Budgets

Illinois tentatively plans to sell $1.2 billion of certificates next week and $1 billion of bonds the following week.

William Glasgall of the Volcker Alliance explores deficits, budget cuts, rainy-day funds and borrowing options amid the COVID-19 pandemic. Paul Burton hosts.

The large Illinois county says it's too early to say how it will close its more than $200 million gap, but it has reserves and is lobbying for federal relief.

Mayor Eric Garcetti declared a state of fiscal emergency when he delivered his budget proposal for fiscal 2021.

The rating agency delivered the latest coronavirus-related hit to the city's ratings by cutting its outlook. The city's GO bonds were affirmed at AA.

Despite severe budget stress, the city and state can take some meaningful actions, such as reviving the restaurant industry, expanding the role of P3s and rebuilding multi-purpose infrastructure, analysts say.

In the wake of the COVID-19 pandemic, the city's budget shrinks by $6 billion.

New York's mayor announced sharp cuts, a draw on reserves and a call for further assistance from Washington.

The city faces the loss of $348 million of revenue because of the economic shutdown, threatening the balanced budgets it needs to avoid state intervention.

The city is projecting a $100 million deficit in its current budget once the public health crisis caused by COVID-19 eases, Mayor Mike Duggan said.

The council wants to focus on the social safety net in light of the COVID-19 pandemic.

Lori Lightfoot's confident statements about the city's fiscal resilience aren't wholeheartedly shared by the muni buy-side as the coronavirus hurts the economy.

The rating agency echoed others in citing the New York transportation system's hard fall since the coronavirus outbreak.

Negative outlooks trigger questions about other reeling areas in the capital markets crosshairs.

The rating agency expects a 'sudden and severe decline in the city's sales and income taxes' as a hit to the city's budget and economy from the coronavirus crisis.

The nation's second-most-populous county is factoring in a recession as it runs fiscal models on COVID-19's impact and is banking on federal aid for hospitals.

The Citizens Budget Commission is calling for far larger cost cutting and predicts that New York City could see $20 billion of lost revenues over three fiscal years.

Despite rising 3% in 2019, DiNapoli expects bonuses to drop this year.

The mayor cited COVID-19 as a spending priority while cases in his city represent more than one-third of the nation's total.

New York MTA and 10 other transit systems have cited the crippling effects of ridership drops due to COVID-19.