Budgets

The comptroller called for passage of a federal rescue bill and measures to shore up the city budget.

The city and state haven't put dollar amounts on what they need but both were already facing budget and pension stresses before the public health crisis struck.

Hotels and restaurants are losing as much as 50% of their business in the District of Columbia due to the coronavirus.

"I think it's way too early to determine how we're going to adjust the budget," the mayor said.

Chicago Mayor Lori Lightfoot's administration is stressing the city's improved liquidity and jolt of refinancing savings provide a cushion to manage the near-term tax losses.

The comptroller, citing projected losses in entertainment and tourism while the city is virtually closed, called for a savings target of 4% of tax levy-funded agency spending.

Cities and states that rely on hotel taxes and tourism-related revenues will lose billions as events and attractions shutter to slow the spread of COVID-19.

The New Jersey state teachers' union and state Senate President Steve Sweeney announced an agreement to lower school district and employee healthcare costs.

Chairman Patrick Foye says that the outbreak has no material effect for now, and the authority promises to continue timely disclosure.

Mayor Jim Kenney’s fifth budget proposal seeks to shield the city from a potential recession.

The city on Long Island tapped municipal finance veteran Donna Gaden to steer a turnaround following years of structural deficits.

Recently elected Mayor Justin Elicker revived an old municipal battle cry with a call for more contributions from Yale University and Yale New Haven Health.

Scranton, Pa., activist Gary St. Fleur describes his group's successful suit that claimed the city was overtaxing its residents under Pennsylvania law. Paul Burton hosts.

The city's sustained financial health is attracting private investment and enabling it to fund neighborhood infrastructure needs, Mayor Bill Peduto said.

The Democrat unveiled a $40.9 billion FY 2021 spending plan that again pushes for higher taxes on incomes above $1 million.

New York City has seen debt service savings in excess of $2 billion since 2014, but that the city must find more opportunities to cut costs, says Comptroller Scott Stringer.

Maria Doulis of the Citizens Budget Commission and Howard Cure of Evercore Wealth Management examine how the state's Medicare cost crisis could affect the city's budget. They also discuss the MTA, public housing and property tax overhaul. Paul Burton hosts.

Drawing the distinction between the region and the city helps the city provide better revenue projections going forward.

If House Bill 653 passes, Fitch Ratings says any rating impact would be felt by local governments that receive transfers, rather than by the utilities.

House Bill 653 would prohibit a municipal electric utility from using its revenues to finance general governmental functions.