Are we on the right track financially?

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, …

Belmont to See Increase in Round One of Community Preservation Trust Fund Distribution by DOR

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 …

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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 …

Budget Outlook Positive for 2014-5

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 …

S207, An Act to revive the Foundation Budget Review Commission

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 …

The Software Tax has been Repealed

As previously promised, both branches have now voted to repeal the software tax. It will shortly be laid upon the Governor’s desk and signed. The repeal is fully retroactive: If people have collected it from customers, they should return it. If they have remitted payments to the Department of Revenue, they can apply for the …