Tuesday, June 14, 2005

Stem Cell Stakeholders Need the Financial Skinny

Californians know little about the budget or the spending of the California stem cell agency.

Officials have reported that money will run out in November unless more money is forthcoming. That was before the $5 million Dolby donation, which is presumably on its way.

Some details of spending by the agency have been published on this blog, including information about public relations programs and lobbying. Today reporter Laura Mecoy reported that "records requested by The (Sacramento) Bee that show (the agency) has contracted to spend up to $561,000 more than the $1.1 million previously reported for outside consultants and lawyers.

"The newly released records also show that the institute has $302,227 in debts or payments it has delayed to other state agencies, its law firm and others until it could get additional financing."

None of this is surprising. But given the public responsibilities of the agency and its pledge of openness and accountability, it is surprising that we have not seen a budget or least some sort of recap of spending from the agency. We understand that at least one Oversight Committee member is irritated at that failure.

It is also simply good government and good business to give the stakeholders the financial facts. Sphere: Related Content

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