budget and local aid updates, community preservation act, financial outlook, local aid policy, priorities/requests, resources, revenue, taxes
The Patrick Administration deserves great credit for its efforts to make its budget as transparent as possible. Nonetheless, a 46 billion dollar spending program is intrinsically complex, so here are answers to a few questions that I found myself asking as I worked through the presentation. How big is the budget? The financial statement section shows proposed …
Continue reading “Understanding the Governor’s Budget Presentation”
Wall Street has applauded our state-level efforts to manage long-term liabilities — the rating agencies are giving the Commonwealth its highest ever bond ratings. But we should consider carefully whether we should accept Wall Street’s metrics for financial health — not that I doubt the need for financial discipline, but rather that we should, perhaps, …
The Community Preservation Act, signed into law in 2000, authorizes communities to create local Community Preservation Funds for the purpose of open space protection, affordable housing, outdoor recreation, and historic preservation. A community’s monies are raised through imposing a surcharge not greater than 3% of the tax levy on real property. Communities may adopt the CPA through …
State budget basics What entities comprise the Commonwealth of Massachusetts? What entities and activities does the legislature budget for annually? What are the major sources of revenue that support budgeted expenditures? What are the major objects of budgeted expenditures? How have the major categories of state spending grown over time? School Building Authority Process State …
The state’s finances are looking up as the economy picks up — that was the main message at the annual “Revenue Hearing” today. At the same time, all who spoke cautioned against over-confidence. Every December, lead budget writers for the Governor, the House and the Senate convene to hear presentations from leading experts on the …
Senator Brownsberger submitted the following written testimony to the Joint Committee on Education. TO: Joint Committee on Education FROM: Senator William N. Brownsberger RE: House Bill 457 and Senate Bill 207, An Act to revive the Foundation Budget Review Commission DATE: October 17, 2013 I am writing in favor of An Act to revive …
Continue reading “S207, An Act to revive the Foundation Budget Review Commission”
