News

The Hon. John Moorlach, California State Senator paid his annual visit to our chapter this month giving us an entertaining and informative update of our State’s financial condition and the challenges we face in coming years from a fiscal perspective. John is a team player in the Senate despite being a member of the minority party and has gained respect for his contributions as the only Certified Public Accountant in both houses of the Assembly. Unfunded pension liabilities continue to grow as investments continue to yield only a fraction of that necessary to meet the 7.5% actuarial remedy, a dilemma shared by many states and local governments. John’s past leadership in Orange County and his success in bringing the County out of bankruptcy has gained the respect and awareness by both parties of his insight into the problem and his current exposure of spending excesses that must be remedied to bring fiscal order back into our state. His popularity with the media has brought focus on the issues and his ability to confront them in a constructive way led to his recent reelection. Given his popularity and speaker demand, we are grateful that he is willing to speak off the record to our Chapter year after year.

Moorlach Presentation-2016