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Headlines
Needy States Use Housing Aid Cash to Plug Budgets
Only 27 states have devoted all their funds from the banks to housing programs, according to a report by Enterprise Community Partners, a national affordable housing group. So far about 15 states have said they will use all or most of the money for other purposes.
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Headlines
Census state pension survey 2007-1010
The U.S. Census collects key data from selected state and municipal pension funds every year. State Budget Solutions consolidated the data for the 222 largest state administered defined benefit pension funds from fiscal years 2007 through 2010 to present an overview of each state's pension funds. See how your state is doing.
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Headlines
Latest studies show growing pension peril
Recent studies by the U.S. Census Bureau, GAO, Federal Reserve Bank of Cleveland and the Harvard Kennedy School detail the continued deterioration and chance of failure of public pension systems within the overall local and state government fiscal crisis. Read these studies and be aware of the extent of this pressing problem.
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Headlines
Local and state governments look for creative ways to fund transportation projects
Constrained budgets and deficit reduction efforts mean federal fewer dollars for infrastructure. As such, the burden is shifting more to state and local governments, which are being forced to find creative funding solutions.
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Research
"GASB Won't Let Me" - A False Objection to Public Pension Reform
Pension reform is a separate issue from amortization. These two issues have been conflated by those invoking the GASB proviso for closed DB plans, but this has only sown confusion. This is clearly demonstrated when the reform is structured with amortization payments on total payroll. In this way, the growth in the base for amortization payments is unaffected by the reform, so there is no policy reason for changing the schedule of these payments. The funding schedule for amortization is a red herring, irrelevant to the fundamental policy decision for pension reform. Amortization pays for past debts; pension reform lays a path toward a responsible future.
- View All News Stories
Budget timeframe: Biennial
Fiscal Year begins: July 1
Gov. Brian Schweitzer
Office of Governor Brian Schweitzer
PO Box 200801
State Capitol
Helena, MT 59620-0801
Phone: (406) 444-3111
Fax: (406) 444-5529
http://governor.mt.gov/
David Ewer, Budget Director
Office of Budget & Program Planning
P.O. Box 200802
Helena, MT 59620-0802
Fax (406) 444-4670
dewer@mt.gov
2011 Legislative Calendar: Montana has no regular session in 2012.
Legislative Budget Leaders:
Rep. Walter McNutt (R), Chair, House Appropriations Committee, walt@midrivers.com 406-488-4966
Rep. Bill Beck (R), Vice-Chair, House Appropriations Committee, rep.bbeck@centurytel.net 406-862-2022
Rep. Cynthia Hiner (D), Vice-Chair, House Appropriations Committee, matthiner@hotmail.com 406-846-0037
Rep. Mark Blasdel (R), Chair, House Taxation Committee, mblasdel@bresnan.net 406-261-3269
Rep. Mike Miller (R), Vice-Chair, House Taxation Committee, mike4hd84@blackfoot.net 406-793-5860
Rep. Dick Barrett (D), Vice-Chair, House Taxation Committee, rnewbar@gmail.com 406-396-3256
Sen. Bruce Tutvedt (R), Chair, Senate Taxation Committee, brucetutvedt@brucetutvedt.com 406-253-9732
Sen. Bob Lake (R), Vice-Chair, Senate Taxation Committee, lakemill@montana.com 406-363-4091
Sen. Kim Gillan (D), Vice-Chair, Senate Taxation Committee, glonky@aol.com 406-697-7109
Rep. Tom Berry (R), Chair, Economic Affairs Interim Committee, tom@tomberrymt.com 406-698-3940
Sen. Tom Facey (D), Vice-Chair, Economic Affairs Interim Committee, facey_tom@hotmail.com 406-728-6814
The current state budget can be found here.
Want a more robust, long-term look at your state's fiscal health, beyond the budget? There are two parts: Click here for the FY2011 Comprehensive Annual Financial Report (CAFR) compiled by the state government, and click here for information on the state's pension liabilities.
Montana is required to pass a "balanced budget." Article VIII, Section 9 of the 1972 Constitution states that appropriations by the legislature shall not exceed anticipated revenue. Montana law forbids the carrying over of a deficit from one year to the next. The governor of Montana is required by statute to reduce spending if a deficit begins to develop. Even with this law, Montana report budget deficits (negative net transactions) on its Budgetary Comparison Schedules for all of the years reviewed.
Budgetary data is easy to locate and is presented in a consistent manner for the past three years. The State has five governmental funds that are considered major funds for presentation purposes and they are: the General Fund, the State Special Revenue Fund, the Federal Special Revenue Fund, the Coal Severance Tax Fund, and the Land Grant Fund. Three out of these five major funds are budgeted, the General Fund, the State Special Revenue Fund and the Federal Special Revenue Fund. Therefore, most but not all funds are budgeted. All the information needed for analysis is presented in an efficient manner within the Budgetary Comparison Schedules. [from the Institute for Truth in Accounting]
Find the state's bond ratings here.
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K-12 Education :
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HEADLINES: Montana
Montana Legislature's focus turns to state budget
Gov. Brian Schweitzer and his fellow Democrats are vowing a tenacious battle to preserve his proposed budget - and undo preliminary cuts imposed by the Legislature's Republican majority.
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HEADLINES: Montana
Schweitzer proposes business, property tax cuts in $3.7B budget
Gov. Brian Schweitzer proposed a two-year, $3.7 billion general fund state budget that would boost school and university funding, while cutting property taxes for homeowners and eliminating business equipment taxes for all but the largest companies.
- View All Montana articles
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OPINION
Taxpayers get crushed when pensions and bonds collide
This all boils down to who gets to pick taxpayers' pockets first, public pensioners or municipal bond investors? More people are waking up to the hard reality that when it comes to state and local government, somebody has to lose money over the next few decades. The National Association of Bond Lawyers is worried enough about it to issue "Considerations" for advising clients who think they're getting safe investments.
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BLOG
COMMENTARY: Municipal, state pension reform message gaining momentum
Despite an organized campaign to stop public pension reform, reality is beginning to break through. One recent report outlines a possible path to long-term solutions and another details the necessity of states and municipalities finding their own way because federal bailout is impossible. And Chicago Mayor Rahm Emanuel released a plan that could have been based on both reports.
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Census state pension survey 2007-1010
The U.S. Census collects key data from selected state and municipal pension funds every year. State Budget Solutions consolidated the data for the 222 largest state administered defined benefit pension funds from fiscal years 2007 through 2010 to present an overview of each state's pension funds. See how your state is doing.
-
Latest studies show growing pension peril
Recent studies by the U.S. Census Bureau, GAO, Federal Reserve Bank of Cleveland and the Harvard Kennedy School detail the continued deterioration and chance of failure of public pension systems within the overall local and state government fiscal crisis. Read these studies and be aware of the extent of this pressing problem.
-
"GASB Won't Let Me" - A False Objection to Public Pension Reform
Pension reform is a separate issue from amortization. These two issues have been conflated by those invoking the GASB proviso for closed DB plans, but this has only sown confusion. This is clearly demonstrated when the reform is structured with amortization payments on total payroll. In this way, the growth in the base for amortization payments is unaffected by the reform, so there is no policy reason for changing the schedule of these payments. The funding schedule for amortization is a red herring, irrelevant to the fundamental policy decision for pension reform. Amortization pays for past debts; pension reform lays a path toward a responsible future.
- View All Pensions
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OPINION: Pensions
Taxpayers get crushed when pensions and bonds collide
This all boils down to who gets to pick taxpayers' pockets first, public pensioners or municipal bond investors? More people are waking up to the hard reality that when it comes to state and local government, somebody has to lose money over the next few decades. The National Association of Bond Lawyers is worried enough about it to issue "Considerations" for advising clients who think they're getting safe investments.
-
BLOG: Pensions
COMMENTARY: Municipal, state pension reform message gaining momentum
Despite an organized campaign to stop public pension reform, reality is beginning to break through. One recent report outlines a possible path to long-term solutions and another details the necessity of states and municipalities finding their own way because federal bailout is impossible. And Chicago Mayor Rahm Emanuel released a plan that could have been based on both reports.
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OPINION: Pensions
Public pension 'best practices' omit 1 thing: How do we pay benefits?
Hey, young public employees, what are you going to do when your pension checks bounce after you paid in for decades? That is what will happen in many - maybe all - states and municipalities sooner or later if they do not reform right now. If you want to see the future, just look at Illinois. One citizen there did, and came up with a real reform plan that might work.
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OPINION: Pensions
COMMENTARY Municipal, state workers should take their pension money and run, fast
Public employees should take their pension money now and run to avoid risk of getting reduced benefits - or nothing - in the future. It's the best deal for them and for taxpayers. A growing chorus of credible voices including the Government Accountability Office, a Federal Reserve bank and now the Harvard Kennedy School Mossavar-Rahmani Center for Business and Government confirm state and local government finances are "spiraling out of control" and even draconian reforms only make it "more likely" that future benefits will paid in full.
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BLOG: Pensions
COMMENTARY: This plan could save municipal, state workers' pension checks
Hey, young public employees, what are you going to do when your pension checks bounce after you paid in for decades? That is what will happen in many - maybe all - states and municipalities sooner or later if they do not reform right now. If you want to see the future, just look at Illinois. One citizen there did, and came up with a real reform plan that might work.
- View All Blog & Opinions
