N.Y. Budget Clock Runs Out

McDonald, Michael
April 2003
Bond Buyer;4/1/2003, Vol. 344 Issue 31605, p1
Trade Publication
For the 19th year, New York has failed to enact a budget in time for the fiscal year 2003, which begins as on April 1, 2003. However, the state finds itself in a precarious financial position this time around, with cash flows tight and the bond market growing increasingly concerned about the state's credit. In that proposal, which assumed the budget would be passed before April 1 and would include the approval of 4.2 billion dollars in tobacco bonds, the governor projected cash balances of 195 million dollars for the end of May 2003 and 624 million dollars for the end of the first quarter 2003. The Legislature was separately considering a bill to pay debt service on the state's bonds for the fiscal year, which the Senate had passed and the Assembly was expected to pass.


Related Articles

  • Budget for farm success. Shirley, Andrew // Farmers Weekly;8/22/2003, Vol. 139 Issue 8, p28 

    Discusses the benefits of managing cash flows and budgets for a successful farm management. Statistics of farmers in Great Britain that uses budgets or farm forecasts; Process of budget preparation; Tips in reducing the strain of budgeting. INSETS: PREPARING A BUDGET;WHAT TO INCLUDE.

  • Like a car with no gauges. Miller, Hal // Model Retailer;Mar2008, Vol. 34 Issue 3, p6 

    The author reflects on the importance of budgeting and cash flow and developing a monthly plan for it. He believes that a lot of people who run their businesses, run it like their personal finances without planning properly, which he likens to operating a car with no gauges. The author suggests...

  • 15-Day Cash Managements Draw 5.170% High Rate. Smith, Nicole M. // Bond Buyer;11/14/2006, Vol. 358 Issue 32508, p2 

    The article reports on the selling of the U.S. Treasury Department on $11-billion of 15-day cash management bills. The bills were dated November 15, 2006, which will be due on November 30, 2006, having a high tender rate of 5.170%. The coupon equivalent was 5.253%, while the price was at...

  • Extracting Value. Rayney, Peter // Accountancy;Dec1999, Vol. 124 Issue 1276, p97 

    Proprietors of owner-managed businesses look to their company for financial security and to support their personal lifestyles. As director-shareholders, proprietors must now draw a reasonable salary complying with the national minimum wage rules. They will also have a range of tax-efficient...

  • Bush Proposes $294 Million Federal Payment to District of Columbia. Ackerman, Andrew // Bond Buyer;2/6/2007, Vol. 359 Issue 32562, p30 

    The article reports on the proposed $294 million budget for the federal payment to Washington. The budgetary outline for 2008 which will be considered by Congress over the next few months, calls for a federal payment that is $24 million above the $270 million that the Legislature provided in the...

  • chapter seven: Managing training budgets.  // Training Manager's Desktop Guide;12/1/2001, p135 

    Chapter 7 of the book "Training Manager's Desktop Guide" is presented. It will help the manager to identify the key features and benefits of developing a training budget. This chapter also draws up a cost matrix by identifying the key resources used by the training department. It will help the...

  • MANAGING SHRINKING BUDGETS. Smith, Rosemary // Pulse;9/24/2008, Vol. 68 Issue 32, p41 

    The article discusses the significance of up to date and constantly adjusted cash-flow forecasts. According to the article, with all the factors that blows to income, there is a need to manage cash flow. It is stated that preparedness safeguards the practice despite the increase of costs and the...

  • Adjusting the cashflow.  // NZ Business;Apr2013, Vol. 27 Issue 3, p42 

    The article presents information related to cashflow management. It is noted that to develop a monthly budget tracker is the easiest way to determine a business's cashflow requirements. It is mentioned that a positive cashfiow environment could be created by establishing a system where expenses...

  • Foundation Stones. Grandy, Tom // Reeves Journal: Plumbing, Heating, Cooling;Sep2011, Vol. 91 Issue 9, p66 

    The article addresses the key pieces of information contractors need to track to know whether they are on target. The author emphasizes the importance of putting a budget together. He adds that there are also three main pieces of information that need to be tracked each month, namely total...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics