As a former state legislator, gubernatorial candidate and official with the General Accountability Office, State Budget Solutions President Bob Williams is a national expert in fiscal and tax policies. Each week, he compiles the latest news and headlines pertaining to state budgets, collective bargaining and state public pensions into The Williams Report. Bob's full biography can be found here.
State looking at deficits of more than $1.1 billion for three straight years starting in the 2016 fiscal year. Hartford Courant
Pensions for teachers fall farther behind. CalPERS added more than $4 billion to the unfunded pension liability in 2012 because they chose to underfund its so-called "catch up" payment. The Heartland Institute
State pension crisis fix is pushed back again. Lawmakers left session without reaching deal to curb $100 billion debt. Chicago Tribune
Updates this week:
State Budget Actions FY 2013 and FY 2014. NCSL’s latest fiscal report predicts the following fiscal highlights:
- State general fund revenues grew by 5.3 percent in FY 2013. FY 2014 revenue growth is projected at 1.3 percent.
- General fund expenditures increased by 4.4 percent in FY 2013. FY 2014 appropriations are budgeted to grow 1.9 percent.
- FY 2013 year-end balances rose 22.8 percent above the prior year but are expected to decline 11.7 percent by the close of FY 2014. National Conference of State Legislatures
Colorado: Colorado faces significant budget shortfall in the future. Denver Post
Connecticut: Downplaying deficit raises concerns among Governor’s base. Connecticut Mirror
Louisiana: State economist cautiously optimistic about upcoming state budget. New Orleans Times-Picayune
West Virginia: State budget freezes likely. WAJR
Updates this week:
Why the Democrat Party Cannot Embrace Public Sector Union Reform. Union Watch
CALIFORNA: Governor signs legislation to limit outsourcing. Sacramento Bee
Governor vetoes bill to protect bad teachers- momentum shifts in fight to fire bad teachers. Union Watch
MICHIGAN: Union tries to shame ex-members. Michigan Capitol Confidential