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Headlines : Wisconsin, Missouri
Some States Using Mortgage Deal Funds To Close Budget Gaps
Two states have already announced that they won't be using all of their share of the $25 billion allocated in Thursday's historic foreclosure settlement to pay its intended recipients -- the homeowners and borrowers who saw the housing market collapse beneath their feet.
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Headlines : Missouri
Analysis: Nixon's Budget Depends on New Revenues
Missouri Gov. Jay Nixon's $23 billion proposed budget requires no new taxes but depends on Missouri taking in tens of millions of dollars in new revenues some of which can happen only if legislators change state law. Since some of the same items have been proposed without success in years past, Nixon is taking a bit of a financial risk by basing his budget on an assumption that they will all come to fruition this year.
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Headlines : Missouri
Nixon proposes $106 million cut from Missouri higher ed
Although higher education takes a hit in the governor's proposed budget, it also proposes increasing funding for K-12 schools by $5 million. However, the total amount is still nearly $500 million less than what is called for by the state’s school funding formula.
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Headlines : Missouri
Mo. House panel endorses spending limit proposal
The proposed constitutional amendment would cap annual increases in the state budget at the rate of inflation plus the growth in population. The spending cap would apply only to the state's general revenue over which lawmakers have the most discretion.
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Headlines : Missouri
Plan to tap universities' reserve funds is out
Proposal to use schools' reserve funds finds little support in legislature.
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Gov. Jeremiah Nixon
Office of Governor Jeremiah W. (Jay) Nixon
Missouri Capitol Building
Room 216
Jefferson City, MO 65101
Phone: (573) 751-3222
Fax: (573) 526-3291
http://governor.mo.gov/
Linda Luebbering, Budget Director
Division of Budget and Planning
Room 124, State Capitol, Box 809
Jefferson City, MO 65102
Phone (573) 751-2345
Fax (573) 526-4811
www.oa.mo.gov/bp/
bpmail@oa.mo.gov
2012 Legislative Calendar: Regular Session convenes January 4, adjourns May 30.
Legislative Budget Leaders:
Rep. Ryan Silvey (R), Chair, House Budget Committee; Chair, House Fiscal Review Committee; Chair, Interim Committee on Budget Transparency, Ryan.Silvey@house.mo.gov 573-751-5282
Rep. Rick Stream (R), Vice-Chair, House Budget Committee; Vice-Chair, Interim Committee on Budget Transparency, Rick.Stream@house.mo.gov 573-751-4069
Sen. Kurt Schaefer (R), Chair, Senate Appropriations Committee, 573-751-3931
Sen. Dan Brown (R), Vice-Chair, Senate Appropriations Committee, Dan.Brown@senate.mo.gov 573-751-5713
Rep. Tom Flanigan (R), Vice-Chair, House Fiscal Review Committee, Thomas.Flanigan@house.mo.gov 573-751-5458
Rep. Doug Funderburk (R), Chair, House Tax Reform Committee, Doug.Funderburk@house.mo.gov 573-751-2176
Rep. Gary L. Cross (R), Vice-Chair, House Tax Reform Committee, Gary.Cross@house.mo.gov 573-751-1459
Rep. Andrew Koenig (R), Chair, House Ways and Means Committee, Andrew.Koenig@house.mo.gov 573-751-5568
Rep. Galen Higdon (R), Vice-Chair, House Ways and Means Committee, Galen.Higdon@house.mo.gov 573-751-3643
Sen. Chuck Purgason (R), Chair, Senate Ways and Means and Fiscal Oversight Committee, Chuck.Purgason@senate.mo.gov 573-751-1882
Sen. Will Kraus (R), Vice-Chair, Senate Ways and Means and Fiscal Oversight Committee, 573-751-1464
The current state budget can be found here.
Missouri is required to pass a "balanced budget." Article IV, Section 24 of the revised 1974 Constitution requires the governor to submit the estimated available revenues of the State and a complete plan of proposed expenditures. Section 27 allows the governor to reduce expenditures when the actual revenues are less than the revenue estimates. Missouri law forbids the carrying over of a deficit from one year to the next. Despite these requirements, Missouri's Budgetary Comparison Schedules reported deficits (negative net transactions) for two of the three years studied.
Major funds include general, public education, conservation and environmental protection, transportation and law enforcement, and the Missouri road fund. All five of the major funds are budgeted in addition to numerous non-major funds. Since actual and budgeted figures (expenditures and revenues) are relatively in sync, we assume that most funds are budgeted. Information within Budgetary Comparison Schedules is efficiently organized, containing "total" columns for the numerous non-major funds. [from the Institute for Truth in Accounting]
Find the state's bond ratings here.
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Pensions :
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SOLUTIONS: Missouri
Missouri's Public Pension Plans Need to Be Reformed to Maintain Solvency
Shifting public pensions from defined benefit plans to defined contribution plans could generate higher returns for pensioners while limiting the risk to the public when pensions do not perform well.
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SOLUTIONS: Missouri
Missouri's Public Pension Plans Need to Be Reformed to Maintain Solvency
The primary benefit to society of a greater reliance on defined contribution plans is that individuals would be more directly responsible for their own retirement funds, as opposed to relying on taxpayers for support. Public employees are as capable as the rest of the working public to provide for their retirements.
- View All Missouri articles
K-12 Education :
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HEADLINES: Missouri
Nixon proposes $106 million cut from Missouri higher ed
Although higher education takes a hit in the governor's proposed budget, it also proposes increasing funding for K-12 schools by $5 million. However, the total amount is still nearly $500 million less than what is called for by the state’s school funding formula.
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HEADLINES: Missouri
Missouri lawmakers pass $23B budget for next year
The Missouri Legislature gave final approval Thursday to a budget that cuts funding for colleges and universities and holds basic aid flat for public K-12 schools.
- View All Missouri articles
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Solutions: Missouri
Missouri's Public Pension Plans Need to Be Reformed to Maintain Solvency
Shifting public pensions from defined benefit plans to defined contribution plans could generate higher returns for pensioners while limiting the risk to the public when pensions do not perform well.
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Solutions: Missouri
Private Funding an Important Option for Missouri Highways
it is time for Missouri to consider alternative modes of financing highways and bridges as we attempt to deal with MoDOT's projected shortfall in the billions over the next 20 years.
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Solutions: Missouri
Missouri's Public Pension Plans Need to Be Reformed to Maintain Solvency
The primary benefit to society of a greater reliance on defined contribution plans is that individuals would be more directly responsible for their own retirement funds, as opposed to relying on taxpayers for support. Public employees are as capable as the rest of the working public to provide for their retirements.
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Missouri
Missouri's Public Pension Plans Need to Be Reformed to Maintain Solvency
Shifting public pensions from defined benefit plans to defined contribution plans could generate higher returns for pensioners while limiting the risk to the public when pensions do not perform well.
-
Missouri
Missouri's Public Pension Plans Need to Be Reformed to Maintain Solvency
The primary benefit to society of a greater reliance on defined contribution plans is that individuals would be more directly responsible for their own retirement funds, as opposed to relying on taxpayers for support. Public employees are as capable as the rest of the working public to provide for their retirements.
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Missouri
Missouri pension fund returns 14.3 percent on investments
A public pension fund that provides retirement, disability and survivor benefits for state employees, retirees and their families in Missouri generated a return of 14.3 percent for the fiscal year ended June 30, 2010.
