Finance
Managing public finance has become a demanding aspect of state and local government, especially as economic health fluctuates and outside forces create revenue instability. Articles on taxes, budgets, pensions and bonds help to bring insight to finance management at the state and local level.
The state’s Industrial Commission, made up of the governor, attorney general and agricultural commissioner, has approved a project to expand education about carbon dioxide capture and storage, which includes a newly debuted website.
As they expanded eligibility under the Affordable Care Act, some skirted the law by misclassifying new enrollees to maximize revenue from Washington while doing little to help those who need care. It will take federal legislation to end this behavior.
The new rules will ban utilities from billing ratepayers for contributions or gifts to political candidates, political parties and political or legislative committees, or to a trade association, chamber of commerce or public charity and more.
Fines and fees are common throughout the criminal justice system, but they can strain the finances of families already experiencing instability and widen income and racial disparities.
California is one of seven states that fund schools based on average daily attendance instead of how many students are registered for the year. But that could change if proposed legislation gets Gov. Newsom’s signature.
The cuts from the roughly $20 billion, six-year transit plan would defer some maintenance projects, delay the transition to fully electric state-run buses and pause the development of other initiatives.
Total credit card balances have risen 5.8 percent from a year ago as Americans struggle to keep up with high living costs.
In 2020 and 2022, annual spending on the issue didn’t exceed $7 million and between 2013 and 2017, Philly spent an average of $9 million annually to settle police misconduct cases. But misconduct spending has since skyrocketed.
Revenue growth over three years outpaced earlier trends and fueled new spending, but has since pulled back. What does it mean for the future of state budgets?
Mayor Brandon Johnson has warned of “sacrifices that will be made” to account for the multimillion-dollar spending gap. City officials have cited declining state revenues and rising pension and personnel costs as the cause.
The state Department of Health Care Policy and Financing underestimated how sick its members would be. Medicaid covers about 1.26 million people in Colorado.
Pandemic money from Washington stimulated the economy but arguably ended up feeding inflation. Before the next downturn, governors, mayors and public financers need to be part of the conversation about how to open the countercyclical aid spigot quicker — and when to shut it off.
The state has expanded its school vouchers to cover nearly every student with at least a partial scholarship, increasing Ohio’s spending on private school funds to nearly $1 billion.
California officials have warned students for years that for-profit schools may make misleading career claims, leaving them with “a mountain of debt” but no job. Still, many for-profit schools remain on the state’s list of recommended job training programs.
The record-breaking 2023-24 investment in small diverse businesses and veteran businesses increased by $129 million from the year prior.
Gov. Ron DeSantis has put pressure onto the University of Florida’s Board of Governors to investigate President Ben Sasse’s spending of $17.3 million during his first year in office, a $5.6 million increase from the year prior.
The state’s ballot measures are just two of nearly a dozen from across the nation that aim to reduce taxes for some or all property owners. One Colorado initiative would cap annual state property tax revenue growth at 4 percent.
Voters would have to approve a $4.4 billion bond package in November, to be financed by property tax increases over 33 years. Including interest, the package would cost $11 billion.
States can compensate with vehicle and odometer taxes, but local governments can harness new data technologies — including GPS, 5G and AI — to meet the need for more than states’ hand-me-down dollars.
They don't do much to generate economic activity, often hurt taxpayers they’re intended to help, inject instability into revenue streams, and create administrative and compliance costs for businesses, governments and consumers.
In the typical state, personnel costs represent 40 percent less of the overall budget than was true 30 years ago.
Federal aid helped states and localities cope with the biggest costs of the pandemic. But good things don’t last forever, and this one didn’t.
Attorney General Ken Paxton sued the Facebook parent company in 2022, claiming it had used personal biometric data without permission.
Gov. Roy Cooper’s plan to leverage Medicaid funds and help relieve up to $4 billion in debt for people across the state won approval on Friday. For the order to take effect, hospitals need to sign on.
State and local treasurers have been playing it safe by capturing high short-term rates. Some are wary of longer maturities, but markets spell lower short-term yields. Tricky decisions are in store.
The Chicago mayor has raised $2.6 million since his election in April 2023. Nearly half of those funds come from unions. Another large check was from Grammy-winning rapper Lil Durk.
Companies sometimes set “personalized” prices online based on a customer’s ability or willingness to pay, using algorithms and artificial intelligence to sort through data. The FTC is investigating how widespread it is.
The company behind ChatGPT funded a three-year research program on the impacts of universal basic income. It found that the extra income allowed participants to be more selective about career choices and have more time for leisure.
Budgeting sets the course for what government will and will not do. An initiative from the Government Finance Officers Association is designed to help long-term planning and foster public trust in a “new normal” of uncertainty.
Audits in a number of states have found that tax incentive programs for film and TV end up as money losers. Although some states are considering capping their programs, more are expanding theirs.
The state now has signs that welcome visitors to “The Free State of Florida” at 24 locations along highways and two welcome centers. The slogan has been used in Gov. Ron DeSantis’ campaign since at least 2022.
