California Probes Oakland Schools Over Fund Transfers

Williams, Rochelle
April 2003
Bond Buyer;4/7/2003, Vol. 344 Issue 31609, p34
Trade Publication
The Oakland Unified School District, which in March 2003 requested California's largest-ever emergency school bailout of 100 million dollars, is under the scrutiny of the State Allocation Board (SAB) for transferring state reimbursement construction funds into the district's general fund account for operating purposes.The probe stems from the SAB wiring 33.7 million dollars in December 2002 to the Alameda County Office of Education, as repayment for 30 school modernization projects by the district. The concerns about the impact on federal tax law, recommending that the SAB speak with a tax attorney to guarantee are raised.


Related Articles

  • IRS Rules Plano, Tex., Health Issue Tax-Exempt. Albanese, Elizabeth // Bond Buyer;6/20/2001, Vol. 336 Issue 31164, p3 

    Reports on the United States Internal Revenue Service's ruling that the revenue bonds issued in 1997 by the Plano Health Facilities Development Corp. on behalf of Texas Health Resources were rightfully tax-exempt. Results of an investigation which showed that the bond were not used for a...

  • House Approves Compromise Cap Increase Bill. Kinnander, Ola // Bond Buyer;07/26/2000, Vol. 333 Issue 30940, p4 

    Reports the House approval of a community renewal bill on the increase of private-activity bond volume capital in the United States. Provisions of the bill; Call for an additional increase of bond volume capital; Account on the introduction of community renewal bill by several senators;...

  • D.C. Committees OK Stadium Plan; Barry Returns to Council. Vadum, Matthew // Bond Buyer;11/4/2004, Vol. 350 Issue 32004, p7 

    Reports that two Washington, D.C., council committees have approved Mayor Anthony Williams' proposed baseball stadium and community development package. Municipal bond financing included in the package; Bond issues and tax legislation required to finance the stadium's construction.

  • Watkins: Tax Enforcement Reforms Appear Achievable. Hume, Lynn // Bond Buyer;9/23/2002, Vol. 341 Issue 31476, p4 

    Reports the revised tax enforcement reforms proposal of municipal issuers and bond lawyers in the U.S. Plan of issuers to elect on the assumption of financial responsibility; Creation of monetary penalties and sanctions for tax-law violations; Information on the available sanction to the...

  • Colorado's effort to reduce taxes could lower tax bases, officials say. Preston, Darrell // Bond Buyer;01/08/99, Vol. 327 Issue 30554, p36 

    Reports that the proposed legislation to reduce taxes in Colorado Legislature could lower tax bases of municipal bond issuers. Bills that could potentially cut income to cities, counties and school districts; Law requiring lawmakers to return a year of excess revenue to taxpayers.

  • Price tag for Sen. Hatch's IRS reform proposal: $11 million. Resnick, Amy B. // Bond Buyer;03/31/98, Vol. 323 Issue 30362, p4 

    Focuses on the legislative proposal to enable municipal bond issuers to appeal an Internal Revenue Service plan to tax bonds. Additional federal revenue from the US Senate's IRS reform bill; Key provisions of the bill.

  • Tax-cut debates in congress touch municipal market. Ryst, Sonja // Bond Buyer;07/28/99, Vol. 329 Issue 30692, p7 

    Analyzes the impact of the tax-cut proposals in the United States Congress on the municipal bond market. Effects on the tax-exempt market; Current status of the municipal market; Demand for municipal bonds; Possible results of plans to raise the private-activity bond volume cap.

  • THE EQUITY EFFECTS OF A TAXABLE MUNICIPAL BOND SUBSIDY. Galper, Harvey; Peterson, George E. // National Tax Journal;Dec73, Vol. 26 Issue 4, p611 

    A subject of current debate is a taxable municipal bond subsidy plan that would subsidize state and local governments choosing to issue taxable rather than tax-exempt debt. This plan generally is regarded as a loophole-closing device that would help to achieve a more equitable wealth...

  • U.S. Rep. Thomas Names Chairs for Ways and Means Subcommittees. Ferris, Craig T. // Bond Buyer;1/7/2005, Vol. 351 Issue 32045, p6 

    The article informs that U.S. House Ways and Means Committee chairman Bill Thomas, has named the chairs of the panel's six subcommittees for the 109th U.S. Congress that convened this week, including new heads of four of the subcommittees. Some of the new chairs are, E. Clay Shaw, Jim Ramstad,...


Read the Article


Sign out of this library

Other Topics