California Stem Cell Agency Bonds On Sale in March
By Dr. Matthew Watson
Early next month, the state of
California will sell $2.7 billion in bonds, a tiny fraction of which will go
towards the California stem cell agency.
It is all part of an arrangement that
currently involves short-term borrowing as well to keep the cash
pipeline at CIRM properly filled.
currently involves short-term borrowing as well to keep the cash
pipeline at CIRM properly filled.
To refresh some of you, the agency
subsists off money that the state borrows (bonds) instead of going to
the legislature annually for financial support. While that avoids
competing against school children, the poor, the University of
California, state colleges, parks, highways and other interests
seeking state funding, it also means that the cost of a $20 million
grant is something closer to $40 million because of the interest
expense.
subsists off money that the state borrows (bonds) instead of going to
the legislature annually for financial support. While that avoids
competing against school children, the poor, the University of
California, state colleges, parks, highways and other interests
seeking state funding, it also means that the cost of a $20 million
grant is something closer to $40 million because of the interest
expense.
The California Stem Cell Report last
week asked the state treasurer's office about the bond sale March
12-13 and what it means for the stem cell agency. Here is what Tom
Dresslar, spokesman for the treasurer, replied in an email.
week asked the state treasurer's office about the bond sale March
12-13 and what it means for the stem cell agency. Here is what Tom
Dresslar, spokesman for the treasurer, replied in an email.
“CIRM’s funding needs now are met
via the issuance of commercial paper (CP). They’re authorized
a certain amount of CP periodically. Then we work with them on
a regular basis to issue the commercial paper on an as-needed basis.
Last fall, they were authorized $160 million of CP. We will
issue the first $27 million under that authorization (this) week.
This spring, CIRM is scheduled to receive another $100 million
authorization. The Department of Finance , consulting with CIRM
officials, determined the $100 million would be needed to meet CIRM’s
funding requirements through the end of 2013.“Now, here’s where it gets a little
complicated. The state pays down the CP with bond proceeds.
The March ....bond sale includes $60 million of stem
cell bonds. Those proceeds won’t provide new money for CIRM,
but will pay down the CP proceeds CIRM already has used.”
Proposition 71, which created the stem
cell agency in 2004, authorized bond sales for stem cell research for
only 10 years. CIRM's financial timekeepers say the clock started
running when the first bonds were sold. The upshot is that the agency
will run out of money for new grants in less than four years.
cell agency in 2004, authorized bond sales for stem cell research for
only 10 years. CIRM's financial timekeepers say the clock started
running when the first bonds were sold. The upshot is that the agency
will run out of money for new grants in less than four years.
Source:Related Post
- Tracking the Fruits of California Stem Cell Agency Research - September 1st, 2013
- UCLA Snags $3.6 Million from California Stem Cell Agency - September 1st, 2013
- Stem Cell Agency Seeks Stronger Ties with Possible Industry Funding Partners - September 1st, 2013
- UCLA Takes Four of 13 Awards Today; One Business Wins - September 1st, 2013
- $41 Million in California Stem Cell Grants Virtually Approved - September 1st, 2013
- Stem Cell Agency Pays Tribute to the Late Duane Roth - September 1st, 2013
- Skin in California’s Stem Cell Game - September 1st, 2013
- California Stem Cell Agency's $150,000 Search for Its Financial Future - August 25th, 2013
- California Stem Cell Researchers to Receive $70 Million Next Week - August 25th, 2013
- Flim-Flam Stem Cell Artists Targeted by CIRM - August 25th, 2013
- California Stem Cell Agency Spending: Where the Money Is Going - August 25th, 2013
- A $2 Million Bill: Outside Contracting by California Stem Cell Agency - August 25th, 2013
- New Ties to Big Pharma and Venture Capital Proposed at California Stem Cell Agency - August 25th, 2013
- Bonilla: Veto of Pay-for-Eggs Bill Shows Troubling Mindset - August 18th, 2013
- 'Butter and Eggs Money" and a Gubernatorial Veto - August 18th, 2013
- California Gov. Jerry Brown Vetoes Pay-for-Eggs Legislation - August 18th, 2013
- A $6 Billion Question: Progress of the California Stem Cell Agency - August 18th, 2013
- Duane Roth: Ecumenical Innovator for San Diego and Biotech - August 18th, 2013
- Stem Cell Agency's Duane Roth Eulogized at Memorial Services - August 18th, 2013
- 'Paradigm Shift' -- Researchers as Patient Advocates? - August 18th, 2013
- California Stem Cell Agency on Lacks: Informed Consent Cannot Remove All Questions - August 11th, 2013
- Californians Top List of Stem Cell Honorees - August 11th, 2013
- The Henrietta Lacks Story and Eggs, Money and Motherhood - August 11th, 2013
- Skloots, Collins and More on Henrietta Lacks' Cell Line Deal - August 11th, 2013
- Memorial Services Friday for Duane Roth, Co-vice chairman of the California Stem Cell Agency - August 11th, 2013
- CIRM's Roth Dies Following Bike Accident - August 11th, 2013
- Pay-for-Eggs Legislation Now Before California Gov. Jerry Brown - August 4th, 2013
- Comment re Pay-for-Eggs Item and Forbes Article - August 4th, 2013
- Pay-for-Eggs Legislation: A Comment on Risk - August 4th, 2013
- Skimpy Coverage of Alpha Clinic Concept Approval - August 4th, 2013
- California Stem Cell Agency Looking for New Home in Two Years - August 4th, 2013
- California Stem Cell Official Duane Roth in Improving Condition - July 28th, 2013
- Another $23 Million to Recruit Star Stem Cell Scientists to California - July 28th, 2013
- California Stem Cell Agency Launches $70 Million Alpha Stem Cell Clinic Project - July 28th, 2013
- Coming Up: Live Coverage of Today's California Stem Cell Meeting - July 28th, 2013
- Stem Cell Lines and Paid-for Eggs: Stem Cell Agency Delays Action on Easing Restrictions - July 28th, 2013
- $70 Million Alpha Stem Cell Clinic Project Garners Mainstream Media Attention - July 28th, 2013
- UCLA Researcher Calls for Easing of Restrictions on Stem Cell Lines Derived from Eggs From Paid Providers - July 28th, 2013
- California Stem Cell Agency to Commit 20 Percent of Remaining Cash - July 21st, 2013
- Paying for Human Eggs, Ivan Illich and Jerry Brown - July 21st, 2013
- California's $70 Million 'Alpha' Stem Cell Clinic Plan Headed for Approval Next Week - July 21st, 2013
- TV News Piece on Pay-for-Eggs Airs in Los Angeles, San Francisco - July 14th, 2013
- Shestack Resignation Letter: Heartfelt and Eloquent - July 14th, 2013
- Veto Campaign Launched on California Pay-For-Eggs Bill - July 14th, 2013
- Sacramento Mental Health Advocate Appointed to Stem Cell Agency Board - July 14th, 2013
- California Stem Cell Merger: Capricor and Niles Therapeutics - July 14th, 2013
- Pay-for-Eggs Legislation: Strange Bedfellows and Existential Questions - July 14th, 2013
- "Comfort News" for California's Stem Cell Research Effort - July 14th, 2013
- HIV Clinical Trial Hailed by California Stem Cell Agency - July 14th, 2013
- Eggs and Cash: Stem Cell Agency Considering Easing Restrictions on Stem Cell Lines Derived Using Payments - July 14th, 2013
- California Legislation Removing Ban on Payments for Eggs for Research Heads to Governor - July 14th, 2013
- California Legislation, Human Egg Sales and Profits - July 7th, 2013
- Challenge to WARF hESC Patents Cites Recent U.S. Supreme Court Decision - July 7th, 2013
- Cost of a Stem Cell Therapy? An Estimated $512,000 - June 30th, 2013
- Bluebird and Banking: Media Pluses for California Stem Cell Agency - June 30th, 2013
- International team submits IND application - June 23rd, 2013
- Pay-For-Eggs Legislation Draws More Media Attention - June 23rd, 2013
- Compensation for Human Eggs Approved by Key California Senate Committee, But Not For CIRM Researchers - June 16th, 2013
- Merksamer Makes Only Bid For Stem Cell Agency Lobbying Contract - June 16th, 2013
- Cellular Dynamics: California Stem Cell Agency Recipient Plans $57 Million IPO - June 9th, 2013
- Light Coverage of Cellular Dynamics IPO But One Exec Says It's Good for Stem Cell Biz - June 9th, 2013
- Pomeroy on Doing the Right Thing and Foster Care - June 9th, 2013
- Vatican Funding for California Stem Cell Agency? - June 2nd, 2013
- Bluebird bio of Massachusetts Still Waiting for California Stem Cell Money - June 2nd, 2013
- California's Alpha Stem Cell Clinics: Open in 2014, Six to Eight Locations - June 2nd, 2013
- Monterey Newspaper Chides California Stem Cell Agency - June 2nd, 2013
- Trounson Proposes $70 Million, Fast-Track Stem Cell Clinic Plan for California - June 2nd, 2013
- $70 Million Alpha Stem Cell Clinic Proposal Draws Reader Comment - June 2nd, 2013
- Sacramento Bee: Ongoing Conflict Problems No Help for Future Funding of Stem Cell Agency - June 2nd, 2013
- Multimillion Dollar Carrots for Stem Cell Research in California - May 26th, 2013
- California Stem Cell Agency: 5 Percent Budget Increase for Coming Fiscal Year - May 26th, 2013
- $36 Million Recruitment: Names of Researchers Being Lured to California - May 26th, 2013
- Stem Cell Agency Approves $36 million to Recruit Six Scientists to California - May 26th, 2013
- California Stem Cell Agency to Court Patient Groups This Summer - May 26th, 2013
- Nature Reports on Lee Hood Conflict Case - May 26th, 2013
- Grant Reviewer Conflict in $40 Million Round at California Stem Cell Agency - May 26th, 2013
- Text of CIRM Comments on Lee Hood Questions - May 26th, 2013
- Replicating Oregon Cloning in California: Views on the Legality - May 19th, 2013
- Oregon-style Stem Cell Cloning Research Illegal in California: No Pay for Eggs in Golden State - May 19th, 2013
- Weissman Says Oregon-style Stem Cell Research Could be Done in California - May 19th, 2013
Stem Cell Therapy
Comments Off on California Stem Cell Agency Bonds On Sale in March |
March 3rd, 2013
This author published 5852 posts in this site.Share
Comments are closed.
Personalized Gene Medicine
| Mesenchymal Stem Cells
| Stem Cell Treatment for Multiple Sclerosis
| Stem Cell Treatments
| Board Certified Stem Cell Doctors
| Stem Cell Medicine
| Personalized Stem Cells Therapy
| Stem Cell Therapy TV
| Individual Stem Cell Therapy
| Stem Cell Therapy Updates
| MD Supervised Stem Cell Therapy
| IPS Stem Cell Org
| IPS Stem Cell Net
| Genetic Medicine
| Gene Medicine
| Longevity Medicine
| Immortality Medicine
| Nano Medicine
| Gene Therapy MD
| Individual Gene Therapy
| Affordable Stem Cell Therapy
| Affordable Stem Cells
| Stem Cells Research
| Stem Cell Breaking Research