Sentences with phrase «budget gap next»

Both Cuomo and DiNapoli say the state is also facing a $ 4 billion budget gap next year.

Westchester County, the New York suburb where household income is 53 percent above the U.S. average, wants to use its top credit rating to sell taxable bonds to finance pension contributions and avoid increasing the highest taxes in the country... It faces a $ 54 million payment to the state retirement plan in 2011, $ 78 million in 2012 and $ 163 million in 2015, said County Executive Robert Astorino, who's working to close a $ 166 million budget gap next year.

Both Cuomo and DiNapoli said the state also is facing a $ 4 billion budget gap next year.

Not exact matches

BRUSSELS, May 2 - The European Commission proposed a bigger new multi-year budget on Wednesday that will trigger battles among member states over how to fill the funding gap left by Britain's exit next year.

BRUSSELS, May 2 - The European Commission announced on Wednesday proposals for a new multi-year budget that is expected to see EU countries squabble among themselves over how to fill the funding gap left by Britain's exit next year.

BRUSSELS, May 2 - The European Commission met on Wednesday to agree proposals for a bigger new multi-year budget that will trigger battles among member states over how to fill the funding gap left by Britain's exit next year.

I know our club will have to make a statement in the transfer market next summer if and when Alexis Sanchez and Mesut Ozil decide to quit the club at the end of their contracts, and their departures will leave a nice sized gap in our wage budget which we could fill with a big arrival, but Griezmann looks too likely to join one of the bigger sides.

The Cuomo administration's Division of Budget released a quarterly spending plan update Friday morning that still shows out - year budget gaps for the next three fiscal Budget released a quarterly spending plan update Friday morning that still shows out - year budget gaps for the next three fiscal budget gaps for the next three fiscal years.

With Albany looking at another $ 9 billion budget gap to plug next year, the cycle of transit raids blowing a hole in the MTA budget is primed to start all over again.

In reality, prior to the new spending, New York State faced out - year budget gaps that grow from $ 2.0 billion next year to $ 4.2 billion in fiscal year 2018 - 2019.4

As illustrated in the Executive Budget financial plan, the state will be facing significant budget gaps in each of the next three years, and a new payroll tax on employers will be a tempting target for future administrations and Legislatures looking for increased revenues, but reluctant to impose new or higher taxes directly on indiviBudget financial plan, the state will be facing significant budget gaps in each of the next three years, and a new payroll tax on employers will be a tempting target for future administrations and Legislatures looking for increased revenues, but reluctant to impose new or higher taxes directly on indivibudget gaps in each of the next three years, and a new payroll tax on employers will be a tempting target for future administrations and Legislatures looking for increased revenues, but reluctant to impose new or higher taxes directly on individuals.

Some Democratic lawmakers have indicated they want more revenue - raisers next year in order to fill the remaining budget gap, which now stands at around $ 2 billion.

«Assuming the governor continues to hold spending at 2 percent, if he holds spending growth, we have budget gaps over the next three years starting at a little over $ 700 million starting next year,» McMahon said.

The gap in next year's budget is likely larger than initially estimated, Gov. Andrew Cuomo said today at a Red Room question and answer session.

Aresimowicz also expressed strong optimism Wednesday that talks with state employee unions will reach a deal on concessions to help close the projected budget gap that is now more than $ 2 billion for the next fiscal year.

On the plus side, the IBO estimated that budget gaps over the next two years would be smaller than the administration has projected.

And even if spending is capped at a 2 percent increase, the budget gap shrinks to $ 1.7 billion next year.

New York's expected budget gap is growing larger — a more than $ 4 billion deficit heading into the next fiscal year now poses a challenge for Governor Andrew Cuomo and state lawmakers as they prepare to run for re-election.

«The Council recognizes the need to make cuts that will help address next year's budget gap.

New numbers from state Comptroller Tom DiNapoli suggest next year's New York budget battle will be truly brutal: The gap to be closed now looks to be $ 4.6 billion worse...

The New York State Association of Counties has predicted a structural budget gap of more than $ 4 billion over the next five years if there are no changes, and some upstate cities are teetering on the verge of bankruptcy.

What he is staring in the face is estimated $ 40 million budget gap for next year — the difference between anticipated revenues and generally understood expenses — and a lean piggy bank (the fund balance) to tap.

As illustration, even if the legislature were to impose $ 4.2 billion in new tax and fee measures - as recommended by the Executive Budget — it would still leave the state with $ 11 billion in an accumulated structural budget gap over the next five years; a figure that will likely grow given the ongoing deterioration of state tax collecBudget — it would still leave the state with $ 11 billion in an accumulated structural budget gap over the next five years; a figure that will likely grow given the ongoing deterioration of state tax collecbudget gap over the next five years; a figure that will likely grow given the ongoing deterioration of state tax collections.

The report, generated as part of the state's «Quick Start» budget process, projects the deficit will reach $ 3 billion next year along with a gap of almost $ 250 million this year.

NYS, according to Comptroller Thomas DiNapoli is currently at a $ 2 billion budget gap and expected to rise to $ 2.9 billion over the next 2 years.

The report noted «while projected budget gaps may currently appear modest — certainly when compared with gaps faced in some recent years — the next Mayor and City Council are likely to face significant budget challenges,» a situation Mr. Thompson described as Mr. Bloomberg and Ms. Quinn rather literally passing the buck.

Walker, who took office last month, says the emergency measure would save $ 300 million over the next two years to help close a $ 3.6 billion budget gap.

Whenever the next update comes out, it probably will show a worsening FY 2018 budget gap, and perhaps even a true potential deficit for the current year — depending on whether Cuomo forces a post-election special session based on his power to cut spending in the wake of big enough drops in federal revenue.

The charts below illustrate the deteriorating fiscal outlook as measured by the traditional budget gaps calculation (showing the growth in next year's gap, from $ 1.8 billion in April plan to $ 4 billion in the July plan) and the governor's alternative measure, assuming spending is held to 2 percent (showing a flip from a $ 692 million «surplus» as of April to an $ 841 million gap as of July).

Niagara Falls school officials are bracing for potential job cuts of between 45 and nearly 70 employees under next year's budget to help close an anticipated budget gap of between $ 5.9 million and $ 7.3 million.

That approach has long frustrated efforts by many to see «budget gaps» in common - sensical or literal terms, because reported «out - year gaps» are not the actual differences in spending and revenues between one year and the next, but instead reflect projections of how circumstances would look if on auto pilot.

Gov. Andrew Cuomo's budget this year increases education aid by about $ 990 million, with $ 2.1 billion being spent over the next two years and also ends the education cuts known as the gap elimination adjustment.

That gap also will have an impact on budgets for the next three years, with administrators now projecting a cumulative $ 116.5 million deficit during that period if they don't reduce expenses.

Even with these big service cuts and even with the use of all of the state's flexible reserves for «non-rainy-day» purposes, the Governor's budget would still leave the Legislature and the next Governor with budget gaps of $ 2 billion in 2007 - 08 and $ 4 billion in 2008 - 09.

And NIFA contends that plans to save $ 7.5 million by restructuring county debt would yield only $ 5.5 million in savings next year — leaving a $ 2 million budget gap.

As the Empire Center's E.J. McMahon notes this week, the latest budget update puts next year's gap at $ 4 billion, up by $ 500 million just since February.

Sources said Alain Kaloyeros, SUNY Poly's president, responded by telling the legislators their chances at securing the request in next year's state budget might improve if the city's major institutions — its eds and meds — kicked in to fill some of the gap.

Syracuse faces an estimated budget gap of $ 16 million next year, which would eat up most of the $ 20 million that remains in the city's fund balance.

Governor Cuomo says he thinks the state can afford a tax cut next year, despite a projected $ 1 billion budget gap.

The state Association of Counties has predicted a structural budget gap of over $ 4 billion dollars over the next five years if there are no changes, and some upstate cities are teetering on the verge of bankruptcy.

Connecticut lawmakers are working on closing a nearly $ 1 billion budget gap for the next fiscal year before their legislative session ends at midnight on Wednesday, May 4.

Speaking at the last public hearing before the City Council and City Hall finalize next year's budget by the June 30 deadline, Mulgrew said the UFT has repeatedly brought ideas to the table on how to close the city's projected budget gap without teacher layoffs, such as cutting back on outside contractors at the Department of Education or using a portion of the city's rainy - day fund.

Extending the millionaire's tax, which the mayor and the governor oppose, would reduce this year's budget gap by $ 1 billion and next year's by as much as $ 5 billion, independent financial watchdogs say.

Although Buffalo Public Schools managed to close a $ 10.2 million budget deficit for next year without slashing jobs, the district still faces a long - term budget gap.

Democrats in the State Assembly have pushed for Mr. Cuomo to seek the extension of the tax surcharge on high earners, saying an extension would be an obvious way to address the $ 3 billion to $ 3.5 billion budget gap projected for next year.

Governor Cuomo said earlier this week that «there is a need» for a special legislative session to address a $ 350 million dollar budget gap in the current fiscal year, and a growing $ 3.5 billion dollar gap for next year.

Topics in the Q&A included the source of money for the City's planned pre-K advertising campaign, the City's target number of pre-K applicants, whether Speaker Silver thinks the proposed income tax surcharge should be pursued next year, how the pre-K selection process will work, how the City will cover the approximately $ 40 million annual gap between the estimated cost of pre-K and the amount provided in the state budget, when parents will learn whether their pre-K application has been accepted, how the City will collect data and measure success of the pre-K program, whether the existing pre-K application process will be changed, how the City will use money from the anticipated school bond issue, the mayor's reaction to a 2nd Circuit ruling that City may bar religious groups from renting after - hours space in public schools, the status on a proposed restaurant in Union Square, a tax break included in the state budget that provides millions of dollars to a Bronx condominium project, the «shop & frisk» meeting today between the Rev. Al Sharpton and Police Commissioner Bratton and a pending HPD case against a Brooklyn landlord.

Democratic lawmakers voted on a budget and tax plan to close $ 570 million of the projected deficit for the next fiscal year, but that's about $ 360 million short of the total budget gap.

And the New York State Senate, Gov. Cuomo and Mayor Bloomberg all wish to end the «millionaire's tax,» a surcharge on state residents making more than $ 200,000 (net, not gross) that would bring in $ 5 billion in extra revenue next year, even as the state confronts an historic budget gap.

He also proposes eliminating the Gap Elimination Adjustment over the next two years, so that schools would receive $ 434 million that has been kept from them under a budget maneuver the state Legislature passed in 2009 during a billion - dollar budget crunch.