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Tag Archives: budget deficit

Arizona said to be on track for financing

Arizona is on track to complete a big financing deal needed so the cash-short state government can pay its bills during February, officials said Jan. 6. The Department of Administration said it plans to complete approximately $735 million of sale-leaseback financing for prisons, legislative buildings and other state properties this month.

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ADOT pledges to plow roads during storm

Despite a $100 million deficit, the Arizona Department of Transportation vows to keep roads in northern Arizona plowed and safe during a winter storm that is expected to hit Arizona this week. ADOT road crews plan to be out in force plowing at the same pace as last year.

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Special session kicks off, but most work slated for Thursday (access required)

Lawmakers officially kicked off the fourth special session of the year - the second devoted to the fiscal 2010 budget - with an uneventful gathering at the state Capitol on Nov. 17. The work on taking a small bite out of the state's $2 billion budget deficit will take place on Nov. 19, when House and Senate budget committees are expected to meet.

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Brewer: Long-term solution to Arizona’s economic woes depends on jobs

While a temporary sales tax increase would help address Arizona's budget crisis, a long-term solution will depend on attracting firms that offer high-paying jobs, Gov. Jan Brewer told business leaders Nov. 4. "Our future pivots on our ability to create jobs, better jobs, permanent jobs and more of them," Brewer said at a Greater Phoenix Area Chamber of Commerce luncheon.

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Wishful thinking interrupted by budget reality (access required)

JLBC has singled out three budget provisions that wouldn't live up to their billing: a plan to save $50 million due to reduced fraud in the health care system; deals to privatize nine of the 10 state prisons; and a plan to raise $735 million by selling dozens of state buildings, then leasing them back. But there's more.

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Budget gap grows as result of ‘unrealized savings’ (access required)

Legislative budget analysts said last week that $165 million of the state budget deficit is due to "potential unrealized budget savings" that were assumed as part of the spending plan, which was designed to bridge a $3 billion shortfall. In short, several savings measures won't work as planned.

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