PERU — Townspeople voted 6-16 Tuesday night against taking $32,000 from surplus to cover an overdraft in the municipal budget largely caused by the high level of winter road maintenance. Peru has about 1,200 registered voters. The road commissioner’s portion of the 2017-18 winter budget, $132,000, set to cover 22 weeks of the year, ended […]
deficit
Posted inNation / World, sj-web
Senate GOP struggles with deficit in work on budget, taxes
Treasury Secretary Steven Mnuchin arrives at the Capitol for a closed-door meeting with Senate Majority Leader Mitch McConnell, R-Ky, as they struggle to get a tax code overhaul, in Washington, Tuesday, Sept. 12, 2017. The as-yet-undrafted bill to overhaul the tax code is the top priority for Trump and Republicans after the collapse of their […]
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Federal government expects deficit to rise to $544 billion this year
Data curated by InsideGov WASHINGTON — A government report released Tuesday estimates that this year’s budget deficit will rise to $544 billion, an increase over prior estimates that can be attributed largely to tax cuts and spending increases passed by Congress last month. The estimate from the Congressional Budget Office also sees the economy growing […]
Posted inMaine, sj-web
UMaine System faces $90 million deficit by 2020
PORTLAND, Maine — The University of Maine System is projecting that it will be $90 million in debt by fiscal year 2020 if nothing is done to reduce the costs of operating its seven campuses and central office, according to a report presented at a board of trustees meeting Monday. The report is created by […]
Posted inMaine, sj-web
USM faces $14 million budget shortfall
PORTLAND — University of Southern Maine President Theo Kalikow announced Thursday the school faces a $14 million budget deficit — representing 10 percent of the school’s operating budget — for the coming fiscal year. In a statement released Thursday evening to the Bangor Daily News, Kalikow was not specific about what is causing the budget […]
Posted inMaine, sj-web
LePage says Maine must find $119 million to balance budget
AUGUSTA — Republican and House Minority Leader Kenneth Fredette, R-Newport, said late Monday afternoon that new data show a general fund revenue shortfall of $119 million in the two-year budget that started July 1, 2013, and ends June 30, 2015. The Department of Health and Human Services accounts for the vast majority of the shortfall. […]