By Blaze Lovell, includes “Financing for the state’s portion of the new stadium costs would be handled entirely through general obligations bonds backed by taxpayer dollars. As it stands now, more than half of the state’s investment would be paid back directly by stadium revenues.”
By Kevin Dayton, includes “The breathtaking scope of the federal bailout of state government was on display Wednesday as House Finance Committee Chair Sylvia Luke announced the state now has enough money to repay a $700 million unemployment insurance loan on behalf of Hawaii’s employers.”
By Keli’i Akina, includes “If you had $1,000 in the bank and $10,000 in credit card debt, would you tell people you have a budget surplus? If you said ‘Yes,’ then you may have a future in politics.”
By Keli’i Akina, includes “If you had $1,000 in the bank and $10,000 in credit card debt, would you tell people you have a budget surplus? If you said ‘Yes,’ then you may have a future in politics.”
Includes “The national Governmental Accounting Standards Board is proposing a new accounting standard and a new accounting concept that the Grassroot Institute of Hawaii says would normalize and make more difficult to reform flawed government accounting practices that lack accuracy and transparency. …”
YouTube video, 30-minute interview of Sheila Weinberg (TIA).
By Scott Rasmussen, includes “… On a percentage basis, the biggest increases were found in Idaho, Arizona, Nevada, and Utah.”
Gov. David Ige’s proposed budget for fiscal 2021-2023 includes $1 billion of “other revenues,”[1] the source of which is not transparent, but which likely will be tax or fee increases, according to new research by the Grassroot Institute of Hawaii.
The 2020 Financial State of the States report surveys the fiscal health of the 50 states prior to the coronavirus pandemic. This data is released today by Truth in Accounting (TIA), a think tank that analyzes government financial reporting.
How large could the shortfall in state government general revenues be, amidst the coronavirus and related crises?
Honolulu is one of four cities in the United States that received an F grade due to the high tax burdens of its residents, a recent analysis from Truth in Accounting, a nonprofit finance organization, found.
The top 10 states that are the most fiscally responsible are run by conservatives in nine out of 10 cases. The bottom 10 most fiscally irresponsible are run by liberals in nine out of 10 cases.
Figures released by the U.S. Census Bureau this week were true to expectations: During fiscal year 2019, Hawaii bade farewell to more residents than ever — a record 13,817, compared to the previous record in fiscal 2017 of 13,537.
The new pension fund strategy adopted by the state calls for increased employer and employee contributions.
Investors in state bonds, beware. Four U.S. states — Illinois, New Jersey, Hawaii, and Connecticut — are sitting on time bombs. Between 35% and 51% of their annual revenues are likely to be needed to meet their total annual payment obligations on existing debt, retirement plans, and retiree healthcare.
The state of Hawaii’s pension plan is underfunded, and if the problem isn’t resolved the crisis could get worse.
If you are a serious student of Hawaii constitutional law, here is a question for you. Where in our state constitution does it say we have to have a balanced budget? The answer appears later in this column.
Called stress test reporting, this new practice can show policymakers how adverse economic scenarios could affect retirement system investments and state budgets.
Stress tests help policymakers plan for the next recession
Several other states, including Connecticut, Hawaii and Virginia, already require regular stress testing by public pension plans.