Budgets

The $107 billion adopted budget for fiscal 2024 maintains a near-record $8 billion in total reserves but doesn't increase them.

The Board of Education approved a fiscal 2024 budget amid warnings about the need for more state help to manage a gap of up to $700 million in fiscal 2026.

The plan includes a bump to public employee salaries and new spending on education.

The gap next year is up from the $18.2 million shortfall projected heading into the fiscal 2023 budget season but down from the $121.4 million projection in 2022 and the expected near-record $410 million hole that loomed in 2021.

The fiscal 2024 budget proposal leans on federal funds, better-than-expected tax collections, and a drawdown on reserves to bankroll a wide array of capital work and a boost to state employee salaries.

The bill includes provisions to reduce the state's CBT rate and shield some overseas profits from local taxes.

The Massachusetts Bay Transportation Authority's budget is focused on safety improvements after federal regulators pointed out deficiences.

The recent influx of migrants has stressed the city's social services system amid uncertainty about whether funding will come from state or federal government.

Included in the plan is a $545 million for a loan to the Puerto Rico Electric Power Authority and more money for the government's emergency reserve.

Although Hawaii lawmakers nixed his proposed tourist tax, Gov. Green points to positives.

While fiscal 2023 and 2024 budgets remain balanced, outyear gaps increase to $4.2 billion, $6.0 billion and $7.0 billion in fiscal 2025 through 2027, respectively.

Secretary of Transportation Pete Buttigieg appeared before the House Appropriations Committee to warn of serious consequences of budget cuts.

The proposed budget would add 400 more police officers and spend $1.3 billion on programs to ease homelessness.

"If banks become even more reluctant to make new loans, the likelihood of a recession grows," says New York City Comptroller Brad Lander.

Mayor Eric Adams executive budget "will be released in just 51 days, giving us limited time to marshal the substantial resources we will need to stay balanced in fiscal 2023 and 2024," said OMB Director Jacques Jiha.

Mayor Mike Duggan proposed a budget that includes the resumption of general fund pension contributions, meeting a timetable set in the city's bankruptcy exit.

High turnover rates in key government positions make it hard for the town of Wellfleet, Massachusetts, to stabilize its finances, a state report said.

A panel that includes public finance professionals is tasked with finding fiscal and operational solutions for the transit systems, which face a fiscal cliff.

New York State Comptroller Thomas DiNapoli talks with Chip Barnett about his proposal for an amendment to the state constitution to limit backdoor borrowing by agencies and give voters a bigger say on bond issuance. (25 minutes)

Gov. J.B. Priztker touted the state's fiscal progress in his combined budget and state of the state speech.