Sentences with phrase «projected budget gaps»

Two of the other two items that got the most attention were budget related: The Five - Year Financial Outlook to include Projected Budget Gaps and Tax Impacts and MSCR Proposed Budget Reductions and Efficiencies for 2010 - 11; (the third is the Reorganization, which is also indirectly budget related).

«The district's budgeting practices made it appear that the district needed to both raise taxes and appropriate fund balance and reserves to close projected budget gaps,» read the report.

Projected budget gaps, weaker than expected personal income tax collections and cuts to federal programs combine for a triple threat of budgetary risks,» DiNapoli said.

State Comptroller Thomas DiNapoli today issued his own mid-year summary, accompanied by a press release citing the «triple threat of budgetary risks» posed by «projected budget gaps, weaker than expected personal income tax collections and cuts to federal programs.»

Instead, at the first glimmer of budget balance since 2000, the Governor is proposing to create a series of projected budget gaps for future 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.

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.

When Cuomo first took office in 2011, he closed a $ 10 billion projected budget gap that he inherited from the previous governor.

He says New York faces a «triple threat» of the projected budget gap, weaker personal income tax collections, and cuts to federal programs.

It projects budget gaps every year going forward.

That means the capital projects budget gap is now $ 9.8 billion, down from $ 14 billion.

«One is to overcome the $ 40 million projected budget gap.

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.

Not exact matches

When Elgin — a town that has had to fill budget gaps in the millions — couldn't afford a park project on its own, officials looked to partner with a neighboring park district.

The proposed $ 152 billion budget proposal as unveiled by Cuomo did not include a contingency plan for repealing the measure, which is projected to result in a $ 3.7 billion gap in the state's revenues.

The Executive Budget, at $ 134 billion, proposes to close a $ 7.4 billion gap between projected spending and revenues, including a $ 500 million deficit carried forward from the current Fiscal Year.

The budget deficit for the current fiscal year had grown to $ 350 million dollars, and the projected gap for the new fiscal year would be a $ 3.5 billion dollar hole, if spending were to take place as planned.

Gov. Paterson has concluded that Lt. Gov. Richard Ravitch is a «double agent» working for Assembly Speaker Sheldon Silver and against his own efforts to cut the state's projected $ 9.5 billion budget gap, The Post has learned.

Noted that state revenues are set to drop in coming years — with budget gaps projected to climb to $ 3.6 billion by 2020.

Governor Cuomo's Executive Budget proposal eliminates the projected 2011 - 12 gap with $ 8.9 billion in recurring spending actions, or nearly 90 percent of the total plan.

The mid year financial report released by Cuomo's budget office says options to close the gap include more cuts to state agencies, delaying payments to local governments and schools, suspension of some construction projects, and even borrowing money short term to pay for operating expenses.

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

«This spending growth is not accompanied by any additional increase to the city's budget reserves, and budget gaps projected in future years have grown,» said Citizens Budget Commission president Carol Kellebudget reserves, and budget gaps projected in future years have grown,» said Citizens Budget Commission president Carol Kellebudget gaps projected in future years have grown,» said Citizens Budget Commission president Carol KelleBudget Commission president Carol Kellermann.

Although there is additional revenue available to fund these costs in the coming fiscal year, the agreed upon additions are an added risk to the City's fiscal health in future years, when budget gaps are already projected and when an inevitable economic downturn will erode the revenue required to pay for recurring expenses.»

As rumors swell that the city plans to increase property taxes to fill its projected $ 2 billion budget gap, the City Council Speaker wants Mayor Michael Bloomberg to know that a tax hike is not on the table.

It would be an effort to narrow the state's budget gap — one whose effect is partially symbolic, as it would save the state only $ 200 million to $ 400 million of the projected $ 9 billion deficit.

As predicted, Governor Paterson's budget plan to cut down the projected $ 15.4 billion budget gap is pretty draconian.

The budget growth rate should be limited to the projected rate of inflation, around 3 percent, which would largely eliminate this year's $ 4.4 billion budget gap.

In a conference call with Senate Majority Leader Dean Skelos and Assembly Speaker Sheldon Silver this morning, Governor David Paterson outlined the cuts he'd like to make in the state budget to help close the projected $ 6.4 billion budget gap.

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.

Cuomo said due to the structural reforms enacted in last year's budget as well as the reforms proposed in this budget, the budget gap in 2013 - 14 is projected at $ 715 million.

«While the FY2015 budget does not now contain a projected surplus to help lower these out - year gaps, the city must manage FY2015 in a way that builds up a surplus and creates recurring savings for future years,» he noted in his testimony.

«The borrowing will enable the country to bridge the gap in the 2017 budget currently facing liquidity problem to finance some capital projects.

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.

YONKERS - In the face of New York State's $ 15 billion budget gap, Senator and Deputy Majority Leader Jeff Klein (D - Bronx / Westchester), joined by Senator Andrea Stewart - Cousins (D - Yonkers), and the Director of the NYS Lottery, will propose the expansion of gaming options at the New York State's existing video lottery terminals (VLTs) and electronic gaming tables as a way to generate a projected $ 145 million in education funding.

Using a current - law baseline measure, the state budget gap for fiscal 2018 - 19 alone was last projected by DOB at $ 4 billion, a figure the governor himself began citing recently (without further explanation) in his recent warnings about the implications of federal health care spending cuts.

That upside revenue potential alone will pretty much offset projected out - year budget gaps.

«This spending growth is not accompanied by any additional increase to the city's budget reserves, and budget gaps projected in future years have grown.»

Assuming Cuomo continues to hold spending growth to 2 percent a year, DOB was projecting a balanced budget for the current year, followed by a 2018 - 19 gap of $ 841 million.

It's not unusual for state budgets to project cash shortfalls for future years, but the gaps are supposed to shrink as those years approach.

Assessing options and scenarios to proactively address potential significant additional budget reductions in 2011, including one of several options listed in the current Erie County Four Year Financial Plan to balance projected funding gaps that would reduce the Library's 2011 allocation by a further 10 % ($ 2.2 million); and

With a projected $ 3.8 billion budget gap in FY 2019 and signs of a potential economic slowdown, Comptroller Stringer emphasized the importance of building up the City's budget reserves and finding savings in his testimony before the City Council Committee on Finance's hearing on the Fiscal Year 2017 Executive Bbudget gap in FY 2019 and signs of a potential economic slowdown, Comptroller Stringer emphasized the importance of building up the City's budget reserves and finding savings in his testimony before the City Council Committee on Finance's hearing on the Fiscal Year 2017 Executive Bbudget reserves and finding savings in his testimony before the City Council Committee on Finance's hearing on the Fiscal Year 2017 Executive BudgetBudget.

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

Warren is facing a Democratic Primary in September, and earlier in the day, one of her opponents, James Sheppard, said that the proposed spending plan would delay some development projects because of the need to plug a budget gap.

(New York, NY)-- An analysis released Tuesday by New York City Comptroller Scott M. Stringer of the City's Executive Fiscal Year 2017 Budget and Financial Plan for Fiscal Years 2016 - 2020 anticipates higher projected tax revenues but growing out - year budgetBudget and Financial Plan for Fiscal Years 2016 - 2020 anticipates higher projected tax revenues but growing out - year budgetbudget gaps.

Governor Cuomo's budget office, in its mid year report, projects structural gaps of $ 1.7 billion dollars in the new budget, growing to nearly $ 3 billion dollars in 2016, if nothing is done to curb spending.

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.

«We just don't have much time left to fix the problem,» the mayor said, warning that the 2014 budget is especially worrisome, with an expected gap of $ 3 billion between projected expenses and revenues, and no rainy - day fund left to pay the bills.

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.