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Headlines
Needy States Use Housing Aid Cash to Plug Budgets
Only 27 states have devoted all their funds from the banks to housing programs, according to a report by Enterprise Community Partners, a national affordable housing group. So far about 15 states have said they will use all or most of the money for other purposes.
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Headlines
Census state pension survey 2007-1010
The U.S. Census collects key data from selected state and municipal pension funds every year. State Budget Solutions consolidated the data for the 222 largest state administered defined benefit pension funds from fiscal years 2007 through 2010 to present an overview of each state's pension funds. See how your state is doing.
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Headlines
Latest studies show growing pension peril
Recent studies by the U.S. Census Bureau, GAO, Federal Reserve Bank of Cleveland and the Harvard Kennedy School detail the continued deterioration and chance of failure of public pension systems within the overall local and state government fiscal crisis. Read these studies and be aware of the extent of this pressing problem.
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Headlines
Local and state governments look for creative ways to fund transportation projects
Constrained budgets and deficit reduction efforts mean federal fewer dollars for infrastructure. As such, the burden is shifting more to state and local governments, which are being forced to find creative funding solutions.
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Research
"GASB Won't Let Me" - A False Objection to Public Pension Reform
Pension reform is a separate issue from amortization. These two issues have been conflated by those invoking the GASB proviso for closed DB plans, but this has only sown confusion. This is clearly demonstrated when the reform is structured with amortization payments on total payroll. In this way, the growth in the base for amortization payments is unaffected by the reform, so there is no policy reason for changing the schedule of these payments. The funding schedule for amortization is a red herring, irrelevant to the fundamental policy decision for pension reform. Amortization pays for past debts; pension reform lays a path toward a responsible future.
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Budget timeframe: Biennial
Fiscal Year begins: July 1
Gov. Neil Abercrombie
The Honorable Neil Abercrombie

Governor, State of Hawai`i

Executive Chambers, 
State Capitol

Honolulu, Hawai`i 96813
Phone: (808) 586-0034
Fax: (808) 586-0006
Contact form
Kalbert K. Young, Director of Finance
Department of Budget & Finance
250 South Hotel Street, Room 300
No. 1 Capitol District Building
Honolulu, HI 96813
Phone: (808) 586-1518
Fax: (808) 586-1976
www.state.hi.us/budget/
HI.BudgetandFinance@hawaii.com
2012 Legislative Calendar: Regular Session convenes January 18, adjourns late April.
Legislative Budget Leaders:
Rep. Marcus Oshiro (D), Chair, House Finance Committee repmoshiro@Capitol.hawaii.gov 808-586-6200
Rep. Marilyn Lee (D), Vice-Chair, House Finance Committee replee@Capitol.hawaii.gov 808-586-9460
Sen. David Y. Ige (D), Chair, Senate Ways and Means Committee, sendige@Capitol.hawaii.gov 808-586-6230
Sen. Michelle N. Kidani (D), Vice-Chair, Senate Ways and Means Committee, senkidani@capitol.hawaii.gov 808-586-7100
The current state budget can be found here.
Want a more robust, long-term look at your state's fiscal health, beyond the budget? There are two parts: Click here for the FY2011 Comprehensive Annual Financial Report (CAFR) compiled by the state government, and click here for information on the state's pension liabilities.
Hawaii is required to pass a "balanced budget." Article VII, Section 5 of the Constitution states no expenditures of public money shall exceed the general fund revenues, except when the governor declares an emergency. Moreover, Title 5, Section 37-74(c) of the State law requires the director of finance to reduce appropriated disbursements when collected revenues are less than allotted revenues. Section 37-92 also caps total proposed expenditures to the appropriations from the previous year plus the state growth. This is commonly referred to as "budgeting for fiscal discipline." Even with these laws in place, Hawaii reported budget deficits (negative net transactions) for the three years studied. Hawaii law forbids the carrying over of a deficit from one year to the next.
For FY2007, Hawaii maintained three governmental funds: the General fund, Capital Projects Fund, and Med-Quest Special Revenue Fund. It also maintained other governmental funds which are combined in the non-major governmental funds. Hawaii budgets for the General Fund, the Med-Quest Special Revenue fund and the non-major Special Revenue fund. [from the Institute for Truth in Accounting]
Find the state's bond ratings here.
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Pensions :
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HEADLINES
Census state pension survey 2007-1010
The U.S. Census collects key data from selected state and municipal pension funds every year. State Budget Solutions consolidated the data for the 222 largest state administered defined benefit pension funds from fiscal years 2007 through 2010 to present an overview of each state's pension funds. See how your state is doing.
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HEADLINES
Latest studies show growing pension peril
Recent studies by the U.S. Census Bureau, GAO, Federal Reserve Bank of Cleveland and the Harvard Kennedy School detail the continued deterioration and chance of failure of public pension systems within the overall local and state government fiscal crisis. Read these studies and be aware of the extent of this pressing problem.
- View All Hawaii articles
Budget Processes and Systems :
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HEADLINES: Florida, Hawaii, Washington, Arizona, Michigan
Is Reading Bills A Thing of the Past?
Federal and state lawmakers face increasingly dismal approval ratings and distrust, in part due to the unbridled spending bills passed recently. Bills passed at the state level, including budgets, are often passed so quickly that neither lawmakers nor the public can possibly know what each entails.
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HEADLINES: Illinois, New Mexico , Hawaii, Texas, Washington, California, Kentucky
Stealthy State Service Taxes
Despite the relative obscurity of "service" taxes to the populace, nearly every state taxes some services and are very crafty about finding new ones to tax.
- View All Hawaii articles
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Census state pension survey 2007-1010
The U.S. Census collects key data from selected state and municipal pension funds every year. State Budget Solutions consolidated the data for the 222 largest state administered defined benefit pension funds from fiscal years 2007 through 2010 to present an overview of each state's pension funds. See how your state is doing.
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Latest studies show growing pension peril
Recent studies by the U.S. Census Bureau, GAO, Federal Reserve Bank of Cleveland and the Harvard Kennedy School detail the continued deterioration and chance of failure of public pension systems within the overall local and state government fiscal crisis. Read these studies and be aware of the extent of this pressing problem.
-
"GASB Won't Let Me" - A False Objection to Public Pension Reform
Pension reform is a separate issue from amortization. These two issues have been conflated by those invoking the GASB proviso for closed DB plans, but this has only sown confusion. This is clearly demonstrated when the reform is structured with amortization payments on total payroll. In this way, the growth in the base for amortization payments is unaffected by the reform, so there is no policy reason for changing the schedule of these payments. The funding schedule for amortization is a red herring, irrelevant to the fundamental policy decision for pension reform. Amortization pays for past debts; pension reform lays a path toward a responsible future.
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OPINION
Public pension 'best practices' omit 1 thing: How do we pay benefits?
Hey, young public employees, what are you going to do when your pension checks bounce after you paid in for decades? That is what will happen in many - maybe all - states and municipalities sooner or later if they do not reform right now. If you want to see the future, just look at Illinois. One citizen there did, and came up with a real reform plan that might work.
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OPINION
COMMENTARY Municipal, state workers should take their pension money and run, fast
Public employees should take their pension money now and run to avoid risk of getting reduced benefits - or nothing - in the future. It's the best deal for them and for taxpayers. A growing chorus of credible voices including the Government Accountability Office, a Federal Reserve bank and now the Harvard Kennedy School Mossavar-Rahmani Center for Business and Government confirm state and local government finances are "spiraling out of control" and even draconian reforms only make it "more likely" that future benefits will paid in full.
- View All Pensions
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OPINION: Pensions
Public pension 'best practices' omit 1 thing: How do we pay benefits?
Hey, young public employees, what are you going to do when your pension checks bounce after you paid in for decades? That is what will happen in many - maybe all - states and municipalities sooner or later if they do not reform right now. If you want to see the future, just look at Illinois. One citizen there did, and came up with a real reform plan that might work.
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OPINION: Pensions
COMMENTARY Municipal, state workers should take their pension money and run, fast
Public employees should take their pension money now and run to avoid risk of getting reduced benefits - or nothing - in the future. It's the best deal for them and for taxpayers. A growing chorus of credible voices including the Government Accountability Office, a Federal Reserve bank and now the Harvard Kennedy School Mossavar-Rahmani Center for Business and Government confirm state and local government finances are "spiraling out of control" and even draconian reforms only make it "more likely" that future benefits will paid in full.
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BLOG: Pensions
COMMENTARY: This plan could save municipal, state workers' pension checks
Hey, young public employees, what are you going to do when your pension checks bounce after you paid in for decades? That is what will happen in many - maybe all - states and municipalities sooner or later if they do not reform right now. If you want to see the future, just look at Illinois. One citizen there did, and came up with a real reform plan that might work.
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BLOG: Pensions, Federal Government Impact
COMMENTARY: Fed screams softly in warning about public pension crisis
This is what it sounds like when the Federal Reserve Bank screams: "Much has been written about the various headwinds restraining economic activity over the near term. However, our economy also has other headwinds to confront over the medium- to-longer-term. ... the finances of some state and local governments are also under stress and in need of serious adjustments." - Federal Reserve Bank of Cleveland President Sandra Pianalto
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BLOG
West Coast States Making Progress
State legislatures are still working out the logistics to make the July 1 budget deadline. The states on the West Coast are working on getting their finances in some semblance of order, while those on the East Coast are still struggling to balance their budgets for the upcoming fiscal year.
