Tonya Chin

For the first three quarters of its fiscal year, Puerto Rico’s expenses are running below budget, according to the quarterly review released on Monday by the government’s Office of Management and Budget.

The Suffolk County, N.Y., Legislature on Tuesday voted to have employees pay for part of the cost of their health insurance for the first time in the Long Island county’s history.

New York City Comptroller John Liu last week proposed a plan to accelerate $2 billion of capital spending over the next two fiscal years for school construction and other capital projects that have already been approved.

The New York State Thruway Authority plans to finance the construction of the new Tappan Zee Bridge mostly through toll-backed bonding, executive director Thomas Madison said.

Moody’s Investors Service on Thursday downgraded to Baa3 from A3 Rockland County’s $240 million of general obligation debt and placed the rating on review for downgrade.

Puerto Rico's Public-Private Partnership Authority and Ports Authority announced this week that two finalists have been selected for a public-private partnership to run the island's Luiz Munoz Marin International Airport.

Nassau County, N.Y., has selected New Jersey-based United Water to operate and improve the county's three troubled wastewater treatment plants.

Fitch Ratings has downgraded the upstate city of Utica’s rating to BBB from A-minus on $41.4 million of unlimited-tax general obligation bonds. The outlook is stable.

The Port Authority of New York and New Jersey last week launched a nationwide search for a chief financial officer to replace Michael Fabiano, who has announced he will retire at the end of this year.

Since 2008, the issuance of general obligation debt guaranteed by local governments in New Jersey has almost tripled, according to a report by Moody’s Investors Service.

Fitch Ratings has affirmed its AAA rating on $92.8 million of Series 2003 variable-rate demand bonds and $101 million of Series 2002 VRDBs issued by the New Hampshire Health and Education Facilities Authority.

The Dormitory Authority of the State of New York sold $86.3 million of New York University revenue bonds on Thursday.

Janney Capital Markets is continuing to expand its public finance team with the hiring of John Kelly as managing director in its Philadelphia headquarters and Elizabeth Caputo as director in its New York City office.

The Dormitory Authority of the State of New York is expected to issue $86 million of New York University revenue bonds on Thursday.

New York State ended its 2011-12 fiscal year with major reductions in structural budget gaps, but tax receipts underperformed expectations for the fifth year in a row, according to a report released by the state comptroller on Monday.

In a radio address on Saturday, Maine Gov. Paul LePage targeted a proposed $96 million bond package, saying the state must address its 2013 budget before he accepts any proposal.

If passed, Rhode Island’s new legislation to allow acquisitions would be a credit positive for small community hospitals in the state, Moody’s Investors Service said in a report.

Suffolk County’s larger than estimated deficit is a credit negative, Moody’s Investors Service said in a report last week.

Moody’s Investors Service cut Lopatcong, N.J.’s general obligation bonds one notch to A1 from Aa3.

In a meeting on Wednesday, the board of the Dormitory Authority of the State of New York approved $320 million in financings for higher education and health care institutions.