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Miami adopts hiring freeze across city departments to cut $25M after budget snafu

The problems began after a commissioner was arrested on corruption charges. ....

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Japan to expand FY2024/25 budget reserves for earthquake aid

Japan plans to expand its budget reserves for fiscal 2024/25 to support recovery from the Noto peninsula earthquake, Minister of Finance Shunichi Suzuki said on Tuesday. The cabinet earlier on Tuesday approved 4.74 billion yen in spending from fiscal 2023/24 reserves for such aid as water, food, diapers and heaters, Suzuki also said. Using reserves allows for a faster and more "realistic" response than compiling an extra budget, Suzuki told a press conference, indicating the possibility of further expenditure from reserves as damage from the temblor becomes clearer. ....

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Although improving, Illinois' rainy day fund is one of worst in the country

(The Center Square) – As fiscal conditions tighten going into 2024, a new analysis shows Illinois’ budget reserves are among the lowest in the nation. ....

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Thanks to GOP, Frankfort's fiscal responsibility is a remarkable pivot from the past

OpEd: Exhibit one: last month, Kentucky closed the fiscal year with $3.7 billion in our “rainy-day fund.” ....

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Newsom, California lawmakers reach consensus on state budget

California Gov. Gavin Newsom (D) and state lawmakers announced late Monday night that they had reached a deal on the 2023-2024 budget without touching the state’s safety net. The $310.8 billion budget, which would include $225.9 billion in general fund spending, would seek to bridge a nearly $32 billion deficit while maintaining $37.8 billion in reserves. … ....

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