Tagged: budget

Mayor Gatsas unveiled his budget for fiscal year 2014, which raises taxes and allots more funding to schools.

Gatsas' budget pushes for the maximum amount of new revenue allowed under the city's tax cap. That's just more than a two-percent increase.

The bulk of new revenue would go towards bolstering the city's school system, which has experienced layoffs and overcrowding in recent years.

Gatsas was optimistic that the budget could be hammered out before the city's June deadline, but acknowledged it would be a difficult process:

With a new governor, a divided statehouse, and continued uncertainty over federal spending, New Hampshire lawmakers are preparing to hammer out a budget.  It’s never a particularly easy process.  But hopes are high at the statehouse that this session, the inevitable fiscal fights will be more muted.

In her inaugural address earlier this month, Democratic governor Maggie Hassan struck a bipartisan tone about the state’s finances.

New Hampshire's treasurer is urging lawmakers to limit borrowing for public works projects supported by state taxes in the next capital budget to $125 million.

The Department of Health and Human Services is asking for $321 million more to cover their programs for the next two years.   

The University System of New Hampshire is asking lawmakers for $100 million dollars in annual state funding.

That’s more than twice what they were given in the previous budget.

Heads of the various state departments, and the presidents of the state’s universities went before budget writers today to present their initial requests for state funds.

Chancellor of the University System, Ed McKay, says he is cautiously optimistic that governor elect Maggie Hassan will make restoring the cuts from the last budget a priority.

The most recent State budget slashed funding for legal services for the poor. Last week, the House passed a bill that would put even more aid at risk.

The legislation would change how something called IOLTA works.

IOLTA stands for ‘Interest on Lawyers Trust Accounts’.

When a client hands money over to a lawyer for a short period of time, say, while a real estate deal is being closed, the lawyer puts the money into a pooled account. That account earns interest.