Auditor Highlights Errors in State Hospital Bond Program
On Thursday, State Auditor Elaine Howle sent a letter to Gov. Jerry Brown (D) reporting that the California Health Facilities Financing Authority often misjudged when to sell bonds for construction and improvement projects at children's hospitals. Â As a result, the state paid "as much as $16 million in interest annually on the idle capital while the state was facing cash shortfalls," Howle wrote.
- "Expensive Errors Plague State Hospital Bond Program, Auditor Says" (McGreevy, "PolitiCal," Los Angeles Times, 7/12).