CALIFORNIA | LOCAL
September 10, 2001 | H.G. REZA, TIMES STAFF WRITER
An effort to stop out-of-county trash from being trucked into Orange County could shake up Southern California's network of landfills and waste haulers, bringing increased business to private landfill owners while leaving refuse collectors scrambling to find a place to dump their garbage.
CALIFORNIA | LOCAL
June 11, 2001 | JENNIFER MENA, TIMES STAFF WRITER
With California's coffers strained by $6 billion in electricity purchases, the governor has eliminated funding for programs considered to be the pillars of welfare reform, experts say. Most welfare directors across the Southland will likely abandon programs that took months, if not years, to develop. The programs, including child care, transportation and job skills, are considered innovative because they attack some core causes of poverty.
CALIFORNIA | LOCAL
June 6, 2001 | DAVID REYES, TIMES STAFF WRITER
For months, Board of Supervisors Chairwoman Cynthia P. Coad has threatened to vote against new funding for recreational programs--such as RV parking, horse stables and golf--at the closed El Toro Marine base because she believed people using the programs were only from South County. A new county map, created at Coad's request, proves she's right.
CALIFORNIA | LOCAL
May 24, 2001 | DAVID REYES, TIMES STAFF WRITER
California's power woes will force Orange County to spend at least $7.7 million more in the next fiscal year on energy-related bills, including higher electricity costs, according to the county's proposed $4.6-billion budget, unveiled Wednesday. Energy costs are projected to rise 43% to about $19.5 million from $13.6 million for the current year, which ends June 30. That is enough of an increase to represent a "big hit" to the budget, said Gary Burton, the county's chief financial officer.
CALIFORNIA | LOCAL
May 24, 2001 | DAVID REYES, TIMES STAFF WRITER
California's power woes will force Orange County to spend at least $7.7 million more in the next fiscal year on energy-related bills, including higher electricity costs, according to the county's proposed $4.6-billion budget unveiled Wednesday. Energy costs are projected to rise 40% to an estimated $19.5 million from $13.6 million for the current year, which ends June 30. That is enough to represent a "big hit" to the budget, said Gary Burton, the county's chief financial officer.
NEWS
May 14, 2001 | JEAN O. PASCO, TIMES STAFF WRITER
The fight over whether a new Orange County airport will be built at the closed El Toro Marine base has consumed $80 million in public funds since 1994, with more to come as the county prepares for a fourth vote on the issue in March. Each side has spent roughly the same amount--$40 million. For airport foes, all of the money has come from property and sales taxes paid by residents in nine south Orange County cities.
BUSINESS
March 12, 1997 | JAMES S. GRANELLI, TIMES STAFF WRITER
A Securities and Exchange Commission inquiry into Orange County's investments in 1994 is coming back to haunt the agency as it tries to hold Wall Street firms accountable for the county's $1.64-billion investment debacle. The agency is resisting attempts by the investment banker CS First Boston to release information on the SEC's own review of the county's portfolio--a review that showed no wrongdoing by the county.
CALIFORNIA | LOCAL
February 13, 1995
Orange County bondholders understandably are nervous about their continued exposure in the bankruptcy crisis. At a meeting in Anaheim last week, on the day a settlement plan for agencies participating in the county's investment pool was being unveiled, investors demanded a stronger say in the bankruptcy proceedings. The problems of the bond owners need to be taken seriously.
CALIFORNIA | LOCAL
May 14, 2001 | JEAN O. PASCO, TIMES STAFF WRITER
The fight over whether a new Orange County airport will be built at the closed El Toro Marine base has consumed $80 million in public funds since 1994, with more to go as the county prepares for a fourth vote on the issue next March. Each side has spent roughly the same amount--$40 million. For airport foes, all of the money has come from property taxes and sales taxes paid by residents in nine south Orange County cities.
CALIFORNIA | LOCAL
April 28, 2001 | DAVID REYES, TIMES STAFF WRITER
A $2.9-million, no-bid contract proposal to help provide information and shape public opinion for a commercial airport at El Toro has bewildered county observers and angered two anti-airport supervisors, who challenged the expenditure. The "sole-source" contract is expected to be offered to Amies Communication, an Irvine public relations firm run by John G. Amies, a former brother-in-law of pro-airport lobbyist Bruce Nestande.
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