Supplemental Information

This is a collection of memos and reports, videos, a list of key data sources used by YourPublicMoney.Com, and reports from a Peer Review Group of financial professionals who reviewed our analysis and conclusions regarding Mendocino County's debt.

Most of the titles of items below are links. Most links will open a new window and leave this window on your screen. Close the new window when you're done with it.

Some items are not links; the underlying documents are not available on line. For these items we tell you where you can find the documents.

Our memos and reports are in the left column. Videos, the Peer Group reports, and our Data Sources are in the right column. Scroll down to find the item you're looking for.

Memos and Reports

YourPublicMoney.Com produces memos and larger reports from time to time about the issues addressed in this website. Many originally appear as Supplementary Information in the website that provide more detail about specific topics being discussed.

Some of these titles will open a New Window. Some are web pages, others are pdf files. For the pdf files (portable document format) you need a free copy of Acrobat Reader available by clicking here.

We post new Memos and Reports every few weeks - check back.

• Excerpts from First Mendocino County Debt Report dated 10/16/08 (NOTE - zip file link below): (2/4/10) The purpose of this excerpt from the original 45 page report is to show Mendocino County citizens the breadth, depth, and extent of this report that County officials have not made even one attempt to refute in the 16 months since it was published. - pdf file (915KB)
• Excerpts from First Mendocino County Debt Report dated 10/16/08 (NOTE - zip version): (2/4/10) A "zip version" of the report above - should download in 1/3 less time, but you have to be able to "un-zip" the file. pdf file (656KB)
• Supervisors in the Frying Pan - Two Huge Issues - 2009/10 Budget Report Card: Grade F: (12/1/09) Mendocino County's Pension Fund was $130 million below its target investment returns in the past 2 years. If nothing changed the County's payments would jump from $6 million to $60 million in a decade. This memo describes the two immediate challenges they faced. The BOS receives a failing grade. - pdf file (282KB)
• Lies, DAMN LIES, and Actuarial Statistics: (8/27/09) The Value of the Pension Fund is calculated by subtracting Total Pension Obligations from the value of Pension Fund Assets. But there are two types of Asset Values - the real Market Value, and the calculated Actuarial Value. It's extremely not to misuse or confuse the two, as County Officials are doing. - pdf file (371KB)
• The 800 Pound Gorilla: (8/27/09) A 1 page summary of the paper below - pdf file (296KB)
• The 800 Pound Gorilla: (8/27/09) 6 pages - The Market Value of the County's Pension Fund is about $113 million less than it needs to be to pay all the pensions it owes in the future. County officials are focusing on trying to reduce payments to the Fund over the next few years to help get through the current budget crisis. But they are ignoring the "800 Pound Gorilla". - This debt will grow 8% a year until it is eliminated. This is a very dangerous situation and there are no good solutions - pdf file (367KB)
• County Comparisons: (7/1/09)Most Indebted Per Capita - California County comparative debt measures, rank ordering, and graphs based on the 2007 Annual Counties Report from the State Controllers Office - pdf file (397KB)
• Unfunded Pensions - Situation: (4/30/09) Report immediately after County learned its Actuary predicts a $125 million Unfunded Pension Obligation as of 6/30/09 - pdf file (351KB)
• Questions for 3/18/09 Meeting: (3/12/09) Memo for meeting arranged by 2 Supervisors with me and Retirement Association officers - questions, data, analysis. Retirement officers did not prepare for these questions and for the most part have made no attempt to answer them. pdf file (398KB)
• Two Stories: (5/10/09) These narratives give a sense of how the County Board of Supervisors has approached issues relating to its debt including telling the people the truth - web page in new window.
• BOS Debt Actions: (3/8/09) A Sampling of Board of Supervisors actions regarding debt since 1996 - including telling the people the truth pdf file (333KB).
• Retiree Healthcare Debt Brief: (10/8/08) Analysis of Mendocino County's Retiree Healthcare debt-with AON consulting valuation attached - pdf file (519KB).

Videos

First - Do No Harm

Mendocino County's Deeply Flawed Financing of Retiree Healthcare

We've just released our first in a series of videos examining Mendocino County's debt. This video dives deep into Mendocino County's deeply flawed funding of Retiree Healthcare.

• Why this benefit was doomed by County officials from the start.
• How the County's Funding of this benefit directly increased long-term debt.
• How it severaly damaged thePension Fund.
• How this funding was extremely devious and hide the true financing from the public.

Click below (it's a serious video - slightly over 50 minutes)

First - Do No Harm , 12/1/09

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These are best viewed on high-speed internet connections.

Some people can't pause the videos or rewind - most should be able to. If you have that problem, you may want to download the video. Windows users - right click- then "Save Target As" - give it a name and browse to the folder to which you want to save it.

• Board of Supervisors - 9/15/09 - Part A: Good discussion of changes needed in County Planning process (planning for the County, not the Building Department). You see frustration at the lack of County Executive leadership. 15 minutes.

• Board of Supervisors - 9/15/09 - Part B: Supervisor Colfax gets very angry at another Supervisor - mostly uncut. 20 minutes

• Board of Supervisors - 6/3/09: Working on fiscal year 2009-10 budget. Issue - layoffs in Sheriff's Department. You will see for yourself the desperate situation. - 8 minutes.

Peer Review Group

Three financial professionals reviewed our analysis of Mendocino County's debt with a focus on the cause of most of that debt - unfunded retiree obligations. The group was organized at the end of 2009. In early February 2010 the Group published a letter in the Ukiah Daily Journal and provided the County Board of Supervisors with a more detailed report about their findings. Both are available below.

• Video of 2 Peer Group Members "stirring up" County Supervisors: Financial Pros deliver bad news to the Board of Supes - some get excited (video - 24 minutes).
• Letter to BOS and Citizens: This is the text of the article that was published in the the Ukiah Daily Journal on 12/2/10. (pdf file - 92KB).
• Report to Board of Supervisors: This is a more detailed report of Peer Group findings and recommendations that was provided to the Board of Supervisors. (pdf file - 37KB).

Data Sources

These are some of the more important sources of data and information we used in our analysis of Mendocino County's debt.

• General List: A pdf file with many of the important data sources - pdf (321KB)
• County of Mendocino Audit (Financial Statements) Reports: Available online for 2000 forward. Previous year audit reports available in the County Auditor’s Office at 501 Low Gap Road, Ukiah.
• County of Mendocino Final Budgets:Some online. Previous year budgets available in the County Auditor’s Office or County Chief Executive Office at 501 Low Gap Road, Ukiah.
• Mendocino County Employees Retirement Association Audit (Financial Statements): Reports not on line - available at MCERA office, 625-B Kings Court, Ukiah
• Counties Annual Reports: State Controllers Office website page listing all publications - choose the Counties link.
• Public Retirement Systems Annual Report: State Controllers Office website page listing all publications - choose the Public Retirement link.
• Actuarial Valuation - Retiree Healthcare: (8/21/08) First report County ever received about its Unfunded Retiree Healthcare debt - pdf file (323KB).