Chief Executive Officer
Fiscal Crisis & Management Assistance Team (FCMAT)
Mike Fine became Fiscal Crisis and Management Assistance Team (FCMAT), Chief Executive Officer on July 1, 2017. Before joining FCMAT in 2015, Mr. Fine served a combined 13 years as interim superintendent and deputy superintendent of business services and governmental relations at the Riverside Unified School District. Mr. Fine has experience as Assistant Superintendent at Newport-Mesa Unified School District and Financial Administrator in accounting and indirect budgets at Hughes Aircraft Company and General Dynamics Corporation.
Mr. Fine is a regular presenter at many state and national convenings, workshops and professional development programs. He has degrees in accounting and public administration. Mr. Fine has a long history in governmental relations, working closely with policy makers in Sacramento on behalf of California’s K-12 students.
This session will discuss the magnitude of claims, those agencies directly impacted, and the limitations on our ability to estimate the full scope of liability. Panelists will frame our understanding of the total liability versus the general fund capacity of local agencies, the potential effects on public services, and the current response strategy of local leadership. The session will also discuss the direct and indirect ratings implications, potential risks of financial contagion, and the impact on the cost of financing.
The difference between the amount of a settlement or judgement and public agency liability coverage most often can’t be drawn from reserves without threatening an agency’s long-term financial sustainability. Developing a payment strategy for filing the gap will be essential. This session will discuss the strengths and weaknesses of different payment strategies for different agencies including receiverships and emergency apportionments, tax increases, and bond issuance. Panelists will address the challenging constitutional, statutory, and procedural hurdles and how they may be overcome to form a viable payment strategy.