Deficits

The state's backlog of unpaid bills could skyrocket to $23.7 billion without budget changes, said a new report from Gov. Bruce Rauner's administration.

Toni Harp says New Haven does not intend to apply to Connecticut's oversight board despite budget struggles and deficit borrowing.

City officials want to avoid more draconian state oversight by the new Municipal Accountability Review Board.

The Illinois county plans a $175 million new money offering later this summer.

The nation's second-most-populous county faces “difficult choices," board President Toni Preckwinkle said.

Gov. John Bel Edwards objected to a spending plan that would impose cuts of more than 24% on most state agencies.

Gov. John Bel Edwards has called lawmakers to the capitol on May 22 to deal with the budget deficit.

Chicago suburb warns of "catastrophic” impact of state withholding funds.

The state’s net position of governmental activities eroded by $10.1 billion to reach a negative $141.7 billion.

With lawmakers failing to address a $1 billion budget deficit, S&P said “uncertainty about fiscal 2019 now looms over Louisiana.”

After failing to approve new revenue in a special session, lawmakers now must pass a fiscal 2019 budget without enough revenue to fund state priorities.

The state House approved a $22.5 billion general fund budget that relies on fees and tax increases to fund priorities like pension obligations.

Gov. John Bel Edwards called a special session for Feb. 19 in attempt to end a partisan stalemate that has stymied fiscal reform efforts for two years.

The stakes are high with two of the state’s general obligation ratings one notch away from speculative grade.

Gov. John Bel Edwards released a spending plan for 2019 targeting health care and higher education to bridge much of the deficit.

Gov. John Bel Edwards said lawmakers must agree to replace $1 billion in expiring revenues by Jan. 19 or he will cut the budget.

Moody's Investors Service also cited a structural deficit.

S&P dropped Alaska to AA amid dwindling budget reserves.

WEST HAVEN, Conn. -- The City Council approved bonding ordinances for both the $17.35 million financing of the city's accumulated deficit and the $133.25 million West Haven High School reconstruction.

City Council moved forward with a plan to refinance Meadville, Pa.'s debt burden at Wednesday's meeting following a gloomy discussion of current and upcoming infrastructure needs. Council will likely vote to on the refinancing plan at its July 19 meeting.