Budgets

"Some have called on us to use our rainy-day fund to cover asylum seeker needs. We do not agree and neither do our city and state comptrollers as well as the bond rating agencies and fiscal experts," said NYC Mayor Eric Adams.

The 2025 state budget would provided $2.4 billion to New York City to pay for the costs of caring for a rising influx of migrants, which includes taking $500 million from reserves.

The Municipal Securities Rulemaking Board is coming under fire from broker-dealer and municipal advisor groups for what those groups see as an opaque process.

The county said this action will reduce its debt service costs by $115.9 million over the next six years.

So far, the temporary Bally's casino in Chicago has brought in about a quarter of the tax revenue it needs to generate to keep up with budget expectations.

The Arizona Board of Regents adopted a report recommending greater oversight of its three universities after the University of Arizona hit financial trouble.

"The city cannot provide everything to everyone. But it can thrive and help our most in-need neighbors if it prioritizes key services, relentlessly manages them to get results, and operates effectively and efficiently," said the CBC's Ana Champeny.

The city has made some important progress on the expenditure side, but the new mayor's first budget didn't make similar strides on revenues, according to Fitch.

The Metropolitan Transportation Authority's potential budget gaps could widen to nearly $900 million in 2026, according to the Citizens Budget Commission.

Without a lot of additional state and federal aid, New York City is forecasting it will spend about $12 billion in costs related to the influx of migrants to the city in fiscal years 2023, 2024 and 2025.

New House Speaker Mike Johnson has laid out an aggressive calendar to avoid a government shutdown.

The study confirms the Bay is one of the most valuable in Florida, says Miami-Dade County Mayor Daniella Levine Cava.

"Further declines could weaken New York's tax revenue from the securities industry and have repercussions for our state and city budgets," said New York State Comptroller Thomas DiNapoli.

The proposed spending plan includes the first chunk of money from the city's new casino, which will support underfunded police and fire pensions.

The Municipal Securities Rulemaking Board's FY 2024 budget represents a 4.8% increase over the prior fiscal year.

Ed Koch, the late mayor of New York, used to ask residents "How am I doin' ?" The Citizens Budget Commission plans to do that this fall with a survey.

The city ranks last among 32 U.S. cities in an index that tracks secondary market prices for general obligation bond debt.

The governor said the budget would needlessly wipe out a rainy-day fund.

Mayor Brandon Johnson is set to unveil a spending blueprint with new revenue proposals next month.

"In the coming weeks, we will be taking a much closer look at the challenges we face and how we will address those challenges reasonably and responsibly," said Mayor Brandon Johnson.