Regional News

Privately Run California Conduits Don't Disclose Salaries

Correction: The following story suggested the California Municipal Finance Authority ("CMFA") and the California Statewide Community Development Authority (CSCDA) are not required to disclose employee salaries. By law they must disclose salaries of employees but because they retain independent contractors for the administration of their programs they do not have employees and therefore do not disclose salaries. The CFMA also notes that there multiple Joint Powers Authorities that are administered by private companies.

SAN FRANCISCO — Two conduit bond issuers run by private firms appear to be the only entities out of thousands of government agencies in California that do not have to disclose any employee salaries.

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