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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. …

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 …

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