Budgets

The upcoming fiscal 2025 budget will take "some first steps" to address a structural gap of about $158 million, Melissa Dubowski said.

As Texas' governor starts busing migrants to Illinois suburbs, social services agency and public safety budgets are likely to see some strain.

"There's a reason Guam is investment grade," said Muni Credit News Publisher Joseph Krist.

With its cash balance eroding due to a budget imbalance, the university, under the watchful eye of Arizona's governor, will undergo system-wide changes.

The Municipal Securities Rulemaking Board's 2023 audited financial statement shows the board collected an additional $19 million in revenue as compared with the 2022.

"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.