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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. …

How Rhode Island Schools Compare – 2007 Edition

On September 4, 2007, the Rhode Island Public Expenditure Council (RIPEC) will release its 2007 edition, How Rhode Island Schools Compare, a report which compares education finances in the Ocean State to the other 49 states.  New to this year’s report is a ten-year comparison on all measures, providing a historical perspective to issues surrounding …

How Rhode Island Revenues Compare – 2007 Edition

On Monday, July 9, RIPEC will release its annual analysis of How Rhode Island Compares, a report which examines the State’s relative ranking position on various taxes and other revenues.  The report uses state and local government finances compiled by the United States Bureau of the Census for fiscal year 2005, the most recent year …

May 2007 Revenue and Caseload Estimating Conference

The May 2007 Revenue Estimating Conference projects a slight increase in revenues of $2.4 million in FY 2007 and a $102.5 million decline in FY 2008 when compared to previous Conference estimates upon which the Governor’s FY 2008 budget request was based. Combined with lower cash assistance and Medical Assistance program expenditures, the May 2007 …

Businesses’ Share of State and Local Taxes

Businesses in Rhode Island paid 46.0 percent of total state and local taxes according to a study published by Ernst & Young in conjunction with the Council on State Taxes. This RIPEC Comments analyzes the state and local taxes paid by businesses in the Ocean State and compares those tax payments to Massachusetts and Connecticut, …

Summary of Governor’s FY 2008 Budget Request

Today RIPEC released a report encouraging an Investment-Based Budgeting process as a response to the proposed FY 2008 State Budget. The report provides a series of goals that RIPEC’s proposed Fiscal Get Well Plan incorporates. The goals of this plan include: A Three to Five Year Binding Cap on State Spending Growth. The Governor proposed …

Property Tax Revaluation Cycle

Today, RIPEC released a study on revaluation of property in the Ocean State. Periodic revaluation of property is an effort to provide fairness in the process by changing assessments to reflect current values. Revaluations are a necessary process to address the reality that properties appreciate and depreciate at different rates. During the recent period of …

Funding our Future – An Approach to Fund Education in RI

Rhode Island has not had a predictable school aid formula since the mid-1990s. For over a decade, policy makers have struggled to develop and enact an education funding formula that insures school students, school districts and taxpayers, adequacy, predictability and fairness.  As far back as the Swearer Commission report in the 1970s, state education leaders …

Interim Report of the Medicaid Study Group

In order to deliver high-quality care in a cost-effective manner, Governor Donald L. Carcieri established a Medicaid Study Group, with RIPEC’s assistance, to propose options for a sustainable and fiscally responsible Medicaid program and improving effectiveness and efficiency.  The Study Group consisted of 26 members, representing provider groups, representatives from State government and RIPEC members. …

2006 Debt and Bond Referenda Analysis

With voters being asked to consider six bond questions that would authorize $229.3 million in new general obligation debt, this issue of RIPEC Comments summarizes the proposed referenda and key facts concerning public debt in the Ocean State. The following report reviews general obligation bonds, Rhode Island’s debt levels, debt service and general revenue, debt …

RIPEC Urges Passage of Question Three

RIPEC commends the General Assembly for proposing a Constitutional Amendment to further limit State spending and to enhance the State’s Budget Reserve Fund.  The proposal would limit State spending to 97% of the estimated revenues from all sources, with the balance to be deposited into a budget reserve account that can total no more than …

Impact of the Streamlined Sales Tax Project on RI

In May 2000 RIPEC’s report, “A System Out of Balance – Rhode Island’s State and Local Tax System” urged that the Governor, General Assembly and private sector to support the efforts of the National Governors’ Association and others to streamline collections for state sales and use taxes in order to simplify the system and maintain …

How Rhode Island Revenues Compare – 2006 Edition

On Tuesday, June 20, 2006, RIPEC will release its annual report, How Rhode Island Compares – 2006 Edition.  This RIPEC report shows how Rhode Island’s state and local tax burden compares to the other 49 states both on a per capita basis and per $1,000 of personal income.  This data is based on the most …

Cost-effective Schools for the 21st Century

On June 7, 2006, the Rhode Island Public Expenditure Council (RIPEC) and the Rhode Island Association of School Committees (RIASC) released a joint report entitled “Cost-effective Schools for the 21st Century- Consolidation and Collaboration Revisited”.  RIPEC and RIASC prepared this report to provide decision-makers with information when considering issues of district regionalization, consolidation, and collaboration …

2006 Property Tax Burdens in the Ocean State

Property taxes are creating financial hardships for many Rhode Island families – especially those on fixed incomes and those trying to purchase their first home. A recent poll commissioned by RIPEC asked “which tax (property, income or sales) would you want to see permanently reduced?”  Nearly 58.0 percent of respondents said the property tax. The …

Taxes and Jobs – Do High Marginal Rates Make a Difference?

On April 24, 2006, RIPEC released a report examining the state’s current income tax structure in order to answer the following question: Do high marginal income tax rates make a difference in attracting jobs to the Ocean State and retaining high income residents?   The House leadership has introduced legislation that would reduce the state’s …

Summary of the Governor’s FY 2007 Budget Request

The proposed FY 2007 general revenue request of $3.2 billion represents a 1.0 percent increase from the FY 2006 Revised Budget. If one adjusts this for deferring uncompensated care payments and converting a portion of the Judiciary budget to restricted receipts, the Governor’s budget would increase by 3.3 percent over FY 2006. The following RIPEC …

2006 50-State Property Tax Comparison

This RIPEC report summarizes the findings of a property tax burden comparison among the fifty states developed in partnership with the National Taxpayers Conference – a national, nonprofit corporation whose members are devoted to the pursuit of objective analysis of public finance issues.  The study surveys 53 urban and 50 rural cities across the United …

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