"We speak again of that near-invisible form of local government called "special districts" - usually single-purpose agencies that form an awe-inspiring patchwork quilt above, below and alongside your higher-profile city and county governments. Some special districts deliver your water. Others cart away your sewage. Still others handle regional transportation, fire services, health care, cemeteries ... heck, some even battle mosquitos and rats! Heaven knows we need separate little governments for that."
"Anyway, the money these districts amass can truly take one's breath away. So much so that the state's earnest (but unfortunately toothless) watchdog agency - the Little Hoover Commission - convinced officials to publish financial details on the 250 flushest special districts each and every year. To what end, now, we're not so sure. But we pore over that data regularly, and erupt in hives each time."
"the tremendous growth in their cash and investments: -In 2007, special districts had amassed $17.9 billion in liquid accounts. -In 2017, that total soared to $47.1 billion. -And in 2024, it ballooned to $73.2 billion. Which is to say, special district cash and investments more than quadrupled between 2007 and 2024 (up 309%), while inflation rose just 54%. On average, they hold cash and investments equal to what they spend over 17 months, according to data from the state Controller."
Special districts are near-invisible, usually single-purpose local government agencies handling water, sewage, transportation, fire, health care, cemeteries, and pest control. The Little Hoover Commission persuaded officials to publish financial details on the 250 flushest special districts annually. Special district cash and investments rose from $17.9 billion in 2007 to $47.1 billion in 2017 and $73.2 billion in 2024, a 309% increase versus 54% inflation. On average, districts hold cash and investments equal to 17 months of spending. Revenues and expenses have surged, and funding comes from customer rates and fees, property tax shares, and investment returns.
Read at The Mercury News
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