Blog posts tagged with "State Budget"

A More Flexible Pension Plan

Jan 26, 2012

Part of Governor Andrew Cuomo’s “Tier VI” proposal to make pension benefits for public employees of New York’s State and local government more affordable and sustainable over the long term is an optional 401(k)-style plan.

NY Retirement Systems: Still Out of Line

Jan 26, 2012

Today, the U.S. Census Bureau released new figures on public retirement systems.[1] A quick look at the data underscores why New York’s pension system is costly, how it is out of line with others and why reform is needed.

Improving the Way New York Pays for Medicaid

Jan 25, 2012

Governor Andrew Cuomo’s budget proposals for fiscal year 2012-13 include an important first step towards fixing a longstanding flaw in the way New York pays for its Medicaid program.

Jump Starting Performance Management in New York State Government (Again)

Jan 10, 2012

Last month, the Spending and Government Efficiency Commission (SAGE Commission) appointed by Governor Cuomo issued its final report. One notable recommendation is that a renewed effort be made to improve the accountability of State government through the creation of a performance management system.

Balancing the State Budget – Halfway There, But Running Out of Gas?

Dec 20, 2011

This month’s overhaul of New York’s tax code was an important step in closing the estimated $3.2 billion gap in New York State’s fiscal year 2012-13 budget.

The Tax Hike’s Silver Lining

Dec 08, 2011

Deals that come together quickly in Albany should always be viewed with some skepticism, but the one announced on Tuesday has a silver lining.

How Much Did New York’s 2010 Early Retirement Incentive Save?

Oct 26, 2011

In June 2010 the New York State budget was two months past due; Governor David Paterson’s calls for state employee furloughs and salary freezes had been rebuffed by labor union leaders; and a no-layoff pledge for state workers, agreed to in exchange for pension reforms for new hires, was in effect through the end of the calendar year.

Stop the Wishful Thinking about a New York State Mid-Year “Surplus”

Aug 23, 2011

In July the New York State Comptroller reported that tax collections for the first quarter of the fiscal year (April through June) came in $799 million higher than original projections and that disbursements came in $1.2 billion below projections.[1] A more recent update covering July reported that receipts came in $351 million short for that mon

State Budget

Another Promising Sign

Jul 13, 2011

The Citizen Budget Commission congratulates Governor Andrew Cuomo on his veto of A6309/S4067, the bill that proposed allowing school districts to borrow over $1 billion for pension costs.

A Closer Look at School Aid Cuts

Apr 01, 2011

Today is April 1 and the State has a budget in place to begin the fiscal year, a relatively rare occurrence and a good one. Governor Cuomo and the legislative leaders deserve credit for crafting a budget that is not only on time but fiscally responsible as well.