We passed our budget today. It is notable for many things, including a heavy emphasis on local aid.
Budget
budget and local aid updates, community preservation act, financial outlook, local aid policy, priorities/requests, resources, revenue, taxes
Long Term Fiscal Policy Framework
The Patrick administration, in collaboration with the legislature, has been doing a good job focusing on long-term financial issues. Click here for the state’s long-term financial model. In a nutshell, the model says that if we can get health costs under control and the economy continues to recover, we will be able to sustain our …
Senate Ways and Means Releases Budget
The Senate Ways and Means budget is out. Get the SWM press release and links to budget details here.
Transportation Bond Bill Passes Senate with Funding for Localities
On Thursday, the Senate passed legislation to provide funding to continue current transportation-related projects through Fiscal Year 2013. The Chapter 90 funds appropriated by this bill for local projects, including roadway and bridge repairs, will support the infrastructure of the Commonwealth’s cities and towns. This appropriation of $200 million (equivalent to last year’s appropriation) represents …
Continue reading “Transportation Bond Bill Passes Senate with Funding for Localities”
Economic Assumptions in the FY13 Budget
The consensus revenue estimate underlying the budget appears slightly optimistic and is more uncertain than in some years.
Basing Aid on the 2006 Reform
The 2006 education aid reform was designed to allocate aid based on a better model of community ability to pay. It was intended that the new model would be phased in over 5 years. Since 2009 (Fiscal 2010), as a response to the financial crunch, we have made formula modifications that have tended to preserve …