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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. John Lynch
Office of Governor John Lynch
107 North Main Street
Room 208
Concord, NH 03301
Phone: (603) 271-2121
Fax: (603) 271-7680
http://www.governor.nh.gov/
Linda Hodgdon, Commissioner
Department of Administrative Services
State House Annex, Room 120
Concord, NH 03301
Phone (603) 271-3204
Fax: (603) 271-6600
http://admin.state.nh.us/budget/
2012 Legislative Calendar: Regular Session convenes January 4, adjourns July 1.
Rep. Kenneth Weyler (R), Chair, House Finance Committee, kenneth.weyler@leg.state.nh.us (603) 642-3518
Rep. Lynne Ober (R), Vice-Chair, House Finance Committee, russ_and_lynne.ober@comcast.net (603) 883-9654
Sen. Chuck Morse (R), Chair, Senate Finance Committee, chuck.morse@leg.state.nh.us (603) 271-4980
Sen. Bob Odell (R), Vice-Chair, Senate Finance Committee; Chair, Senate Ways and Means Committee, bob.odell@leg.state.nh.us (603) 271-4063
Rep. Stephen Stepanek (R), Chair, House Ways and Means Committee, sbs2093@gmail.com (603) 673-7658
Rep. Norman Major (R), Vice-Chair, House Ways and Means Committee, norman.major@leg.state.nh.us (603) 382-5429
Sen. David Boutin (R), Chair, Senate Capital Budget Committee, dboutin1465@comcast.net (603) 271-3092
Sen. Andy Sanborn (R), Vice-Chair, Senate Capital Budget Committee, andy.sanborn@leg.state.nh.us (603) 271-3067
Sen. Jim Luther (R), Vice-Chair, Senate Ways and Means Committee, jim.luther@leg.state.nh.us (603) 271-4151
Legislative Budget Leaders:
Current state budget bills can be found here and 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.
New Hampshire is required to pass a "balanced budget." Section 9:3 of the State law requires the governor to provide estimated revenue for all recommended appropriations. New Hampshire law forbids the carrying over of a deficit from one year to the next.
A review of the State's Budgetary Comparison Schedules within its annual reports reveals budget deficits (negative net transactions) for the last three years.
The State maintains three individual major funds, the General, Highway, and Education Trust Funds, and a certain number of non-major governmental funds. All three major funds are budgeted in addition to one individual non-major fund. [from the Institute for Truth in Accounting]
Find the state's bond ratings here.
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K-12 Education :
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HEADLINES: New Hampshire
NH negotiators agree on $10B budget
New Hampshire House and Senate negotiators agreed Thursday on a $10.3 billion budget for the two years beginning July 1 that includes a last minute deal to drop the cigarette tax a dime.
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HEADLINES: New Hampshire
NH gov: Budget proposes restructuring government
New Hampshire Gov. John Lynch proposed cutting spending across government on Tuesday, from eliminating more than 200 state jobs, to closing a small agency and ending a subsidy for driver's education.
- View All New Hampshire articles
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Solutions: Georgia, Idaho, New Hampshire , Florida
Zero-Base Budgeting in the States
Aero-base budgeting appeals to a serious and widespread desire to look at public budgeting in a fresh new way, free of old assumptions, not letting past experiences control the future. The zero-base budgeting bill in 2011 show, in various ways, a greater desire for information on how state agencies operate and how their work can be evaluated, and reflect lawmakers’ concerns that their budget enactments be well-informed.
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Solutions: New Hampshire
On Highways, The One Good Idea in Washington
Highway spending in New Hampshire is not funded by general taxation. Our highway spending is supported entirely by user fees like the gas tax and turnpike tolls. So, if we're developing a real plan, let's start by figuring out how much money those fees will raise over the next ten years.
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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.
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"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: Pensions
Weekly Pension Update
Bob Williams' review of developments in pension legislation and law suits from around the country.
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