There is no shortage of proposed solutions to the fiscal crises New York municipalities are grappling with. But one of the simplest strategies—developing multiyear financial plans and posting them for all to see—has yet to catch on. Read More
Tag: Government Operations
New York State's decision to roll the dice on more Indian casinos, video gaming and Powerball is ultimately expected to pump another $1 billion into the state treasury annually, but the inevitable court challenge may delay that payoff for several years. In the meantime, the state clearly faces a very real downturn in its economy and revenues. Read More
Much of Gov. Pataki's proposed state budget (his costly expansion of health care, in particular) is a far cry from the leaner, cleaner fiscal plans of his first term. But in at least one crucial respect, New York's revenue shortfall has prompted a welcome return to his budgetary roots: For the first time in seven years, the governor is launching a concerted effort to reduce the size of the state work force. Read More
The largest privately run ferry service be tween New Jersey and Manhattan is seeking a financial bailout for at least some of its operations from the Port Authority of New York and New Jersey, which already controls most of the bridge, tunnel and rail network that ferry riders are paying a premium to avoid. Read More
During the recent uproar over the Thruway Authority's questionable handling of a proposed Erie Canal land development deal, far too little attention was paid to the more fundamental question of why the Thruway Authority had anything to do with the canal in the first place. Read More
THE House of Representatives this week is expected to pass a federal stimulus package that could pump at least $17 billion of noncapital funding directly into New York's state and local government coffers over the next two years. Read More
Thirty-five years ago this month, the state Urban Development Corp. defaulted on its short-term debt -- setting off bond-market alarms that culminated in New York City’s 1970s fiscal crisis. Could the Metropolitan Transportation Authority become this era’s UDC? Read More
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