Special Report
Fiscal Ferment
Click here for the latest on state & local budget battles
Florida's Scott Offers $66.4B Budget With Spending, Borrowing Cuts
By Shelly Sigo | Dec 09BRADENTON, Fla. — Florida Gov. Rick Scott Wednesday unveiled his 2013 budget proposal, which includes major cuts in spending and the state's borrowing program.
Illinois' Quinn Signs Bill to Bond for Unemployment
By Yvette Shields | Nov 21CHICAGO - Illinois Gov. Pat Quinn on Friday signed legislation authorizing the issuance of up to $2.4 billion in revenue bonds to pay off federal loans to fund the state's unemployment insurance program.
Chicago City Council Unanimously Approves Emanuel’s $6.3B Budget
By Yvette Shields | Nov 17CHICAGO - The Chicago City Council Wednesday unanimously approved Mayor Rahm Emanuel's rookie budget, a $6.3 billion spending plan for 2012 that eliminates a $635 million gap with layoffs, cuts, debt restructuring, and a series of tax, fine and fee increases.
Bonds This Week, Budget Next Week
Chicago Readies GOs Ahead of Vote
By Yvette Shields | Nov 08CHICAGO - Chicago enters the market this week with $412 million of new-money general obligation bonds ahead of an expected vote next week on Mayor Rahm Emanuel's first spending plan. [Free]
Illinois Facing a Full Plate
Gambling, Budget, Pensions on Tap
By Yvette Shields | Oct 25CHICAGO - Illinois lawmakers return Tuesday for their annual veto session facing a crowded agenda topped by a revamped gambling expansion bill, budget changes, pension reforms and ongoing talks over whether the state should borrow to pay down its bills. [Free]
California Revs a 'Credit Negative,' Could Trigger Cuts
By Randall Jensen | Oct 19SAN FRANCISCO - Lower-than-expected revenues could trigger budget cuts in California this year, with one rating agency saying that the revenue outlook is a credit negative.
Illinois Trimmed Bill Backlog, But Still Faces Huge Hurdles, Comptroller Says
By Yvette Shields | Oct 17CHICAGO - With its coffers bolstered by an income tax increase, Illinois has whittled down its backlog of bills to $3.8 billion from $5.5 billion at this time last year, but Comptroller Judy Baar Topinka warned in her quarterly report that "staggering fiscal challenges remain."
Michigan's Snyder Offers $145M of Cuts, Mostly in Prisons
By Caitlin Devitt | Sep 30CHICAGO - Michigan Gov. Rick Snyder this week unveiled $145 million of proposed cuts, mostly tied to the correctional system, to balance the budget as the state embarks on a fresh fiscal year starting Saturday.
Survey Shows State CFOs Fear Budget Cuts Will Add New Risks
By Paul Burton | Aug 19Eight of every 10 financial managers polled in a survey of state government chief financial officers and their peers say recent and future budget cuts will produce new kinds of risks.
N.Y. Comptroller: Surplus Is No More
By Paul Burton | Aug 18New York's surplus has evaporated, state Comptroller Thomas DiNapoli said in a report for July that his office issued on Wednesday.
