JPMorgan Chase CEO Jamie Dimon recently warned that a “very, very serious” mix of headwinds was likely to tip both the U.S. and global economy into recession by the middle of next year (2023). Among the indicators ringing alarm bells, Dimon cited the impact of runaway inflation, interest rates going up more than expected, the [...]
Urban Futures, Incorporated (UFI) covers all aspects of fiscal administration and capital financing/reporting needs for public agencies large and small. UFI’s Public Finance Group, staffed with Series 50 municipal advisors, supports the issuance of debt and capital lease financing with municipal advisory services. UFI’s Public Management Group, supports non-municipal advisory services including fiscal forecasts, continuing [...]
In its practice, Urban Futures Incorporated (UFI) has seen where the lack of effective financial policies has resulted in inefficient financial management practices, increased risk, and the misalignment of financial operations with the overall mission of an organization. At its best, finance works quietly in the background, contributing to the overall service delivery operations for a community. But when things go wrong, financial administration failures are painfully visible.
On Tuesday, June 14, 2022, the City of Lake Elsinore (the "City") successfully sold $23.7 million of lease revenue bonds, generating $24.1 million in proceeds. The bonds are issued primarily to finance a new City Hall facility on a site adjacent to the existing city hall office at 130 South Main Street, financed over a 30-years at a true interest cost of 4.57%.
