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Oakland City Auditor - "Benefits and Challenges of Issuing Pension Obligation Bonds"

 
from Courtney A. Ruby, Oakland City Auditor 
 

Dear Oaklanders:

Today I would like to share with you a special report that evaluates the benefits and challenges of issuing Pension Obligation Bonds (POBs) to fund a one-time contribution to the Police and Fire Retirement System (PFRS) trust fund. I commissioned this report after City staff presented an analysis to the Finance and Management Committee this past spring.

SFPUC breaks ground on first-ever tunnel underneath San Francisco Bay - Dumbarton Bridge

In late September, Bay Area officials joined the SFPUC to break ground on the first-ever tunnel underneath San Francisco Bay near the Dumbarton Bridge.

The 5-mile-long, 15-foot-diameter tunnel will cross the bay at depths of up to 100 feet and be part of the Hetch Hetchy Water System. The Bay Tunnel project is part of SFPUC’s $4.6 billion regional Water System Improvement Program (WSIP) and is expected to be completed in 2015.

Watch the groundbreaking ceremony on YouTube

 

Important changes in employee notification requirements


The California Division of Workers’ Compensation (DWC) recently revised employer notification requirements which go into effect on October 8, 2010. The DWC’s objectives for the amended regulations are to streamline the employee Medical Provider Network (MPN) notices and procedures, update the employee information provided to workers, and reduce the administrative burden and costs in California’s workers’ compensation system.

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