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VERMONT

Vermont

  • In The News
  • Background
  • Issues
  • Solutions
  • Pensions
  • Commentary
    • Headlines

      Pace of pension reform ebbs after 49 states change laws

      Hazel Bradford | by Pensions & Investments | April 15, 2014

      While the sense of urgency has diminished, reform attempts have become a legislative staple, as public retirement systems continue to grapple with unfunded liabilities and political pressure to change.

    • Headlines

      State government dependence on federal funding growing at alarming rate

      The Washington Examiner | by David Freddoso | April 15, 2014

      This trend of increased state dependency on Washington reduces state and local control, while threatening the states' long-run autonomy.

    • Headlines

      Rich States, Poor States

      ALEC | by Arthur B. Laffer, Stephen Moore and Jonathan Williams | April 15, 2014

      Using years of economic data and empirical evidence from each state, the authors identify which policies can lead a state to economic prosperity. Rich States, Poor States not only identifies these policies but also makes sound research-based conclusions about which states are poised to achieve greater economic prosperity and those that are stuck on the path to a lackluster economy.

    • Headlines

      Rebounding economy fills state coffers with record tax revenues

      Washington Post - GovBeat | by Reid Wilson | April 10, 2014

      State governments collected more than $846 billion in tax revenue in the last fiscal year, the highest amount ever reported, as a rebounding economy boosted coffers hit hard by the recession.

    • Headlines

      Pew's latest pension report understates unfunded liabilities, but still shows growing pension problem

      by Cory Eucalitto | April 4, 2014

      While Pew's report relies directly on state-reported numbers that understate the size of unfunded liabilities, it nonetheless shows tremendous growth in unfunded liabilities since 2008.

    • Budget timeline: Annual  

      Fiscal Year starts: July 1

      The current state budget can be found here.

      Find the legislative session calendar here.

      Find the current legislative leaders here.


      VT Gov ShumlinGov. Peter Shumlin
      109 State Street
      Montpelier, VT 05609
      Phone: (802) 828-3333
      Fax: (802) 828-3339
      http://governor.vermont.gov/

       

       

       

       

      James Reardon, Commissioner
      Department of Finance & Management
      Pavilion Office Building, 109 State Street
      Montpelier, VT 05609-0401
      Phone (802) 828-2376
      http://finance.vermont.gov/
      jim.reardon@state.vt.us

       

      Want a more robust, long-term look at your state's fiscal health, beyond the budget? There are two parts: Click here for the FY2012 Comprehensive Annual Financial Report (CAFR) compiled by the state government, and click here for information on the state's pension liabilities

       

      No "balanced budget" requirement was found for the state of Vermont. However, Chapter 5, Section 308 of the State law creates a "budget stabilization trust fund" to offset any fund deficits for that fiscal year. Vermont law permits the carrying over of a deficit from one year to the next.

       

      The State reports eighteen governmental funds of which six are classified as "major" governmental funds. These major funds are the General Fund, Transportation Fund, Education Fund, Special Fund, Federal Revenue Fund and Global Commitment Fund. The State began reporting the Global Commitment Fund in FY06. Prior to this, it only reported seventeen governmental funds. Each year, Vermont budgets all of its major governmental funds which is evident from the minor difference between actual and budgeted figures (revenues and expenditures).  [from the Institute for Truth in Accounting]

       

      Find the state's bond ratings here.

       

       

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      Ethan Allen Institute


    • Solutions

      How Reality-Based Budgeting Can Permanently Resolve State Budget Gaps

      State Budget Solutions | by Bob Williams | November 7, 2012

      State Budget Solutions recommends that state legislators take action in 2013 to resolve the serious state financial crises by changing their focus from inputs to outcomes by redesigning budgets from the ground up based on priorities and performance.

    • Solutions

      How to Prevent Future Pension Crises

      by Cory Eucalitto | November 1, 2012

      The time for state and local governments to offer defined contribution retirement plans that protect both taxpayer dollars and public employee retirement security is now.

    • Solutions

      State Lawmakerís Guide to Evaluating Medicaid Expansion Projections

      The Heritage Foundation | by Edmund F. Haislmaier and Drew Gonshorowski | October 17, 2012

      Supporters of Obamacare claim that expanding Medicaid will entail little to no cost to state governments, since the federal government will fund the vast majority of the additional costs. Indeed, some analyses project states achieving savings from adopting the expansion. However, state lawmakers should be wary of accepting such analyses at face value.

    • Solutions

      Medicaid Is BrokenóLet the States Fix It

      The Wall Street Journal | by Paul Howard and Russell Sykes | October 15, 2012

      Block-granting Medicaid is the best way to deliver better, cost-effective care to the most vulnerable Americans.

    • Solutions

      The Case for Reform: Prisons

      Right on Crime | August 1, 2012

      Prisons are supremely important, but they are also a supremely expensive government program, and thus prison systems must be held to the highest standards of accountability.