California League of Bond Oversight Committees

3rd Annual Statewide CaLBOC Conference
"Citizen’s Oversight: Protecting Integrity and Value"

Tuesday, May 9, 2014
9:30 AM to 3:00 PM
$50 per person included lunch & refreshments


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CaLBOC Presenter Bios


CaLBOC May 9, 2014 Statewide Conference Presentation:
Pay to Play in School Bond Measures What it is and Why it is Wrong
Presented by Lori Raineri of Governmental Financial Strategies

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Third Annual STatewide Calboc Conference • 2014

A G E N D A  (continued)

1:00-1:15 pm -  Break

1:15-2:00 pm 

Development and  Use of a School Debt Toolbox for COEs
Mary Barlow
, Assistant Superintendent, Kern County Office of Education 
The Kern County Superintendent of Schools is a leader in school business, and the only education agency to support legislative attempts to thwart “pay to play” in school bonds.  Dr. Barlow will address the role of a County Superintendent of Schools office and the exemplary effort made by the Kern County Superintendent of Schools to provide training and support of school districts to have responsible school bond programs, providing training and support to school districts in the areas of construction management, procurement, budgeting, legal, and most recently, creating a “Debt Management Toolkit” and providing direct advice and training to school districts on debt management best practices.  Dr. Barlow will also discuss her personal experiences as a school district superintendent, Deputy Administrative Office of the Fiscal Crisis Management Assistance Team (FCMAT), and currently as Associate Superintendent of the Kern County Superintendent of Schools’ office.

2:00-2:45 pm

Pay-to-Play: What it is, and Why it is Wrong
Lori Raineri, Principal, Government Financial Strategies Inc.
Dan Mierzwa, Treasurer, Yuba County
“Pay to play” is a long standing practice of public finance professionals financing or providing local campaigns in favor of bonds in exchange for lucrative work on the sale of those bonds when approved by the electorate.  Ms. Raineri will present what “pay to play” is, current legal opinions describing what is illegal about it, her arguments (also presented multiple times to the Legislature) about why it is wrong, and finally, the academic research about what it really costs.
     The California Association of County Treasurers and Tax Collectors has been leading the fight against questionable school district bond practices and has made several attempts to get clear legislation illuminating in simple terms that “pay to play” is illegal.  The Honorable Dan Mierzwa will share CACTTC’s experiences in trying to forward this legislation.

2:45-3:00 pm
Michael Day, CaLBOC President& Co-Founder

$50 per person, includes lunch & refreshments

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CaLBOC Would Like To Thank Our
Generous Conference Sponsors:
Kern County Taxpayers Association

University of California Sacramento Center
Linda Ruiz-Lozito •

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9:30-10:00 am: Registration
. Refreshments available

10:00-10:15 am
Welcome & Introductions
: Michael Day, CaLBOC President

10:15-11:00 am

Increasing Use of Long Term Debt to Pay for Short Term Costs

Jon Coupal, President, Howard Jarvis Taxpayers Association Proposition 13 limits general property taxes to 1% of assessed value.  Local agencies may not increase ad valorem taxes except for general obligation bonds which are to be used for capital items, such as school buildings and jails - assets with long term value.  Currently, there are efforts to circumvent Proposition 13’s limitation on local government taxing and spending for regular operations by utilizing 55% voter approval school bonds to pay for annual technology budgets.  Mr. Coupal will address how this financial shenanigan is nothing more than a legal strategy to circumvent Proposition 13 and additionally, is a costly waste of taxpayer funds, and what concerned citizens can do about it.

11:00-11:45 am
CaLBOC Anton Jungherr Award for Service to Citizen Oversight
 •  Senator Mark Wyland,
Vice Chair, Senate Education Committee
 •  Assembly Member Joan Buchanan,
Chair, Assembly Education Committee

11:45-12:15 pm  -  LUNCH: Catered by Plates Catering,
an outreach effort of the St. John’s Shelter for Homeless Women and Children

12:15-1:00 pm

Keynote Address:
John Chang, California Controller