Special Report
2010 Fiscal Ferment
Click here for the latest on state & local budget battles
Clock Runs Out on California Bills
By Rich Saskal | Sep 02ALAMEDA, Calif. — A bill to limit the ability of California local governments to file for bankruptcy expired Tuesday in the last-minute frenzy that marked the end of the regular 2010 session for the state’s stalemated Legislature.
Kansas Buoyed as August Revenues Come in 10% Higher Than Forecast
By Jim Watts | Sep 02DALLAS — Kansas general fund revenue came in 10% higher than expected in August, which Gov. Mark Parkinson called “another clear sign” the state’s economy is beginning to recover.
Rhode Island Gov. Supports Embattled $75M Bond Proposal
By Ted Phillips | Sep 01Rhode Island Gov. Donald Carcieri on Tuesday blasted the state treasurer for attempting to halt a $75 million taxable bond deal.
Oregon Faces 3% Revenue Decline; Governor to Ask Agencies for Cuts
By Randall Jensen | Aug 30MENLO PARK, Calif. — Oregon’s budget woes have worsened with the state economist’s office forecasting a more than 3% drop in revenue due mainly to a dearth in tax collections.
California Lawmakers Weigh Hundreds of Bills as Adjournment Nears
By Rich Saskal | Aug 27ALAMEDA, Calif. — California lawmakers are rushing through hundreds of bills as they face a looming deadline to adjourn their 2010 session. [Free]
Mississippi Lawmakers Face $50M of Bonds for Biofuels Company
By Shelly Sigo | Aug 27BRADENTON, Fla. — The Mississippi Legislature was expected to be in a special session today deciding whether to approve $50 million of bond financing and other incentives for a biofuels company.
Chicago Board of Ed Adopts $6.5 Billion Budget Including Debt Restructuring
By Yvette Shields | Aug 26CHICAGO — The Chicago Board of Education late Wednesday adopted an amended $6.5 billion fiscal 2011 budget after the district’s administration scraped plans to fully wipe out reserves to help eliminate a $370 million deficit by instead restructuring some debt.
Puerto Rico Needs to Curb Employee Benefits: Report
By Michelle Kaske | Aug 26Puerto Rico should consider cutting employee benefits, boosting employee contributions and implementing a special tax to shore up its pension system, according to a report Wednesday from the Center for the New Economy.
California Advances Bill to Curb Municipal and Agency Bankruptcies
By Rich Saskal | Aug 25ALAMEDA, Calif. — A bill designed to make it harder for California local governments and agencies to file for bankruptcy cleared a key committee Tuesday afternoon.
California To Hold Back $3 Billion
Schools, Counties Hit as Crisis Lingers
By Rich Saskal | Aug 25ALAMEDA, Calif. — With no obvious progress in sight on California’s seriously overdue budget, state financial officials announced plans to defer almost $3 billion in payments to schools and county governments next month. [Free]