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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. Dave Heineman
Office of Governor Dave Heineman
P.O. Box 94848
Lincoln, NE 68509-4848
Phone: (402) 471-2244
Fax: (402) 471-6031
http://www.governor.nebraska.gov/
Gerry Oligmueller, Director
Budget Division - Department of Administrative Services
State Capitol, Room 1320
Lincoln, NE 68509
Phone (402) 471-2526
Fax (402) 471-4157
www.budget.state.ne.us
Gerry.Oligmueller@nebraska.gov
2012 Legislative Calendar: Regular Session convenes January 4, adjourns mid April.
Legislative Budget Leaders:
Sen. Lavon Heidemann, Chair, Senate Appropriations Committee, lheidemann@leg.ne.gov (402) 471-2733
Sen. Abbie Cornett, Chair, Senate Revenue Committee, acornett@leg.ne.gov (402) 471-2615
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.
Nebraska's "balanced budget" requirement comes in the form of a limit the issuance of debt. Article 13, Section 1 of the 1875 Constitution says the State may not contract debts greater than $100,000. Nebraska law forbids the carrying over of a deficit from one year to the next. In spite of this law, budget deficits (negative net transactions) were reported on the State's Budgetary Comparison Schedules within the last three years' annual reports.
The State of Nebraska's governmental funds include five major funds: the General Fund, the Highway Fund, the Federal Fund, the Health and Social Services Fund and the Permanent School Fund. Non-major special revenue, capital project and other permanent funds are also included in the governmental funds. [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 Nebraska articles
K-12 Education :
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SOLUTIONS: Nebraska
Pro-Growth Strategy for Nebraska
This report focuses on limiting the regulatory burden in the state and other types of recommendations to improve growth.
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HEADLINES: Nebraska
Stimulus funds may not require action
Gov. Dave Heineman said that his reading of a new stimulus proposal is that Nebraska will get the stimulus funds whether he applies for them or not. Given his prior criticism of the federal stimulus program in recent months, that may allow him sidestep a particularly sticky political decision — whether to apply for a new round of stimulus funds.
- View All Nebraska articles
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Solutions: Nebraska
Pro-Growth Strategy for Nebraska
This report focuses on limiting the regulatory burden in the state and other types of recommendations to improve growth.
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Solutions: Nebraska
Controlling Costs and Protecting Public Safety in The Cornhusker State
There are many solutions consistent with the principles of limited government, fiscal responsibility, and public safety that have proven successful in empirical research and in practice on a limited basis, iincluding geriatric parole, expanding problem-solving courts, and creating clear criteria so that existing community-based residential corrections beds are used for diverting appropriate offenders from prison rather than as an add-on for offenders who can be safely supervised on basic probation. Also, spreading the use of evidence-based practices, such as graduated sanctions in probation, can increase compliance and thereby reduce probation revocations. This paper includes a list of such recommendations to further improve corrections in Nebraska, address the state’s estimated $968 million budget shortfall, and ensure that public safety is not compromised.
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Solutions: Nebraska
Medicaid The Need for Medicaid Reform Grows Larger After Obamacare
Replacing the current federal financing structure of Medicaid with fixed allotments to the states would help save both state and federal budgets. Without this policy change, states will dig further budgetary holes and the federal government will face an increased likelihood of a debt crisis. If states received a non-fungible Medicaid block grant from the federal government rather than fungible matching funds, each state would have the incentive to reign in Medicaid spending. If states were freed from the myriad federal mandates (such as the “maintenance of effort” clause of the Patient Protection and Affordable Care Act) they would gain the ability to run Medicaid efficiently.
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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
The Love Affair Between Government & Business
On February 14th, we celebrate love, family, and our partners. When it comes to celebrating partners, state governments have a number of Valentines. Because state governments continue to award the sweetest deals to their sweethearts, big business, they are never alone in love on Valentine's Day.
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