State Treasurer John Chiang unveiled a new open data website today, providing important details about $1.5 trillion in debt issued by state and local government entities as part of his ongoing efforts to promote transparency in government. The site, debtwatch.treasurer.ca.gov, makes it easier for taxpayers to track proposed and issued debt, cost of issuance, and bond and tax election results.
“The state and its local governments have borrowed more than $1.5 trillion from Wall Street over the past three decades to build roads, schools, and other critical public works,” said Chiang. “Bonds are not free money and, indeed, obligate the public to repay them through higher taxes and fees. DebtWatch aspires to empower Californians to hold government accountable for its borrowing decisions.”
The site’s debt-related information covers more than 30 years, from 1984 to the present. Included are more than 2.8 million fields of data, which will be updated monthly. State statute requires government entities to submit debt issuance data to the Treasurer’s California Debt and Investment Advisory Commission (CDIAC) in a timely manner.
“The new DebtWatch data portal provides the public, the media, policy makers and local agencies themselves a great new resource for understanding state and local government bond activity,” said Matt Cate, executive director of the California State Association of Counties (CSAC). “We applaud State Treasurer Chiang’s continued commitment to use the latest technology to promote public finance accountability and understanding.”
Beaumont’s Mello Roos Bonds total $348,504,000 with $292,791,539 Classified as ‘New Money’.
Beaumont CFD 93-1:
Principal: $348,504,000
Refunding: $55,712,461
New Money: $292,791,539
Beaumont CFD 93-1: http://debtwatch.treasurer.ca.gov/debt-comparison/type=Mello-Roos