There should be no doubt that late budgets cause problems, though not the problems cited by Moody’s. For example, Moody’s worried that local governments would not receive monthly payments. The Commonwealth’s interim budget legislation is brief (less than 250 words), but it authorizes local aid payments explicitly. The state’s debt payments, another potential concern, are already fast-tracked by the state constitution and have little risk of going unpaid.
July 10, 2019
Budget
Late budget isn't a ‘governance weakness’
There should be no doubt that late budgets cause problems, though not the problems cited by Moody’s. For example, Moody’s worried that local governments would not receive monthly payments. The Commonwealth’s interim budget legislation is brief (less than 250 words), but it authorizes local aid payments explicitly. The state’s debt payments, another potential concern, are already fast-tracked by the state constitution and have little risk of going unpaid.
