Sentences with phrase «budget hole»

Lawmakers are working to craft a funding formula that will satisfy the court, but they also face a large budget hole over the next two fiscal years.

A district that expects to drain its reserve funds and is looking at a billion - dollar budget hole the year after this can not afford across - the - board pay raises.

But the governor's budget office, in its financial report, says that viewing the projected gaps as actual future budget holes is misleading.

If dollars remained after budget holes had been filled, states were not allowed to invest them in new reform initiatives; they had to distribute what was left to the districts by formula.

The survey of administrators reported that most of the funds were merely repairing budget holes and that little if any reform was being accomplished.

Reducing teaching assistants, cutting back on equipment and dipping into reserve funds were the main ways school leaders sought to patch up budget holes.

Instead of just filling budget holes as it did elsewhere, the American Recovery and Reinvestment Act passed by Congress last February offered Arkansas — one of the few bright spots in a dismal national landscape for K - 12 spending — a rare opportunity...

For some Democrats in Connecticut, the idea is simple: hedge funds have the money and they already get a tax break, so the state could plug budget holes with a 19 percent surcharge on investment companies.

«Today's announcement by Governor Cuomo is an encouraging first step,» Gianaris said in a statement, «but significant questions remain regarding the source of this new capital funding and the continuing budget hole of several billions of dollars beyond the amount announced today.»

The plan contained two major changes: public college tuition would be raised automatically and the state would commit not to cut state support for those institutions and would not use the increased tuition to close budget holes.

«As the financial crisis took hold, however, tax revenues from this industry dropped rapidly, contributing to the emergence of large budget holes in both states.»

Also, Spitzer didn't run on a message of fiscal restraint the way Cuomo did, and he didn't face the same massive budget hole to fill upon taking office, although there was — as there usually is — a structural deficit worth between $ 4.3 billion and $ 5 billion.

The financial control board says a Republican plan to close a $ 31.5 million budget hole comes up short.

Cities and states were still grappling with budget holes created by the great recession, and weren't in a position to pay for the infrastructure that comes with suburban - style development, nor the costs of new and improved schools.

It will cause a very large budget hole for Erie County when the credits run out.

The Bank may well hit a similar bump again this year, with Europe struggling with gaping budget holes again and the U.S. recovery wobbling.

New York is short $ 4.4 billion, and there's uncertainty over federal policies, including the overhaul of the tax code, that could leave the state with even a bigger budget hole in the future.

«Today's announcement by Governor Cuomo is an encouraging first step, but significant questions remain regarding the source of this new capital funding and the continuing budget hole of several billions dollars beyond the amount announced today.

«I think the governor offered little information on how New York will close a $ 4 billion - plus state budget hole and instead focused on continued high spending to fix everything that's wrong in the state,» he said.

In discussions with district leaders, GAO found that «most did not indicate that they would use [SFSF] funds to pursue educational reforms»; instead, they wanted to fill their existing budget holes.

Military rule will certainly not improve the nation's 8 % - of - GDP budget hole or its 72 % - of - GDP debt load, which is already well beyond the point that pushed Argentina to default on its international debt obligations back in 2001.

This week a good government group sued Suffolk over similar fee hikes, saying the money was intended to fill a general budget hole rather than cover the cost of providing real estate services.

We'll find out whether the new governor will continue Albany's practice of stealing dedicated transit funds to plug budget holes elsewhere, try again to reduce the state's meager contribution to student MetroCards to nothing, or decide instead -LSB-...]

«With a $ 14 billion M.T.A. capital budget hole, there's a lot of finger - pointing over adequate funding levels,» said Tri-State Transportation Campaign executive director Veronica Vanterpool.

But faced with a growing budget hole and continued pressure from Democrats fueled by Occupy Wall Street, the governor appears to have come to a compromise that technically lowers taxes from today's rates, and marks another legislative victory for the governor, who can now add a tax reform agreement as another notch in his first - year belt.

Walker argues he wants concessions to start immediately to help the state plug an estimated $ 3.3 billion two - year budget hole.

In instances where stimulus funds failed to fill budget holes completely, states and districts generally did not blaze a trail for reform, instead opting for temporary, shortsighted cuts designed to help them hunker down and ride out the current storm.

A decision in favor of Wichita and the other school districts suing for more money would make it more difficult for state lawmakers to fill a projected budget hole and would increase pressure for a new formula that ensures adequate funding.

In college, that might lead to a few [DECLINES] at your local bar, but out in the world after graduation it can mean missed payments and surprise budget holes that leave you scrambling to make ends meet.

The brash rhetoric and take - no - prisoners tactics of reformers — elected and otherwise — surely contribute to this dynamic (along with watching many colleagues get pink slips as districts try to close budget holes).

«If this money is simply plugging budget holes that's not something we are going to be interested in.»

[Supporters of continuing the tax — including a number of Assembly Democrats — argue the governor won't be able to cut his way out of such a massive budget hole.]

But despite spending cuts and consolidations, the city's fund balance takes a big hit, in order to fill a multi-million dollar budget hole.

That could mean an additional $ 548 million a year, applying even more pressure on state lawmakers already scrambling to fill a $ 700 million budget hole created largely by deep income tax cuts enacted at the urging of Republican Gov. Sam Brownback.

The law stipulated that states first use their allotments to fill budget holes and, instead of giving states the opportunity to reconsider their allocation of resources, it mandated that they use their existing funding formulas.

A bureaucratic error could create a nearly $ 10 million budget hole for Suffolk County, but it also has inadvertently given county drivers a six - month reprieve from higher fees for car and truck registrations.

Gov. Andrew Cuomo and other New York Democrats said the Medicaid amendment would shift $ 2.3 billion in costs from county governments to the state, creating a big budget hole.

Deasy has warned that if sequestration is not ended, LAUSD would face a $ 350 million budget hole in the current school year.

«I think the governor offered little information on how New York will close a $ 4 billion plus state budget hole and instead focused on continued high spending to fix everything that's wrong in the state,»

Moreover, the fund has taken on added importance because in many states, the bulk of the stimulus money is being used to fill increasingly larger budget holes, and not for the innovations Obama wants.

Elsewhere, emerging market central banks and sovereign wealth funds have been selling reserves and risk assets to defend currencies and or plug budget holes.

I'm sure many women are interested in how the next government will support or not support parenting and families but I suspect that they might also be interested in how we are going to avoid having a budget hole the size of Greece and a runaway warming of the planet.

Factcheck Please: The money can't be used to plug budget holes — it never would be $ 700 million for one state, and accepting it would cost districts more money.

(Back in the day, Gov. Mario Cuomo used it to plug budget holes, too.)

Assembly Speaker Carl Heastie has said for weeks now that he and his Democratic members are ready to return to fix any budget holes that might occur.

Morover, New York would likely suffer a budget hole from the loss of federal health care funding.

Several months ago, Paterson — citing the state's $ 9.2 billion budget hole — vowed to cut off funding for the state parks system, meaning that 41 parks and 14 historic sites would be shut down altogether and services cut at 24 more.

Pally and others argue that a lot has changed since 2009, when the recession caused the MTA to scramble to fill a budget hole of more than $ 1 billion.