Public Finance Proposal New York State Financial Essay

PAGES
3
WORDS
1037
Cite

Public Finance Proposal New York State Financial Budget

2010/2011 budget New York

While preparing the 2010/2011 New York budget, efficiency and transparency is to be put into consideration. The budget is prepared with recommendations from the executive board, the Director General, who decided on the priorities of the budget, while other field offices, BB and sector bureau also gave their contributions and estimates. Drafting of the budget and presenting it to the 181st session of the board undergoes revision, later presented to 182nd session, which the general conference approves during the 35th session.

The enactment of the budget was in regards of section 401 and 423, and according to Military Construction and Veterans Affairs and Related Agencies Appropriations Act of 2010; sec 9001 appropriated funds for the department of defense. Sec 9003 executed and supported operations in overseas as long as there was supervision. Education sector had an accountability system that provided by the Education Act thus ensuring proper use of funds. State education agency and sec 1003 and 1502 considered to ensure appropriation of funds, by cutting off money set for education purposes by 5% and increased taxes and fees to $1 billion, with also reduced spending in higher education with approximately $142. 7 million cut from colleges and universities in the New York state (Paterson. 2010).

Estimated cut in health services summed up to be approximately about $131.9 million from health care systems, hospitals and nursing homes, although $455.3 million was the actual proposal. With all Medicaid expenses shifted from all the counties to the state administration, it was to ensure efficiency and eligibility...

...

Insurers of health set to seek insurance department before any action of increasing its health rates is to be taken. Unions that provided home-based care to children were approximately allocated for $4.98 million increase for their funds to support children, with the executive proposal of acceptance. Proposed increase on the development of residents and initiatives by approximately $101.9 million.
There was significant alteration of tax to balance the state budget and economic growth purposes. Business, individual, and sales persons were the categories of this taxation. High income earners were to be taxed highly than the previous financial year of the state, with the imposition of tax to non-residents access to business or receive any services within the New York state. New businesses were to perform its activities under a specified respective industry with taxation of 2%. Filming production and post production in New York State was to be taxed, while post production was also to be taxed under a specified industry.

Cut In house projects was $6.6 million, with restoration of approximately $3 million to NNP and RRP housing programs. NYCHA Tenant Pilot Program received approximately $300,000 for the general support of this program. Approximately $30 million was allocatedto transport sector, mainly for education purposes and effectiveness of school programs (Silver, S., pg1-30).

Long-term financial alternatives in New York

Planning is a blueprint to be followed in the success of a financial operation. Effective planning ensures proper management of finance in the present and future. New York State has introduced long time financial alternatives that…

Cite this Document:

"Public Finance Proposal New York State Financial" (2012, May 13) Retrieved February 22, 2024, from
https://www.paperdue.com/essay/public-finance-proposal-new-york-state-financial-79956

"Public Finance Proposal New York State Financial" 13 May 2012. Web.22 February. 2024. <
https://www.paperdue.com/essay/public-finance-proposal-new-york-state-financial-79956>

"Public Finance Proposal New York State Financial", 13 May 2012, Accessed.22 February. 2024,
https://www.paperdue.com/essay/public-finance-proposal-new-york-state-financial-79956

Related Documents

Budget Plans New York City Financial Plan Are total revenues growing faster or more slowly than expenditures? Show the annual growth rates for revenues and expenditures in a table. The expenditures and taxes are in sync for the first two years of the table (2012 and 2013) but the expenditures outstrip taxes by about 2500-3000 a year after that, for years 2014, 2015 and 2016. As requested, here are the annual growth rates

Healthcare spending by the New York State persistently surpasses its earnings. That difference continues to be expanding and is also anticipated to broaden unless of course there happen to be severe, continuous modifications in spending budget actions. Lieutenant Governor Richard Ravitch, in "A 5-Year Strategy to Deal with the State of New York's Spending budget Deficit" released during March 2010, approximated this structural disproportion within the state's spending budget to

New York State Budget
PAGES 10 WORDS 2703

spring of 2010 by Rasmussen Reports showed that 55% of New Yorkers blamed the state's budget crisis solely on the state's politicians. The telephone survey showed that the then $9 billion budget deficit was perceived as being a result of the "bickering" amongst Democrats and Republicans in Albany. The voters showed their concern by electing a new governor last fall, Andrew Cuomo, the son of a former governor, Mario

New York City Commuter Tax
PAGES 10 WORDS 2665

New York City Commuter Tax and its history. The writer discusses the previous attempts to bring it forth as well as current discussions about its use. The writer argues that the tax is a bad idea. There were 15 sources used to complete this paper. While New York City continues to grow it struggles to find resources to handle its public duties. As the most populated city in the nation

Public Budgeting
PAGES 22 WORDS 6131

public budgeting comparisons of the federal, state and local budget distributions. This thesis will be focused on whether or not the increased budget allocations for transportation in the federal, state and local government will enhance travel security, efficiency, performance measures and R&D development in the domain. The thesis will start off with a proposal for an agency that works across and is allocated budget in all the federal, state

finance and financial entrepreneurship. The basis of the article is on a discussion that was held on this subject among four leading lights of financial entrepreneurship in the United States - Michael Milken, Lewis Ranieri, Richard Sandor and Myron Scholes. These people are famous in their own right and have had a sizeable role in financial entrepreneurship in the U.S. over the last 20 years. We have first discussed