Keywords: Massachusetts, Ordinance, Adopting the Budget, types Description: The Massachusetts Ordinance Adopting the Budget is a legislative measure that outlines the process and procedures for approving and implementing the state's budget for a fiscal year. It is a crucial component of the state's financial management system and ensures the allocation of funds to various government programs, services, and initiatives. The ordinance serves as a blueprint for Massachusetts government's financial planning and policy implementation. There are different types of Massachusetts Ordinance Adopting the Budget, each serving a specific purpose: 1. Annual Budget Ordinance: This type of ordinance is introduced annually and is responsible for setting the financial priorities of the state for the upcoming fiscal year. It includes revenue projections, proposed spending allocations, and expenditure limits for different departments and agencies. 2. Supplemental Budget Ordinance: Sometimes, the state may require additional funding during the fiscal year due to unforeseen circumstances or urgent priorities. In such cases, a supplemental budget ordinance is introduced to allocate additional funds or modify existing budgetary allocations to address the emerging needs. 3. Capital Budget Ordinance: A capital budget ordinance focuses on long-term infrastructure projects, such as transportation systems, public buildings, and other major investments. It outlines the funding sources and priorities for capital projects and provides a framework for planning and executing these initiatives. 4. Operating Budget Ordinance: The operating budget ordinance covers the day-to-day expenses of state agencies and organizations. It includes personnel costs, administrative expenses, and various programmatic expenditures necessary for the functioning of government entities. 5. Debt Service Budget Ordinance: A debt service budget ordinance is dedicated to managing and paying off the state's outstanding debts, such as bonds or loans. It determines the repayment plan and associated interest costs, ensuring prudent management of the state's financial obligations. The Massachusetts Ordinance Adopting the Budget evolves through a detailed legislative process, involving budget hearings, committee reviews, public input, and ultimately, a vote by the state legislature. This collaborative approach ensures transparency, accountability, and the efficient allocation of public resources for the benefit of the residents and various stakeholders of Massachusetts.
Massachusetts Ordinance Adopting the Budget
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Massachusetts's budget basics ing to the National Association of State Budget Officers (NASBO), Massachusetts's total expenditures in fiscal year (FY) 2022 were $74.0 billion, including general funds, other state funds, bonds, and federal funds.
Maura Healey today signed a $55.98 billion state budget for Fiscal Year 2024 (FY24), making historic investments in schools, child care, workforce development, public transit, housing, climate resiliency and other key areas that will help make Massachusetts more affordable, competitive and equitable.
House and Senate leaders reach $2.8 billion budget deal, but Republicans block vote. Massachusetts Democratic leaders said they agreed to a roughly $2.8 billion supplemental budget framework Thursday, including $250 million for the state's overburdened family shelter system.
Governor Healey signed the Fiscal Year 2024 (FY24) Budget on August 9, 2023.
Chapter 28 Revenue SourceAll Budgeted FundsOther Major FundsDepartmental Revenues$6,127.5$191.7Consolidated Transfers$4,290.0$1,573.0Total Non-Tax Revenue$24,152.8$1,773.3Fiscal Year 2024 Grand Total$56,551.0$1,774.241 more rows
The Executive and Legislative branches each submit their own budget recommendations, beginning with the Governor (published as H. 1 or H. 2), followed by the House, and then finally by the Senate.
Maura Healey today signed a $55.98 billion state budget for Fiscal Year 2024 (FY24), making historic investments in schools, child care, workforce development, public transit, housing, climate resiliency and other key areas that will help make Massachusetts more affordable, competitive and equitable.
Under G.L. c. 44, § 32, any item in the mayor's proposed annual budget that the city council has not voted, within 45 days of its receipt of the budget, to approve, reduce or reject takes effect as the appropriation for that purpose for the fiscal year.