Oakland County, Michigan Government’s Post

Mismanagement of your own finances is bad and could cause long-term damage. How about mismanagement of a budget by a city? Your thoughts, what should they do? #MunicipalFinance #PublicDebt #FiscalResponsibility #cnbc #USeconomy

📣 Victorian 2024-25 Budget 📣 Here's our recap of the latest Federal budget for 2024-25, delivered by Treasurer Jim Chalmers on Tuesday, May 14th. There weren't major changes in this budget, with some small measures to help ease the cost of living pressures and student debt changes being the key takeaways. Our team are here to help and provide you with any clarity on the Federal Budget! ☎️ (03) 9374 8400 ☎️ 📧[email protected] #MKSGroup #MoreThanJustNumber #federalbudget #budget2024 #victorianbusiness #vicbusiness #mksgroup #smallbusiness #sme #mooneeponds #mooneevalley #essendonwest #mvcc #smallbiz #australianfinancetips #taxtips #taxtipsandtricks #taxtipsaustralia

In 2023, the Metropolitan Transportation Authority (MTA) of New York faced a significant financial challenge as it collected $636 million less from state real estate taxes than it did in 2022. The downturn in revenue was largely due to decreased commercial real estate sales and mortgage transactions, reflecting broader economic turbulence. This shortfall led to a total real estate tax revenue of $741 million for the year, a stark 46% decline from the $1.4 billion collected in 2022. Despite this setback, the MTA had prepared for a potential decrease in revenue by revising its financial forecasts and was able to maintain balanced books at the year's end, partly thanks to a fiscal rescue package passed by the state Legislature. The impact of the real estate tax revenue decline is significant, as it represents a substantial portion of the MTA’s funding, which is crucial for its operations. The comparison of this loss to the $690 million in fare and toll revenue missed in 2022 due to fare evasion highlights the magnitude of the financial challenge faced by the MTA. However, the state Legislature's intervention with a fiscal rescue package has provided the MTA with a cushion, allowing it to project a stable financial outlook with balanced budgets for the next five years. The MTA's financial health is not only vital for the continued operation of New York's extensive transit system but also reflects the economic well-being of the region as a whole. The agency's reliance on various revenue sources, including real estate taxes, underscores the interconnectedness of the MTA's finances with the broader economic landscape. Officials, including MTA's chief financial officer, Kevin Willens, express cautious optimism for a partial recovery in real estate tax revenue in 2024, indicating the volatile nature of these funding streams. The situation emphasizes the delicate balance required in managing the MTA's finances, with officials and advocates alike stressing the importance of vigilance in monitoring all potential revenue sources to ensure the transit system's resilience against economic fluctuations. #MTAFinancialChallenge #EconomicTurbulence #StateFiscalSupport #TransitFunding #EconomicRecovery #NewYorkEconomy #PublicTransitFinance https://lnkd.in/ebpsDKxH

Today marks the new government's King's Speech, announcing 40 bills to help grow the economy through stability and tackling of the challenges that have slowed growth for some years. At UK Finance we were encouraged to see a government that has listened to us and our members, with a number of bills including measures we have long called for: ✔ A Budget Responsibility Bill: stability and predictability make investment decisions easier for businesses, and in turn help grow the economy. We've long called for this and it's great to see it it reflected in giving the Office for Budget Responsibility a key role in scrutinising tax and spend decisions ahead of fiscal events. ✔ A National Wealth Fund Bill: several of our members are contributing their expertise to help crowd in more private capital into key infrastructure projects. To support this, the government is deploying 7.3 billion of public capital through the UK Infrastructure Bank, recommended by UK Finance. ✔ A Planning and Infrastructure Bill: its no secret planning reform is past due. It's held the UK back for generations. We've recognised this and made it a key part of our platform when speaking to stakeholders about our 'Mobilising Capital for the Net Zero Transition' paper by my colleagues Ian Vijay Bhullar and Agathe Duchiron ✔ A Digital Information and Smart Data Bill: fraud is 40% of all crime in the UK - the single largest form of crime. Our Economic Crime and Payments, Innovation and Resilience teams have made a strong case for digital identification to be used to prevent this and we are thrilled measures to introduce Digital Verification Services will form part of this bill. ✔ A Great British Energy Bill: the net zero transition starts at home and this is the bill that will enable that. Although the detail is yet to be seen, we expect this to be the bill to improve energy efficiencies for our draft housing stock and support the government's Warm Homes Plan. ✔ A Renters’ Rights Bill: introducing greater balance between tenants and landlords is needed. An idea we recommended in our election manifesto is a property portal to give prospective tenants more insight into their potential landlords. It is great to see this measure adopted in today's speech. As ever, the devil will be in the detail and the parliamentary session will be a long one given the volume of legislation to get passed. We're looking forward to engaging the government on this.

Navigating the 2024-25 Australian Federal Budget!💰 Our Fortuna Wealth Management Team breaks down the key initiatives that may impact your finances - from superannuation on parental leave to energy bill relief, student loan reforms, tax changes & more. Read here to learn which elements you should consider in your financial strategies: https://hubs.ly/Q02xRtxJ0 #federalbudget #fortuna #advisory #financialadvisory #budget #finance #planning

Here are several practical strategies for handling finances during the consideration phase of #bankruptcy, including #budgeting and prioritizing expenses.

As we approach the close of Q2 2024, the U.S. budget deficit is making headlines, tracking above estimates despite robust economic growth. The Congressional Budget Office (CBO) recently revised its fiscal 2024 federal budget deficit projection, attributing the increase to various factors, including student loan forgiveness and higher Medicaid expenses. As we look ahead, key data on consumer spending and inflation are due this week. You can read the full document below. #TheStrengthOfAdvice

Here’s 16 things your business needs to know about the 2024-25 federal budget that was handed down by Treasurer Jim Chalmers.

Biden Announces 5% Capital Control on Rent Increases. Why this matters: Capital controls on rents have resulted in real estate collapses in other countries in hyperinflation. - After capital controls are implemented, as the inflation increases, there reaches a nexus point where land lords can no longer extract enough income out of their properties to cover expenses of the properties. Every month that goes buy brings greater and greater losses. Investors dump their properties and this has lead to enormous declines in real estate. https://lnkd.in/gWgdXGPa Real estate initially takes off in hyperinflation but as conditions develop, governments put capital controls on rents while skyrocketing property taxes which squeezes out investors. Widespread squatting occurs leading to real estate purchase power losses of 90%. https://lnkd.in/gFUVdcgK https://lnkd.in/gZdntXUE