Latest news with #RainyDayFund
Yahoo
16-05-2025
- Business
- Yahoo
Speaker proposes tapping Rainy Day Fund for extra pay for teachers in hard-to-fill positions
Assembly Speaker Steve Yeager during the State of the State address at the Nevada State Capital in Carson City, Nev. on January 15, 2025. (Photo: Richard Bednarski/Nevada Current) Nevada Assembly Speaker Steve Yeager is proposing the state tap into the Rainy Day Fund to provide additional pay for public school district teachers in hard-to-fill positions, citing the success similar funding provided two years ago had on the Clark County School District. The Las Vegas Democrat is also proposing a mechanism to provide charter schools with dedicated funding for broader teacher and support staff raises, making good on a commitment to try and extend to them what they were denied by the Legislature two years ago. The policy proposal to provide an additional $5,000 per year in pay for district teachers at low-income schools and in critical areas was well received by the Assembly Ways and Means Committee during a hearing Thursday. As was the proposal to establish a mechanism for broader teacher and support staff raises at charter schools. But the proposed funding mechanism included within the bill — taking $90 million out of the state's fully funded $1.3 billion Rainy Day Fund — may be a sticking point. Yeager acknowledged it's 'a serious request' that will raise concern and discontent. 'I do think it's accurate to say that it is already rainy and has been raining when it comes to filling hard-to-fill positions,' he continued. 'If we're being honest with ourselves, things are only likely to get worse when it comes to education and education funding given what's happening at the federal level at the moment. So, I believe this is a good use of the funds.' Democratic Assemblymember Daniele Monroe-Moreno, who chairs the Ways and Means Committee, in the meeting said she was 'not in agreement' with the funding component of Yeager's bill but said she would work to find an appropriate source of funding. 'I don't think we have an answer for that today,' she added. Monroe-Moreno, who is also chair of the Nevada State Democratic Party, did not elaborate, but Democrats this entire legislative session have warned that an economic downturn and budget cuts at the federal level may force the state to tap the Rainy Day Fund in order to maintain important services. Yeager's proposal, Assembly Bill 398, would provide up to $90 million in differential pay across two years for public school district teachers in positions deemed hard to fill. To qualify for the differential pay, teachers would have to work at a Title-1 school with a high vacancy rate, defined as 10% at the elementary level, 12% at the middle school level, and 15% at the high school level. Or they would have to work in an area that has been deemed to have a 'critical labor shortage' — English language arts, math, science, or special education. The Clark County Education Association and CCSD dedicated similar differential pay using an infusion of funding approved by the 2023 Legislature. According to Clark County Education Association Executive Director John Vellardita, who presented the bill alongside Yeager, the results were a resounding success. Vellardita said Title-1 schools that qualified for the differential pay in 2023 saw a 53% reduction in vacancies, from 1,346 vacancies in May 2024 to 633 in January 2025. Special education positions saw an 84% reduction, from 310 vacancies in August 2024 to 50 in March 2025. That progress toward getting a qualified teacher in every classroom needs sustained investments, he added. 'It has made a difference. We're asking for this to continue.' CCEA Vice President Matt Nighswonger said during support testimony that the additional funding helps with teacher retention by incentivizing them to stay in positions that need the most experienced teachers. 'Teachers often view these positions as a stepping stone to a different school or a one-year teaching assignment to demonstrate they are a quality teacher,' he said. 'Once they have demonstrated their prowess, they move on to a school in the suburban ring or to subjects that are not as demanding to teach.' AB398 funding for educators would be available for all 17 Nevada school districts. But Yeager acknowledged that charter school teachers and education support professionals at both charter and district schools would not be eligible for the hard-to-fill position pay. 'Were our financial situation better, I might have made a different decision,' he said. 'A future legislature can always decide to include them, but I didn't believe it would be fiscally responsible for me to include them now. I don't want to spread the funding too thin so that it doesn't work and achieve the objective of actually filling these hard-to-fill positions.' The Nevada State Education Association, whose affiliate units include teachers in non-Clark counties and support staff in CCSD, opposes the bill on the grounds it excludes education support personnel who are just as hands-on and vital to student success. Teamsters Local 14, which represents bus drivers and some other support staff within CCSD, similarly opposed the bill. The Charter School Association of Nevada, Nevada Association of School Boards and Nevada Association of School Superintendents, as well as Clark and Washoe school districts, support the legislation. Support from the charter school community was due to a conceptual amendment establishing a statewide fund that charter schools could tap to help with raises for their teachers and support staff. Yeager said the idea is to create a system similar to 2023's Senate Bill 231, which provided $250 million in funding for teachers and support staff at public school districts. The budget committee last week approved an education budget that makes permanent those SB231 raises. Republican Gov. Joe Lombardo's recommended budget had charter school raises being similarly baked into the education budget, but Democrats rejected that recommendation, saying charter school raises needed to be handled separately. That prompted Lombardo to publicly threaten to veto the education budget. 'I've been clear and consistent on this,' Lombardo said in a statement issued last week. 'I will not sign an education budget that does not include equal pay for public charter school teachers and make teacher pay raises, including those for charter school teachers, permanent.' Yeager's AB398 provides a possible solution to charter school raises. Charter schools, likely collectively through their authorizing agency, the Nevada State Public Charter School Authority, would have to request the funds from the Interim Finance Committee, which makes financial decisions when the legislature is not in session. The schools would also have to match the funding, a requirement of 2023's SB 231. The governor's office did not respond to the Nevada Current's request for comment on Yeager's proposal and whether it satisfies his requirement for equal pay for charter school teachers. The current legislative session must end on June 2, leaving less than three weeks for lawmakers to pass a balanced budget that the governor will sign. In 2023, legislators failed to do so, which forced a 1-day special session.
American Press
07-05-2025
- Business
- American Press
Teacher stipends survive committee, could be headed to House floor for a vote
By Nolan McKendry | The Center Square Louisiana lawmakers are moving forward this week with a more targeted version of the defeated Amendment 2, which voters rejected in March for being overly complex and far-reaching. On Monday, the House Civil Law and Procedure Committee advanced House Bill 678, a pared-down constitutional amendment that focuses solely on consolidating the state's two primary savings accounts and a companion bill that would fund $2,000 stipends for the state's teachers. HB678, which passed without objection, is a substitute for the original HB472 and is a central piece of lawmakers' effort to revive key elements of the failed 130-page rewrite of Article VII. The new version is significantly shorter — just five pages of actual bill language and three pages of digest — and is framed as a 'single-issue' measure. 'This particular amendment—of course when I first drafted it—it was still part of the Article VII rewrite, which was very, very lengthy,' Rep. Julie Emerson, R-Carencro, told the committee. 'But we always intended on making it smaller. I was just trying to meet the bill filing deadlines. In Ways and Means, we amended it down to just the fund combination.' The proposed amendment would merge the Budget Stabilization Fund (commonly known as the Rainy Day Fund) with the Revenue Stabilization Trust Fund, and repeal the latter. It would also eliminate current caps on mineral revenues flowing into the general fund, thereby potentially increasing recurring revenue for the state. 'If you remember in Amendment 2, we were combining our two savings accounts,' Emerson said. 'This is the statutory companion. This allows us to grow that fund to about $3 billion. It's a single issue. I would say pretty simple, but obviously, it's a little bit legal — talking about Revenue Stabilization and Budget Stabilization — but that is exactly what the language says we're doing.' The amendment proposes changes to several sections of Article VII of the state constitution and would go before voters on Nov. 3, 2026, a date chosen to coincide with a high-turnout election cycle. The measure is part of a broader effort to revive fiscal reforms contained in the failed March amendment, but this time through standalone bills to avoid overwhelming voters. A companion bill, HB473, which also passed committee without objection, would reallocate savings generated by HB678 to pay down the state's unfunded liabilities in the Teachers Retirement System of Louisiana. That move is intended to eventually fund $2,000 stipends for teachers —though those payments would not arrive until November 2026 at the earliest.
New York Post
01-05-2025
- Business
- New York Post
Adams' $115B ‘Best Budget Ever' is chocked full of freebies fit for an election year — but critics say it doesn't prepare NYC for the worst
The 'Best Budget Ever' may not prepare for the worst. Mayor Eric Adams served up a $115 billion election year spending plan Thursday that's stuffed with voter-pleasing goodies, but that was still slammed by critics for squirreling away relatively little for a rainy day. Hizzoner, who faces an uphill re-election battle, unveiled his 2026 executive budget during a campaign-like event from his alma mater Bayside High School in Queens, rather than City Hall, from which such announcements have traditionally been done. Advertisement 'This is not a budget that favors the few. It is budget for all of you,' Adams said, while flanked by students. 'In fact, it is no exaggeration to say that our fiscal Year 2026 executive budget is the best budget ever.' The budget lavishes $1.4 billion on programs and services that had faced cuts — such as libraries, early child education and the City University of New York. It also launches a universal after-school program and increases education funding by $376 million. Advertisement The spending plan is the largest Adams has proposed since taking office in 2022, with last year's executive budget proposal coming in at $111.6 billion. 'Welcome to the election year!' said veteran campaign strategist Hank Sheinkopf, adding that incumbent mayors usually throw caution to the wind when seeking a second term. 'An election year means living in the moment. Tomorrow, next year is a long time away,' Sheinkopf told The Post. 'It's 'spend whatever we can now.' It's like a bank robbery.' 3 Mayor Eric Adams unveiled his proposed 2026 budget during a campaign-style event Thursday. Stephen Yang Advertisement 3 Adams held the event in Bayside High School, his alma mater. Stephen Yang Critics quickly pounced on Adams seemingly failing to plan for the possibility of tough economic times in the near future, from President Trump's tariffs, a widely anticipated upcoming recession and potential federal funding cuts. 'Despite being flush with cash, Mayor Eric Adams' Fiscal Year 2026 Executive Budget fails to address the dual threats of looming federal budget cuts and a possible recession,' said Andrew Rein, president of the nonpartisan fiscal watchdog group Citizens Budget Commission. 'Instead of wisely adding $1 billion in next year's General Reserve to soften the first blows of federal cuts and $2 billion to the Rainy Day Fund, the budget increases spending to an unaffordable level.' Advertisement Rein said the city should have between $8 and $10 billion in reserves for potential choppy economic waters — a sum that city budget Director Jacques Jiha agreed would be needed, if the Big Apple were in a 'doomsday' scenario. 'We're not looking at doomsday, we're looking at a slowdown in the economy,' he said. 'We believe we have adequate reserves.' Adams' preliminary budget, released in January, was blasted by opponents, including in the progressive City Council, for needlessly cutting services. But his administration maintained those slashes were necessary due to skyrocketing costs from the migrant crisis — which Jiha said has now cost the city more than $7 billion. The mayor had begged Albany lawmakers in February for $1.1 billion to deal with the migrant crisis, contending then that the city needed it in 12 weeks. City Hall officials offered nary a peep about the ask since then — and the supposed shortfall apparently has been covered by savings, with Jiha saying only 'Money is fungible' as an explanation. The budget announced Thursday is Adams' first since the crisis largely subsided, and includes these spending increases and reversed cuts: Advertisement $15.7 million for libraries $96 million restoring CUNY savings $298 million for school nurses An overall near-$18 million increase to the parks budget $92 million in annual funding for citywide 3-K $20 million for new universal after-school programs A $3 billion contribution for the MTA's capital plan 'Adams is using this budget to promote his re-election. He doesn't want to have much of a fight with the council,' said Nicole Gelinas, senior fellow at the conservative think tank the Manhattan Institute. 'It's pre-emptive capitulation to the council,' she added, noting Adams was proposing $1.7 billion more in spending compared to his preliminary budget. 'Adams is blowing out the agency spending,' Gelinas said. '[He] is squandering the last of his budget credibility.' Advertisement Not all programs and departments saw a funding increase. The following budget cuts were included in the plan: $308 million for NYPD $111 million for FDNY $1.57 billion for Department of Social Services $1.19 billion for Health + Hospitals $840 million for Department of Homeless Services $801 million for Administration for Children's Services Talks with City Council Speaker Adrienne Adams, who is not related to Hizzoner and is running for the Democratic mayoral nomination, will continue until the June 30 deadline to pass the budget. Adams' plan offered plenty of fodder from candidates hoping to boot him from Gracie Mansion, such as City Comptroller Brad Lander — who claimed the mayor was 'failing to protect New Yorkers' by not putting more cash in reserves. Advertisement Former city comptroller and current mayoral candidate Scott Stringer also blasted Adams for failing to prepare for a potential 'extraordinary loss of funding for New York City.' Adrienne Adams offered less gloom and doom — though she still cautioned against getting too comfortable. 'I think that the budget right now is good, but we can never be too certain about what is coming around the corner with this Trump administration,' she said. Adams, who boasted of confronting then-President Joe Biden for migrant funding, hasn't been nearly as vocal about his growing ally Trump. Advertisement 3 Adams brushed off concerns about economic turmoil. Stephen Yang He said he hasn't been in contact with the White House, even as he acknowledged that the current global climate was creating 'uncharted waters.' Adams' top deputy, however, was quick to put a positive spin on the potential financial woes. 'We are best positioned to address with Washington those issues going forward,' said First Deputy Mayor Randy Mastro. 'Even asking a question about a doomsday scenario is to be with those pessimistic and political opportunists who don't bet on New York, who are saying, 'The sky is falling.' 'The sky isn't falling.'
RTÉ News
29-04-2025
- Business
- RTÉ News
5 things to stop buying to save money fast
When it comes to saving, as Ringo Starr once sang, "it don't come easy", but any bit of extra money you can save from now on will be worth the short-term pain. You can never have enough savings. Ideally, you should have between three and six months' net annual joint income in a Rainy Day Fund (RDF) for those emergencies (your clutch goes), sudden loss of income (no bonus this year) or that investment opportunity (buying a Le Broquy for half nothing). So what's the easiest way to save? Spend less! It doesn't have to be difficult – one of the biggest stumbling blocks people meet arises as a result of setting unrealistic goals. You don't need to go without your day-to-day essentials in order to save money, but tightening up what meets your definition of "essential" can certainly help. Here, John Lowe of identifies five things you can feasibly go without today, to help you save money fast. 1. The daily coffee It's the number one recommendation when conversations like this arise. If you're spending €3 each workday morning on a takeaway coffee, that's €65 per month – or over €780 per annum or €1,600 per annum gross. To earn that, if you are a top-rate taxpayer, you would have to earn over €134 per month gross, and that's just for the coffee! Consider getting your caffeine fix at home and taking it with you in a travel mug. If you really can't sacrifice your daily café trip, at the very least, bring a keep cup – many places now offer discounts to people who don't require a disposable coffee cup. 2. Bottled water In a similar vein as above, but a much easier option: there should be no need to buy bottled water in Ireland – it's one of the biggest marketing coups of all time! Invest in a safe, reusable bottle or canister and drink tap water to your heart's content. Ask for tap water in restaurants – it's fashionable and cheaper! 3. Takeaways With services like Deliveroo and JustEat, you can get anything to eat, from anywhere in your locality, without leaving your chair. Takeaway food has become easier and easier to source – and to rely on. Of course, it's nice to treat yourself on a Friday, but takeaways are not the cheap option they once were, nor are they the healthiest. Set yourself the challenge of cooking in batches and preparing your health-driven meals at the weekend – and see how much money you save, not to mention your health. 4. New clothes This is obviously a short-term fix: can you go without adding to your wardrobe between now and the end of the year? If I had to join a retail store sales queue in Dublin, especially at Christmas time, I think I would be happy with what I have! Only buy what you need – how many of us, including myself, have clothes in our wardrobes that have not been worn for years? 5. Get ruthless about the weekly/monthly shop If you know how much you usually spend on grocery shopping, make a note of it. If not, take a look back at your recent receipts. Then cut that figure by 10 per cent and stick to it. If that means buying own-brand products, switching to a discount shop for certain items like household cleaning, or cutting out unnecessary purchases like sugary snacks or drinks, so be it. Then, commit to making a list before stepping into your local supermarket. Be strict with yourself: if it's not on the list, it doesn't go in the trolley. I guarantee you will save money. There are many other ways to save money, but whatever you do, start.
Yahoo
16-04-2025
- Politics
- Yahoo
Fairhope Mayor Sherry Sullivan seeks second term
FAIRHOPE, Ala. (WKRG) — Fairhope Mayor Sherry Sullivan said she will seek another term. From addiction to hope: Meet Fairhope's Dancing Queen 'When I decided to run for mayor in 2020, I made a commitment to restore respect and civility to our city government, create a stable work environment for the employees and focus on growth and infrastructure, and I feel that we are making Fairhope better than ever,' Sullivan said. Sullivan noted the many accomplishments during her term as mayor, including: More than $60 million in infrastructure investments and improvements, including drainage projects, traffic improvements, electric substation upgrades, replacing outdated cast-iron lines in the city's gas system, underground electric projects, sewage lift station upgrades and new water wells and lines; Worked with the city staff and council to put in place moratoriums and ordinances in an effort to control growth; Helped develop an updated comprehensive plan for the city; Invested more than $5 million in an effort to recruit and retain high-quality city employees; Added new recreational opportunities including four new baseball fields, a new track, new restroom facilities, new pickleball courts, Quail Creek Golf Course updates and planned expansions and upgrades to the Mike Ford Tennis Center and Barnwell Football Complex; and Increased the city's Rainy Day Fund by $3 million while maintaining low debt limits and obligations. Saraland man accused of leaving state after unfinished work 'With all of our great City employees and with a solid City Council, the past five years have shown that we can make a positive difference. It takes all of us working together to make things work well, and I want to continue to be the leader of that team by serving as your mayor for the next four years,' Sullivan said. She said public safety has been a top concern and will remain that way if she is elected. 'In the last five years, we have opened a temporary police precinct on Highway 98 and will start a permanent facility next year,' Sullivan said. 'We have new fire trucks that will be added to our fleet next year and have already located and secured land for a much-needed new fire station on Highway 181. Public safety is the most important part of what government should do, and I am proud of our police department and our fire department for how they serve and protect our wonderful city.' Sullivan noted 'quality-of-life projects' that have taken place or are planned. 'I am excited that we will officially open the first phase of the Flying Creek Nature Preserve and John Martin Nature Center and break ground on our renovation of the historic K-1 Center property this summer, and we will also do the dedication of the newly revamped Pier Park and Rose Garden area later this year,' she said. Despite all the accomplishments she said have been made during her first term as mayor, there is still a lot to be done. 'There is still work to do – we still have water wells and tanks to build, more cast iron to replace and more recreation facilities to construct,' Sullivan said. 'And I think people will agree that four more years will only make Fairhope even better than it is today. I ran to make a difference and to leave my hometown and OUR HOME better than I found it, and I know we are doing just that.' 3 people killed in multi-motorcycle crash in Wilmer: ALEA Sullivan will host a re-election campaign kickoff Wednesday, April 30, from 4:30 to 6:30 p.m. at Provision in downtown Fairhope. The public is invited. For more information on Sullivan's re-election campaign or to get involved, email info@ Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
