First Lady Maria Shriver
State Capitol Building
Sacramento, CA 95814
Phone: (916) 445-2841
Fax: (916) 558-3160

Mrs. Shriver and Honorable Governor,

My intent today is to inform you of an another area not addressed by the Honorable Governor in his budget. I reviewed the Statement of Securities Accountability of the State Treasurer's Office for July 2010. I have submitted the link for your review.

http://www.bsa.ca.gov/pdfs/reports/2010-008.pdf

While reviewing this public disclosure it occurred to me that the State of California has conducted business through the State Auto Insurance program. This program has provided more revenue than it has cost the State of California. In return, the State of California should be able to claim the profit as revenue for the purpose of budgetary needs.

While the State Insurance profit is clearly State generated revenue, it is in the best interest of the State to continue to maintain funds that are deemed adequate according to law while turning over profit to the State for the benefit of the agency.

While maintaining compliance with all State and regulatory laws, the State of California has provided a service for profit. In so doing, has also provided revenue that, in times deemed emergency, would allow for the profit to reduce the burden of furloughs and increased taxes.

It is with my utmost respect that I request a review of this current proposal for current emergency needs and future emergency needs that are due to economic crisis, unrelated to budgetary crisis.

Thank you for your time.

Patricia Pearson

Tags: Governor California Profit

Tags: State Insurance Profit