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The Fiscal Link January 2014

The Fiscal Link

 

NCSL and NALFO Updates

State Budget Update

NCSL released “State Budget Update: Fall 2013,” which contains information on the fiscal situation in the 50 states as reported by legislative fiscal officers. 

Read about the report

Top Fiscal Issues

NCSL compiled a list of the “Top Fiscal Issues" facing legislatures in 2014. The list was created using information provided in NCSL’s latest State Budget Update survey.

 Read the brief

LegisBrief

“The Role of Fiscal Notes in the Legislative Process” is an NCSL LegisBrief that provides an overview of the fiscal notes across the states, including dynamic fiscal notes.

Read the LegisBrief

Stephen D. Gold Award

Congressman Peter Welch of Vermont congratulated Stephen Klein of the state’s Joint Fiscal Office on the floor of the House of Representatives for receiving the Stephen D. Gold award at NCSL’s Fall Forum in Washington, D.C.

Read the record

STate news and reports

California

The Legislative Analyst’s Office released its annual forecast of the state’s general fund revenues and expenditures over the next six years. Read the report

Iowa

The Fiscal Services Division published an Issue Review analyzing the effectiveness of Adult Drug Courts in Iowa. Read the issue review

Maine

A recent “Municipal Funding Report” from The Office of Fiscal and Program Review summarizes major funding distributed to municipalities and counties. Read the report

Minnesota

The Office of Counsel, Research and Fiscal Analysis published a Fiscal Issue Brief titled “Minnesota Budget Basics: Key Processes and Glossary of Terms.”
Read the issue brief

Utah

The Office of the Legislative Fiscal Analyst released a brief highlighting the state’s expenditures for financial assistance or services to low-income individuals and families during the last fiscal year.
Read the brief

Virginia

The Joint Legislative Audit and Review Commission published its annual report on spending on the state’s “Standards of Quality” for K-12 education. Read the report

Washington

The Joint Legislative Audit and Review Committee published a report on “Guidance for Tax Preference Performance Statements,” which recommends metrics for evaluating tax preferences. Read the report

Federal news and reports

Federal Investment

The Congressional Budget Office published a report examining “Federal Investment.” The report explains the different types of federal investments and the rationale behind those investments.

Read the report

Grant Guidelines

The Office of Management and Budget published new uniform guidelines for federal grants. The new guidelines are an attempt to strengthen the grant funding process and reduce red tape.

Read the guidelines

Education Statistics

The U.S. Department of Education released its annual “Digest of Education Statistics,” a compilation of national statistical information covering prekindergarten to graduate school.

View the statistics

Other Items of interest

State Budget Crisis Task Force

The State Budget Crisis Task Force, which has been examining state financial planning and reporting, released a report  that paints a grim picture for states.

Read the report

Public Sector Benefit Plans

The Rockefeller Institute issued a new report on the underfunding of public sector defined benefit plans.

Read the report

Affordability of State Debt

The New England Public Policy Center published a report titled “Assessing the Affordability of State Debt,” which discusses methods policymakers can use to gauge whether their state’s debt is sustainable given other budget pressures. 

Read the NEPPC report

Economic Conditions

A recent release of state Leading Indexes (a six-month forecast of four combined state-level economic indicators) from the Philadelphia Federal Reserve indicates economic conditions are expected to improve in nearly every state over the next six months.

Read the forecast

Fiscal 50

The Pew Charitable Trusts introduced a new “Fiscal 50” tool, which allows users to analyze data from economic indicators to assess the fiscal health of states. View the tool

Homeownership Incentives

The Brookings Institution published a special report on homeownership tax incentives. The report presents three tax reform options to replace existing deductions to promote homeownership.

Read the report

Defense Sequester

The Bipartisan Policy Center released a report analyzing the impact of the defense sequester on the economy. The report finds that adopting the bipartisan agreement currently moving through Congress will delay some negative effects of sequestration. 

Read the report

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