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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 "Jack" Dalrymple
Office of Governor John Hoeven
State Capitol
600 East Boulevard Avenue, Department 101
Bismarck, ND 58505-0001
Phone: (701) 328-2200
Fax: (701) 328-2205
http://governor.nd.gov/
Gov. Dalrymple's State of the State Address delivered on Jan. 4, 2011 can be found here.
Pam Sharp, Director
Office of Management and Budget
600 E. Blvd. Ave., Dept. 110
Bismarck, North Dakota 58505-0400
Phone (701) 328-4904
Fax (701) 328-3230
http://www.state.nd.us/omb
omb@nd.gov
2012 Legislative Calendar: North Dakota has no regular session in 2012.
Legislative Budget Leaders:
Rep. Dennis Johnson (R), Chair, House Finance and Taxation Committee, djohnson@nd.gov 701-662-4998
Sen. Ray Holmberg (R), Chair, Senate Budget Committee, rholmberg@nd.gov 701-775-9656
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 compiled by the state government, and click here for information on the state's pension liabilities.
North Dakota is required to pass a "balanced budget." Article X, Section 13 of the Constitution as amended in 1973 restricts any indebtedness that is "not evidenced by a bond issue." North Dakota law forbids the carrying over of a deficit from one year to the next.
The State has several governmental funds, of which three are considered major individual funds. Those three are the General Fund, the Federal Fund, and the School Permanent Trust Fund. The State budgets on a budgetary basis that differs from those used to present the financial statements in accordance with GAAP. The only major fund with a legally adopted budget is the General Fund. All other funds are budgeted together as "Other Budgeted Funds." [from the Institute for Truth in Accounting]
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Budget Processes and Systems :
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HEADLINES: Florida, Tennessee, North Dakota
Examining Constitutional Transparency
In the increasingly harried approach towards legislating, where compromise and decision-making is done last minute and behind closed doors, it is no wonder that Americans speculate whether legislation is actually read. State legislators are guilty of failing to read legislation, in whole or in part, and of pushing bills through the legislative process so quickly that even the most well-intentioned legislators do not get the opportunity to read bills before a vote is required.
Higher Education :
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SOLUTIONS: North Dakota
Moving Forward
A guide to needed reforms in pensions, taxes and higher education, among other areas, with two types of goals that are important when working towards limiting government: long-term policy objectives that show the end-game goals and short-term policies that steer public policy towards the long-term goals. This guide provides both.
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HEADLINES: North Dakota
Spat over tuition, buildings in ND higher ed plan
The North Dakota House's decision to shave $32.8 million from the governor's proposed higher education budget would force the state's university system to raise tuition more than 4 percent annually, university officials said.
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Solutions: North Dakota
State debt in North Carolina
North Carolina should limit non-voter-approved debt. Any further borrowing by the state should be subject to voter approval. It should also reform state employee pensions by moving to more portable and flexible benefits, such as a 401(k). State government should set aside reserves to cover future health care costs for retired state employees. Health Savings Accounts would be one solution and will remain an option at least until 2018, when the state will need to meet federal health insurance regulations.
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Solutions: North Dakota
Pension Reform: Patching the Hole in the Sinking Ship
Opening up the NDPERS's defined-contribution (DC) plan to all workers would have a dramatic impact on the system's bottom line. A DC plan, similar to a 401k plan, would allow the employees and the employer to contribute a defined amount of salaries and wages - say, the current 8.12% - but the state would not have to worry about ensuring the viability of the system.
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Solutions: North Dakota
Moving Forward
A guide to needed reforms in pensions, taxes and higher education, among other areas, with two types of goals that are important when working towards limiting government: long-term policy objectives that show the end-game goals and short-term policies that steer public policy towards the long-term goals. This guide provides both.
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Solutions: North Dakota
Pension Reform: Patching the Hole in the Sinking Ship
Opening up the NDPERS's defined-contribution (DC) plan to all workers would have a dramatic impact on the system's bottom line.
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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: Federal Government Impact, Budget Processes and Systems
Obama Takes Aim at the Midwest
Not only will agricultural subsidies legislation disproportionately affect the budgets of Heartland states, it also may play a more influential role in the upcoming Presidential election than a cursory count of electoral votes and voting trends indicate.
