Michael Frattali’s Post

This is nothing to do with public spending and budgets.

MCTS as canary in the coalmine? Some sharp insights here re: ongoing county budget problems

"Show me your budget and I'll show you your values." Portland's Mayor just announced his FY '24-25 budget, and we're excited about some major wins for Pregame HQ clients and all Portlanders, including: 1. Portland Street Response: FUNDED. 1a. Portland Fire & Rescue: funding that mitigates future financial risk. 2. Portland Clean Energy Fund: partnerships with other bureaus invests meaningfully in climate resiliency while maintaining their core mission. 3. Portland Bureau of Transportation: Please vote YES on the Fuel Tax renewal on your May ballot. If you want those potholes filled and the streets looking fly, we can't take away their funding. 4. SMALL BUSINESS! Finally.... establishment of the Office of Small Business. Let's hope they staff this team with the RIGHT people who truly understand the needs of entrepreneurs and small businesses, not just shuffling long-time staffers or those with the attitude of what *can't* be done. This office needs a hustle and result-oriented mentality. PS - note to City comms - optimize these videos for the people, not the press. Retitle suggestion: "Portland Mayor Ted Wheeler Announces City Budget for 2024-2025 Fiscal Year" https://lnkd.in/gxqYQkHU Stephen Green Kimberly Branam Carmen Caballero Rubio Sam Baraso Megan Horst Stephanie Howard Shea Flaherty Betin Chabre Vickers Millicent D Williams

The County Revenue allocation hits the 400B mark for the first time since the advent of devolution. While this is highly commendable, delays in disbursing funds in the past is still a pertinent concern. These delays have had significant negative effects on service delivery and budget absorption. The National Treasury and other stakeholders should implement measures to ensure this trend is reversed. Click on this link to read more on our 2024 Budget Bulletin Analysis : https://ow.ly/zgP850SkACl

I wrote about the perilous state of Council finances at the start of the year and it appears things have only gotten worse. 19 received a financial bailout in the last financial year. A quarter are warning they will need a bailout this year, rising to 44% when looking at the next two financial years. Social care, SEND and homelessness are the biggest financial challenges, resulting in cuts to most other Council services. I fear the Government has neither the bold plan or the political space needed to deliver the type of fundamental funding reform Council's need to be sustainable over the long term. Just one of many significant financial challenges facing the Chancellor ahead of next week's Budget. https://lnkd.in/eSqxbq_R

As you navigate #ChiBudget hearings, OIG’s City Finances dashboards allow you to explore the City’s budget appropriation details by department, type of fund, services, and fiscal year. Dive in here https://lnkd.in/g4ag34ut.

#Property News! Rapleys experts react to the Chancellor's Budget Mat Shenton, Partner and Head of New Homes at Rapleys said: "Despite our experts hoping for stamp duty cuts and first time buyers' support, and a review of support for Affordable Housing, these were all sadly missing in action from the budget. The only mention of housing other than supporting investment via CGT cuts, was the reemphasis on brownfield development in the PMQs beforehand. Although funding has been promised to 'unlock' brownfield sites, there is no information about how this will work and it is concerning that this is the only housing announcement to stimulate delivery when we are grossly behind on targets for all types of housing across the UK." Click here to read more -> https://bit.ly/3TradHF -> Kieran Rushe, Simon Harbour, Richard Curry -> #SpringBudget #SpringBudget2024 #UKNewsGroup #London

Hot off the presses! Two New York City Independent Budget Office reports are out today: 📊 IBO’s analysis of the Mayor’s Executive Budget and economic and revenue forecasts show that the City’s fiscal health looks good for this fiscal year and next: IBO’s projected surplus for this year is $5 billion and for next year is $1 billion. The Administration’s tax revenue forecast, which was much more dire back in November, have come up substantially to match IBO’s levels all along (check out page 5). Check out the full report: https://bit.ly/3K2N1Kk 🌎 IBO’s updated cost scenarios for asylum seeker services remain lower than the Administration’s estimates due to differences in population estimates, partly as a result of the City’s exit requirements out of shelter for adults. New in this report, are estimates of the negative consequences of these exit policies that may be felt by not only the individuals forced to exit but also the larger NYC community, shifting the narrative from the Administration’s presentation of the policies as pure cost savers. Some negative consequences IBO includes are: 1. 💵 The opportunity cost of not receiving work authorizations. 2. 🏥 The potential healthcare costs associated with street homelessness 3. 🚌 The additional cost of busing students to their school from potentially farther locations. Check out the full report: https://bit.ly/4anGlRZ

The 2024 City Fiscal Conditions report from the National League of Cities (NLC) reveals that municipalities are making the necessary shifts to continue to meet the fiscal needs of their community and are prepared for the loss of ARPA funds.

The new Chancellor Rachel Reeves has delivered her first speech and it seems clear that the new government has planning reform firmly in its sights. Rebecca Crosdil, takes a look at what you should be looking out for in the next few weeks and months. #PlanningReform #InfrastructureDevelopment #HousingTargets