Advocates for state services and programs shouldn't hold out hope that Arizona's improving fiscal situation means cuts made to keep the state budget in the black will be reversed any time soon, an official said Friday.Read More »
Major economic indicators in Arizona point to a steady recovery, although some bumps remain.
Revenues in August grew by 8.6 percent, buoyed by strong showings in sales and individual income taxes.
Arizona has weathered its share of economic storms in recent years. Stopgap measures, a temporary tax increase and incessant budget slashing allowed the state to precariously stay afloat.
But the horizon promises no relief yet. In fact, many budget decisions drawn up by state leaders have actually put Arizona on a course toward troubled waters.
For a state that has been grappling with a multibillion-dollar deficit for four years, news of a potential revenue surplus is like a few drops of rain after a long drought.Read More »
For a state that is starving for good news, the recently-concluded fiscal year has brought some relief as annual revenue grew for the first time since the recession, preliminary figures released on July 27 showed.Read More »
The Commission on Privatization and Efficiency (COPE) will deliver its long-awaited final report to Gov. Jan Brewer on Thursday, nearly eight months after it original deadline.Read More »
A Maricopa County Superior Court judge is prepared to rule in favor of a special fund that was swept in 2009 to balance the state budget, but he is not likely to order the Legislature to return the nearly $20 million it took.Read More »
Arizona is about to consider a funding concept for its three universities that has shown spotty results, but which is re-emerging as the system of choice for legislatures around the nation. The Arizona Board of Regents is set to unveil a detailed plan in early July that will serve as the foundation for legislation to transform the funding system from enrollment-based to performance-based.Read More »
Increases in individual income taxes and a higher-than-anticipated influx of federal funds put May’s revenue collections on solid footing, the Legislature’s budget arm reported.Read More »
Last week, California Gov. Jerry Brown vetoed a budget that he said was filled with gimmicks — or as he put it, “legally questionable maneuvers, costly borrowing and unrealistic savings.” Editorial boards have praised Brown for exercising responsible fiscal judgment. Meanwhile, Brian Joseph of the Orange County Register has written that Brown’s own budget plan uses gimmicks, too.Read More »