CPA-PAC success: well-attended fundraising breakfast a hit.

• Author: Allen, Bruce C.
• Position: Capitol Beat

CPA-PAC held its first ever fundraising breakfast June 26 to support candidates for state offices based on their ability to make a difference for California CPAs and businesses.

Nearly 200 CPAs attended to hear keynote speaker Lt. Gov. Gavin Newsom. Newsom shared his thoughts about the evolving business climate in California and how the status quo can change instantly with a new idea or new technology. Given the demands placed on businesses today--including regulations, public pressure and shareholder demands--Newsom believes CPAs are the trusted advisers who can help companies through these evolving times.

"What makes California great is the ability to live together, advance together and prosper together," said Newsom.

"It's mission-critical that we have policy-makers who understand the true role and value accountants serve in the business community, whether the CPAs are in public practice, government, education or operating within a business," said CalCPA CEO Loretta Doon. "The CPA-PAC supports officials who understand that role so they can enter the legislative process fully informed on matters that impact, or are impacted by, our profession."

The CPA-PAC (www.calcpa.org/government-relations/cpa-pac-q-and-a) breakfast was a great success as CPAs across the state were able to network and listen to one of the state's top political figures. Thank you to all the CPA-PAC members who contributed to the CPA-PAC and made a commitment to support public policy leaders, regardless of political affiliation, who support the CPA profession and businesses.

Gov. Brown Signs Budget

The governor signed the budget that passed through the Legislature, which creates a $115.4 billion general fund spending plan. The governor's budget increased the total state spending to $169 billion. An increased allocation of funding for education, drought response and a new S380 million, earned income tax credit to assist low-income families made up the majority of the revisions from the governor's original budget draft in May.

The revised budget also pays down long-term state debt and adds to the state's Rainy Day Fund. The budget that passed through both houses still contains Gov. Brown's conservative estimates and lower overall spending, with the exceptions being an increased spending for education, and expansion of Medi-Cal to cover undocumented children inserted by the Legislature in the finalized budget.

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