TITLE

Despite Revenue Growth and an On-Time Budget, New Gaps Loom

AUTHOR(S)
O'Brien, Elizabeth
PUB. DATE
March 2006
SOURCE
Bond Buyer;3/30/2006, Vol. 355 Issue 32350, Special section p20
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article provides an overview of the fiscal condition of New York. The state registered a stronger revenue in 2005 and an on-time budget. Moody's Investors Service's upgrading of the state's general obligation debt reflects its improving economy. Fitch analyst Richard Raphael comments on New York's wealthy and diverse economy. Meanwhile, to address the estimated $50 billion actuarial liability for health benefits, Mayor Michael Bloomberg has proposed setting aside $1 billion each from fiscal 2006 and 2007 into an irrevocable trust for retiree health benefits.
ACCESSION #
20409214

 

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