Rich Saskal

SACRAMENTO — California Gov. Arnold Schwarzenegger unveiled his initial fiscal 2011 budget proposal Friday, asking for almost $7 billion in federal funds to help close a budget hole in the $20 billion range.

SACRAMENTO — California Gov. Arnold Schwarzenegger unveiled his initial fiscal 2011 budget proposal today, which calls for “external borrowing” as part of plans to manage cash flow as the state attempts to close a hole of almost $20 billion.

SAN FRANCISCO — After putting an optimistic spin on his final state of the state address Wednesday, California Gov. Arnold Schwarzenegger will address the grim specifics of the state’s budget today, unveiling his formal proposal to close a general fund gap pegged at almost $20 billion over the next 18 months.

Gov. Brian Schweitzer Tuesday formally asked state agencies to submit plans to reduce agency budgets by 5%.

Lower-than-expected construction bids have led the Idaho Transportation Board to reduce its latest request for Garvee bond authority.

Gov. Arnold Schwarzenegger has promoted the man who has served as his point-person for water issues, including the $10 billion water bond proposal that lawmakers agreed to last year.

Some Los Angeles city officials are laying the groundwork for a ballot measure to scale back pension benefits for newly hired city employees, the Los Angeles Times reported this week.

Standard & Poor’s Tuesday upgraded the long-term and underlying ratings of the Scripps Health hospital system to AA-minus from A-plus.

SAN FRANCISCO — While acknowledging the continuing severity of California’s budget crisis, Gov. Arnold Schwarzenegger highlighted new spending proposals during his final state of the state address yesterday.

SAN FRANCISCO — Mike McGinn took the oath of office as Seattle’s new mayor Monday, and focused his first executive actions on the city’s expected budget shortfall.

SAN FRANCISCO — California’s budget problems will be back in the spotlight this week.

SAN FRANCISCO — Citing the recession’s impact on tax revenue, Moody’s Investors Service on New Year’s Eve revised its outlook to negative from stable on Washington’s Aa1 general obligation bond rating.

WALNUT CREEK, Calif. — When Douglas Montague entered the financial adviser sector he had a clear vision statement.

SAN FRANCISCO — California Treasurer Bill Lockyer has appointed treasurer’s office veteran Barbara Tanaka as deputy executive director of the California Debt and Investment Advisory Commission.

SAN FRANCISCO — Hawaii Gov. Linda Lingle is proposing to further restructure the state’s debt portfolio as part of a budget revision proposal that is primarily focused on dealing with a continued decline in tax receipts that is threatening to throw the budget out of balance.

SAN FRANCISCO — The California Pollution Control Financing Authority has $590 million in new allocation for private-activity bond debt, after of a flurry of activity this month by the state’s debt limit committee to distribute almost $1.8 billion in volume cap before the end of the year.

Voters in Riverside County, Calif., last week approved a proposal from the bankrupt Valley Health System to sell the public district's two hospitals and its other real estate assets to a for-profit group of local physicians.

The value of Oahu property declined this year. The city and county of Honolulu, which governs the entire island, mailed tax assessment notices this week, and officials say total gross assessed valuation of all taxable real property on Oahu decreased from $191.2 billion to $178.3 billion, an overall decrease of 6.7%.

Alaska general fund spending would grow more than 8.5% in fiscal 2011, under the budget proposal Gov. Sean Parnell delivered Monday.

The California Department of Finance reported this week that revenue continues to flow into the general fund at a weaker-than-projected pace.