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County's deficit dwarfs budget cuts in Orange County
ANTA ANA Calif Orange County the fifth most populous and one of the wealthiest faces a 172 million shortfall as the fiscal year ends June 30 Paul Sachs of Arthur Andersen told the Board of Supervisors after only 40.2 million in cuts so far The county filed for Chapter 9 bankruptcy last month over a 2 billion loss from a failed investment pool Officials warn even larger deficits loom for 186 other local entities tied to the pool and lenders demand a sizable operating surplus before debt payments can be refinanced
MENTIONED IN THIS ARTICLE
Anta Ana
Calif. Se
Orange County
Paul Sachs
Arthur Andersen & Co
Board of Supervisors
Marian Bergeson
Andersen
Sachs
Bruce Bennett