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	<title>financial pressure Archives - The Hemet &amp; San Jacinto Chronicle</title>
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		<title>&#8216;Financial Pressure&#8217; Builds As RivCo Supes Seek To Pad County Coffers</title>
		<link>https://hsjchronicle.com/financial-pressure/</link>
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		<dc:creator><![CDATA[City News Service]]></dc:creator>
		<pubDate>Sat, 25 May 2024 02:00:00 +0000</pubDate>
				<category><![CDATA[Local News]]></category>
		<category><![CDATA[aggregate reserves]]></category>
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		<category><![CDATA[Executive Office]]></category>
		<category><![CDATA[financial outlook]]></category>
		<category><![CDATA[financial pressure]]></category>
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		<guid isPermaLink="false">https://hsjchronicle.com/?p=62663</guid>

					<description><![CDATA[<p>Riverside County government's income will be higher than originally expected -- by almost $100 million -- as the current fiscal year draws to a close, but "financial pressure" continues to build as priorities demand more outlays, according to a report that the Board of Supervisors will review Tuesday.</p>
<p>The post <a href="https://hsjchronicle.com/financial-pressure/">&#8216;Financial Pressure&#8217; Builds As RivCo Supes Seek To Pad County Coffers</a> appeared first on <a href="https://hsjchronicle.com">The Hemet &amp; San Jacinto Chronicle</a>.</p>
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										<content:encoded><![CDATA[
<p class="wp-block-paragraph"><strong><em>The Executive Office&#8217;s 2023-24 third-quarter budget report is among the top items on the board&#8217;s agenda with discretionary revenue at $1.2 B.</em></strong></p>



<p class="wp-block-paragraph">Riverside County government&#8217;s income will be higher than originally expected &#8212; by almost $100 million &#8212; as the current fiscal year draws to a close, but &#8220;financial pressure&#8221; continues to build as priorities demand more outlays, according to a report that the Board of Supervisors will review Tuesday.</p>



<p class="wp-block-paragraph">The Executive Office&#8217;s 2023-24 third-quarter budget report will be among the top items on the board&#8217;s agenda. It will be the final analysis of existing finances prior to the start of 2024-25 budget hearings next month.</p>



<p class="wp-block-paragraph">&#8220;While the near-term financial outlook appears stable, challenges are looming in the years to come,&#8221; the EO stated in the 50-page report. &#8220;While we are projecting increases this fiscal year and next, it should be noted that the pace of growth is slowing, while costs continue to rise to maintain the status quo, let alone increase service levels. Additionally, the need to maintain or replace our aging facilities adds financial pressure.&#8221;</p>



<p class="wp-block-paragraph">Aggregate discretionary revenue is projected to reach $1.224 billion, just over $80 million more than first estimated at the beginning of the current fiscal year, when officials expected inflows by June to total $1.14 billion.</p>



<p class="wp-block-paragraph">According to the report, property tax revenue, motor vehicle in lieu of property taxes and interest earnings on county treasury pool investments are all coming in at higher levels, driven in part by inflation.</p>



<p class="wp-block-paragraph">There was no reference in the third-quarter update to the state&#8217;s sizable budget deficit, which the California Legislative Analyst&#8217;s Office estimated to be $68 billion, and how that may impact funding levels for a number of state-supported programs countywide going into 2024-25.</p>



<p class="wp-block-paragraph">The board generally has a free hand in allocating discretionary funds, as opposed to programmed, or non-discretionary, appropriations, which are earmarked for a range of social, health and other budget mechanisms.</p>



<p class="wp-block-paragraph">The 2023-24 budget is roughly 15% larger than 2022-23&#8217;s, which was about $7.45 billion.</p>



<p class="wp-block-paragraph">A bright line in the midyear budget report issued in February was that aggregate reserves would likely reach $677 million, as opposed to the initial prediction of $555 million, by June.</p>



<p class="wp-block-paragraph">The county received almost $500 million in 2020 Coronavirus Aid, Relief &amp; Economic Security Act allocations and another $480 million in 2021 American Rescue Plan Act money. Just under 10% of the federal infusions have been applied to &#8220;budget stabilization.&#8221; Some of the revenue remains available and is being allocated to community development and related programs.</p>



<p class="wp-block-paragraph">The funds were previously used for homeless and rental assistance programs, along with other social welfare efforts, but they&#8217;ve also been appropriated for capital improvement projects.</p>



<p class="wp-block-paragraph">Hearings on the proposed 2024-25 fiscal year budget are slated for June 10-11.</p>
<p>The post <a href="https://hsjchronicle.com/financial-pressure/">&#8216;Financial Pressure&#8217; Builds As RivCo Supes Seek To Pad County Coffers</a> appeared first on <a href="https://hsjchronicle.com">The Hemet &amp; San Jacinto Chronicle</a>.</p>
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		<post-id xmlns="com-wordpress:feed-additions:1">62663</post-id>	</item>
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		<title>US states adding to financial pressure on Russia over war￼</title>
		<link>https://hsjchronicle.com/us-states-adding-to-financial-pressure-on-russia-over-war%ef%bf%bc/</link>
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		<dc:creator><![CDATA[Contributed]]></dc:creator>
		<pubDate>Sat, 05 Mar 2022 23:00:00 +0000</pubDate>
				<category><![CDATA[Politics]]></category>
		<category><![CDATA[Democrats]]></category>
		<category><![CDATA[financial pressure]]></category>
		<category><![CDATA[Russia]]></category>
		<category><![CDATA[US states]]></category>
		<guid isPermaLink="false">https://hsjchronicle.com/?p=44582</guid>

					<description><![CDATA[<p>Seeking to tighten the financial squeeze on Russia over its war against Ukraine, governors and lawmakers in numerous U.S. states were taking actions Monday to pull state investments from Russian companies while encouraging private entities to do the same.</p>
<p>The post <a href="https://hsjchronicle.com/us-states-adding-to-financial-pressure-on-russia-over-war%ef%bf%bc/">US states adding to financial pressure on Russia over war￼</a> appeared first on <a href="https://hsjchronicle.com">The Hemet &amp; San Jacinto Chronicle</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p class="wp-block-paragraph">Seeking to tighten the financial squeeze on Russia over its war against Ukraine, governors and lawmakers in numerous U.S. states were taking actions Monday to pull state investments from Russian companies while encouraging private entities to do the same.</p>



<p class="wp-block-paragraph">The effect of sanctions by U.S. states often pales in comparison to national ones, but state officials said they wanted to show solidarity with Ukraine and do what they could to build upon the penalties imposed on Russia by the U.S. government and other Western nations. </p>



<p class="wp-block-paragraph">Georgia House Speaker David Ralston, a Republican, got a bipartisan standing ovation Monday when he told representatives he would seek to have the state’s retirement funds quickly divested from any Russian assets. </p>



<p class="wp-block-paragraph">“I don’t know about y’all, but I don’t want one penny of Georgians’ money going to subsidize Vladimir Putin,” Ralston said. “While our role in international affairs is limited, we make clear we stand with those who want to live in peace.” </p>



<p class="wp-block-paragraph">Some actions have been largely symbolic. The capitols in Arizona, Pennsylvania and Tennessee and the governor’s mansion in South Carolina were lit with the blue and yellow colors of Ukraine’s flag. Minnesota Gov. Tim Walz, a Democrat, and Ohio Gov. Mike DeWine, a Republican, issued a joint statement condemning Russia’s invasion of Ukraine as co-chairs of the presidentially appointed Council of Governors. Oklahoma’s Republican-controlled Senate passed a resolution affirming the historical ties between the state and the people of Ukraine and supporting their fight against what it described as “an illegal and violent” Russian invasion. </p>



<p class="wp-block-paragraph">Other state actions have potential teeth. </p>



<p class="wp-block-paragraph">On Monday, the Indiana House passed legislation that would block Russian-controlled businesses and nonprofits from acquiring property in Indiana for one year. It now goes to the Senate. </p>



<p class="wp-block-paragraph">“Indiana will not be a safe haven for ill-gotten Russian funds, nor for its oligarchs trying to find financial shelter in the wake of Putin’s unconscionable invasion of Ukraine,” Democratic state Rep. Ryan Dvorak said while proposing the amendment last week. </p>



<p class="wp-block-paragraph">Pennsylvania lawmakers said Monday they will file legislation requiring state pension funds to pull investments connected to the Russian government and its critical supporters. The state Treasury Department also has begun divesting its minimal holdings in Russian-based companies. </p>



<p class="wp-block-paragraph">In a memo to fellow senators, Democratic state Sen. Sharif Street said Pennsylvania “must wield our economic power to ensure that Russia faces grave consequences for their flagrant violations of international law and human cooperation.” Pennsylvania House Majority Leader Kerry Benninghoff, a Republican seeking co-sponsors for the legislation, said state lawmakers “have a moral obligation to ensure that our public fund investments are not inadvertently supporting those who are engaging in an unprovoked invasion of their democratically elected neighbors.” </p>



<p class="wp-block-paragraph">Arkansas lawmakers have filed proposals authorizing banks in the state to freeze the assets of Russian oligarchs and to require a boycott of Russian-made goods. Republican Gov. Asa Hutchinson declared Tuesday through Thursday “special days of prayer for Ukraine.” </p>



<p class="wp-block-paragraph">A bipartisan group of California lawmakers said Monday they also will introduce legislation to divest public money from Russian state entities. </p>



<p class="wp-block-paragraph">New York Gov. Kathy Hochul signed an executive order Sunday forbidding her state from doing business with Russia. She ordered state agencies to divest money and assets from companies or institutions aiding Russia in its war against Ukraine. The Democratic governor also said New York would welcome Ukrainian refugees, noting that New York already is home to the largest Ukrainian population in the U.S. </p>



<p class="wp-block-paragraph">On Monday, North Carolina Gov. Roy Cooper, a Democrat, ordered state offices under his control to terminate government contracts that benefit Russian businesses. </p>



<p class="wp-block-paragraph">Colorado Gov. Jared Polis, a Democrat, also has banned state agencies from doing business with Russian state-owned firms and their subcontractors. Colorado’s $61 billion state pension fund is pulling $8 million from a Russian state-owned bank identified in federal sanctions. Governors or other state officials in Connecticut, Indiana, New Jersey, Oregon, Virginia and Washington also have ordered a review of whether any state money is going to Russian companies or investments supporting the Russian government. A North Dakota investment board was due to meet later this week to discuss its investments in Russia. </p>



<p class="wp-block-paragraph">“If our state can put one brick in the wall around Putin, it will be a good thing, and we intend to do all that we can in this regard,” said Washington Gov. Jay Inslee, a Democrat. </p>



<p class="wp-block-paragraph">Two prominent Republican governors, Florida’s Ron DeSantis and South Dakota’s Kristi Noem, who are widely seen as angling for a White House bid, mostly took aim at President Joe Biden rather than issuing executive orders targeting Russia. They criticized his energy policies and said that had made it difficult to slap sanctions on Russia’s exports of oil and gas. </p>



<p class="wp-block-paragraph">Other governors are seeking to sever good-will relationships between their home states and those in Russia. </p>



<p class="wp-block-paragraph">Republican Gov. Larry Hogan announced Monday that he’s dissolving Maryland’s decades-old sister-state relationship with Russia’s Leningrad region after the invasion of Ukraine. Virginia Gov. Glenn Youngkin, a Republican, asked the cities of Norfolk and Roanoke to end their sister city partnerships with Russian cities. Iowa Gov. Kim Reynolds, a Republican, called for an end to its sister state relationship with Stavrapol Krai, Russia, and a strengthening of its sister state relationship with Cherkasy Oblast, Ukraine. </p>



<p class="wp-block-paragraph">Several states have expressed a willingness to provide housing to Ukranian refugees. The Washington state House and Senate each have added amendments to their budget proposals setting aside $19 million to provide services and temporary housing to refugees who come from Ukraine. </p>



<p class="wp-block-paragraph">Texas Gov. Greg Abbott, a Republican, posted on Twitter over the weekend that he has asked restaurants and retailers “ to voluntarily remove all Russian products from their shelves.” </p>



<p class="wp-block-paragraph">Officials in Alabama, Iowa, New Hampshire, North Carolina, Ohio, Pennsylvania, Utah, Vermont, Virginia and West Virginia — all states that control the sale of alcohol — have directed Russian-sourced alcohol to be removed from store shelves. </p>



<p class="wp-block-paragraph">“Utah stands in solidarity with Ukraine and will not support Russian enterprises, no matter how small the exchange,” Republican Utah Gov. Spencer Cox said.</p>



<p class="wp-block-paragraph"> ___ </p>



<p class="wp-block-paragraph">Lieb reported from Jefferson City, Missouri. Associated Press state government reporters from around the U.S. contributed to this report.</p>



<p class="wp-block-paragraph">DAVID A. LIEB | AP News</p>



<p class="wp-block-paragraph">Find your latest news here at <a href="https://hsjchronicle.com/">the Hemet &amp; San Jacinto Chronicle </a></p>
<p>The post <a href="https://hsjchronicle.com/us-states-adding-to-financial-pressure-on-russia-over-war%ef%bf%bc/">US states adding to financial pressure on Russia over war￼</a> appeared first on <a href="https://hsjchronicle.com">The Hemet &amp; San Jacinto Chronicle</a>.</p>
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