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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: October 1
Gov. Rick Perry
Office of Governor Rick Perry
P.O. Box 12428
Austin, TX 78711
Phone: (512) 463-2000
Fax: (512) 463-5571
http://www.governor.state.tx.us/
Governor's Office, Office of Budget and Planning
P.O. Box 12428
Austin, TX 78711
Phone (512) 463-1778
Fax (512) 463-1880
http://governor.state.tx.us/bpp/
2012 Legislative Calendar: Texas has no regular session in 2012.
Legislative Budget Leaders:
Rep. Jim Pitts (R), Chair, House Appropriations Committee, 972-938-9392
Rep. Sylvester Turner (D), Vice-Chair, House Appropriations Committee, 713-683-6363
Rep. Harvey Hilderbran (R), Chair, House Committee on Ways & Means, 830-257-2333
Rep. John Otto (R), Vice-Chair, House Committee on Ways & Means, 936-258-8135
Sen. Steve Ogden (R), Chair, Senate Finance Committee, 979-776-0521
Sen. Juan Hinojosa (D), Vice-Chair, Senate Finance Committee, 361-225-1200
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.
Texas is required to pass a "balanced budget." Article II, Section 49 of the 1876 Texas Constitution invalidates an appropriations bill which exceeds the money available in the fund. Article VIII, Section 22(c) states that in "no case shall appropriations exceed revenues." Additionally, the state comptroller is required to provide a report in advance of each regular session detailing the state of the treasury at the close of the last fiscal period, and an itemized list of revenue based on the laws then in effect. Texas law allows the carrying over of a deficit from one year to the next.
Texas caps the rate of appropriations growth. The current state constitution uses the growth of the state's economy, which is determined by the Legislative Budget Board (run by the Gov, Lt Gov, Speaker and Comptroller).
The general fund, highway fund and permanent school fund are reported as major governmental funds. The general fund and highway fund are budgeted. The CAFR does not make it clear how many of the non-major governmental funds are budgeted. Based on the significant difference between actual and budgeted figures from the State's data sheet, it is most likely that the State budgets only a few of their governmental funds. Budgetary information within the Budgetary Comparison Schedules is also not presented as efficiently as possible since there are around seven non-major funds each year with no "total" columns to accompany them.
The Texas governor has called for stricter state spending caps, the limiting of all state funds excluding property tax relief, the elimination of budget gimmicks including one-time adjustments, and measures to use funds for their originally-intended purpose. [from the Institute for Truth in Accounting]
Find the state's bond ratings here.
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Higher Education :
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HEADLINES: Georgia, Texas, California, Wisconsin
College Football Programs Impacted by State Budgets
Back to school can also mean a trip back to campus to cheer on a favorite football team. With most teams kicking off their season this Saturday, SBS's week-long series wraps up today with a look at how state budget impact state university football programs.
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HEADLINES: Texas
How will Rick Perry's budget affect education?
The budget that Perry presided over reduces education spending across the board, from pre-K through higher education.
- View All Texas articles
State Debt :
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HEADLINES: New York, California, Texas
States Continue to Use Dishonest Budget Tactics Making Shortfalls A Mystery
Many state legislatures have reconvened for the new legislative season to examine upcoming fiscal year budgets, and inevitably, budget shortfalls. Determining the size of those budget gaps, however, is especially difficult; the accounting maneuvers and budget gimmicks that states traditionally use to "balance" their budgets often serve as temporary façades of fiscal health.
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HEADLINES: California, Connecticut, Texas
Budget Gaps To Exceed Revenues In Over Half Of U.S. States By July
More than half the U.S. states will not have enough revenues to cover spending demands in the fiscal year starting in July.
- View All Texas articles
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Solutions: Texas
The Texas Taxpayer Savings Grant Program
The Texas Taxpayer Savings Grant Program is designed to reduce the amount of general revenue spent on public education by reducing enrollment in and the associated costs of the state’s public K-12 schools. The program works by reimbursing parents and legal guardians for “the amount of actual tuition costs or 60 percent of the state average per- pupil spending maintenance and operations expenditures, whichever is less,” should they choose to enroll their child in a private school, rather than a Texas public school.
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Solutions: Texas
School Choice in Texas: Where We Are, and Where We Should Be
Texas should open up virtual education in Texas and also allow greater flexibility within the public education system itself.
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Solutions: Illinois, California, Texas
Amazonian-Size Taxes
Proposals to tax Internet retail sales are all the rage as states continue to look for more ways to balance their budgets in the face of revenue shortfalls.
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Solutions: Texas
2011 Texas Budget Solutions
The Texas Public Policy Foundation provides a host of potential budget solutions for the 2011 Texas state budget. Their solutions cover a broad range of categories from education to tax policy. Take a look!
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Solutions: Texas
Texas Fiscal Future
There has been an impression created in the press and embraced by many that the LBB report suggests that adoption of the bill CSHB1 by Texas would cost Texas 272,000 jobs in 2012 and 335,000 jobs in 2013. This answer, at least as interpreted by the press, is wrong and not based on sound economics. The passage of CSHB1 will not cause less jobs in Texas relative to any other option at hand.
- View All Solutions
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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.
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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
