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  • Economic development
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What the American Recovery and Reinvestment Act Means for Rhode Island

On February 17, 2009, President Barack Obama signed the American Recovery and Reinvestment Act (ARRA) into law.  This bill represents a significant infusion of federal funds into state and local governments, as well as providing direct benefits to individuals, families and businesses. These RIPEC Comments provide information on some of the initiatives contained in the …

Overview of Rhode Island’s State Pension System, 2009

On Monday, February 16, 2009, RIPEC released its analysis of the Rhode Island State Pension System. The report analyzes the current state of Rhode Island’s pension system and compares it to other New England state systems and the nation.  The report finds that: The estimated funding ratio for the Employee’s Retirement System of Rhode Island …

How Rhode Island Schools Compare, 2009

On Monday, February 2, 2009, RIPEC released its 2009 edition of “How Rhode Island Schools Compare”.  The report, which uses data from the National Education Association, compares education finances in the Ocean State to the other 49 states.Based on the most recent data from the United States Census Bureau, education spending represents the largest expenditure …

2008 Debt and Bond Referenda Analysis

In November, voters will be asked to consider two bond questions that would authorize $89.7 million in new general obligation debt.  This Comments summarizes the proposed referenda and key facts concerning public debt in the Ocean State.  In addition, the report compares Rhode Island’s debt level and bond ratings to those in other states as …

How Rhode Island Compares – National and State Fiscal and Economic Trends

RIPEC’s publication “How Rhode Island Compares, National and State Fiscal and Economic Trends” examines the current state and national fiscal condition and compares Rhode Island to the other states. It also provides an overview of some economic indicators, including unemployment, personal income, energy and housing.  To put the data in a historic context, the appendix …

Results – Education in Rhode Island 2008

The Rhode Island Public Expenditure Council (RIPEC) projects that expenditures to support elementary and secondary education will increase to $2.3 billion by the close of the decade, an increase of 63.5 percent since FY 2000.  RIPEC also projects that the state will spend approximately $16,444 per pupil in FY 2010 compared to $9,086 in FY …

Preliminary Analysis of FY 2008 Deficit

Based on a preliminary audit by the State Controller, the fiscal year 2008 will close with a deficit of $33.6 million. The deficit is a combination of a revenue shortfall of $8.2 million and overspending by State departments totaling $27.0 million. To address this shortfall in FY 2008 and its implications for FY 2009 RIPEC …

How Rhode Island Expenditures Compare, 2008 Edition

RIPEC’s publication How Rhode Island’s State and Local Expenditures Compare – 2008 Edition compares Rhode Island’s expenditures – per $1,000 of personal income and per capita – with those of the other 49 states and the United States average. This year’s report includes data for both fiscal years 2006 and 1996, based on the United …

Summary of Governor’s FY 2009 Budget Request

The proposed FY 2009 general revenue request of $3.3 billion represents a 2.9 percent reduction from the FY 2008 revised supplemental budget.  As presented the budget proposes, for the first time since 1993, a year-over-year reduction in spending.  This is a significant change from previous years and signals recognition of the historic growth of spending.The …

A System at Capacity – Rhode Island’s State and Local Tax System

Today, June 5, 2008, the Rhode Island Public Expenditure Council released an executive summary of “A System at Capacity”, an updated report on Rhode Island’s state and local tax system, which reviews the state’s current tax structure vis-a-vis the national average, Massachusetts, and Connecticut.  The report examines the personal income tax, general sales and excise …

How Rhode Island Revenues Compare, 2008 Edition

On Tuesday, June 3, 2008, RIPEC released its annual report on How Rhode Island Compares, a survey which shows how Rhode Island’s state and local tax burden compares to the other 49 states for fiscal years 1996 and 2006.  This report finds that for every $1,000 of personal income state and local governments in the …

Report on the May 2008 Revenue and Caseload Estimating Conference

This report provides a mid-year update on projected economic indicators and state revenues based on the May 2008 Revenue Estimating Conference. The report also includes a discussion on changes the Caseload Estimating Conference made to Medicaid expenditures and to the state’s projected caseloads for certain social service programs. For FY 2009 the Revenue Estimating Conference …

Proposed Changes to the Revaluation Cycle in Rhode Island, 2008

There are various legislative proposals during this session of the General Assembly to modify the current schedules for both comprehensive revaluations and statistical updates. However, RIPEC believes that decreasing the frequency of property revaluations could result in less equity within and among jurisdictions; reduce the accuracy and reliability of data used to calculate and distribute …

2008 State and Local Tax System Report

Before any changes to the state’s tax policy are made, the impact must be carefully considered, using the most recent data available, to ensure that the resulting state-local tax structure is equitable, fair, balanced and serves to strengthen the state’s economy – in both the short term as well as the long term. Even in …

How Rhode Island School Finances Compare – 2008

On Monday, February 25, 2008, the Rhode Island Public Expenditure Council (RIPEC) released its 2008 edition of “How Rhode Island Schools Compare”, a report that compares education finances in the Ocean State to the other 49 states.  This year’s report includes RIPEC analysis and additional tables which examine the state’s education spending as a percent …

How Rhode Island Expenditures Compare, 2007 Edition

RIPEC’s publication How Rhode Island’s State and Local Expenditures Compare – 2007 Edition compares Rhode Island’s expenditures – per $1,000 of personal income and per capita – with those of the other 49 states and the United States average. This year’s report includes data for both fiscal years 2005 and 1995, based on the United …

November 2007 Revenue and Caseload Estimating Conference

The November 2007 Revenue Estimating Conference projects a current-year revenue shortfall of $113.4 million when compared to the enacted budget and $166.4 million lower revenues in FY 2009 when compared to FY 2008 revised estimates. Coupled with increased state costs for cash and medical assistance programs, out-year budget deficits are projected to be greater than …

Aquidneck Island Management Study – 2007

Today, RIPEC released the results of a six-month study commissioned to forecast revenue and expenditures for Aquidneck Island over the next six years.  RIPEC was asked to prepare a revenue and expenditure forecast of school and municipal expenditures and revenues for Middletown, Newport and Portsmouth in partnership with the AI Advisory Group and Ninigret Partners. …

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