The Public Policy Institute to host forum: Municipal Finances: Close to the Cliff

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ALBANY, NY (03/28/2013)(readMedia)-- The Public Policy Institute of New York State, Inc. will be holding a forum on the serious financial pressures facing communities across New York at the Empire State Plaza, Wednesday, May 1, 2013. The Municipal Finances: Close to the Cliff? forum will address rising costs and growing pension and health insurance obligations which are raising serious challenges for municipal budgets, while the slow economic recovery and other factors continue to impact municipal revenues.

The agenda will include commentary from Richard Brodsky, the former New York State Assemblyman and Senior Fellow at Demos and the Wagner School at New York University and E.J. McMahon, Senior Fellow at the Empire Center for New York State Policy.

"Local governments across New York are facing unique and often crippling budget gaps due to the lingering effects of the 2008 economic collapse. This forum will start a conversation about how our state's communities can turn the tide of rising costs and declining revenues," said Heather Briccetti, president of The Public Policy Institute and president and CEO of The Business Council of New York State, Inc. "We have assembled the best group of experts to examine significant reforms that may have to be considered to address these issues."

There will also be information and perspective about municipal deficits, part, present and future, from Todd Miles, Harris Beach PLLC, Public Finance & Economic Development Practice Group, Nathaalie Carey, Assistant State Comptroller and Dottie Johnson, Former Executive Director, Buffalo Financial Stability Authority. Heather Briccettiwill moderate.

According to data from the State Comptroller, more than 100 local governments do not have enough cash to pay 75 percent of current liabilities, and almost 300 localities ended 2010, 2011 or both, with a deficit. Ultimately, cuts in service or increases in taxes will impact residents and the businesses in these distressed communities.

About PPI

The Public Policy Institute of New York State, Inc. is a research and educational organization whose purpose is to formulate and promote public policies that will restore New York's economic competitiveness. The Institute accomplishes this mission by conducting timely, in-depth research addressing key state policy issues. Founded in 1981, and affiliated with The Business Council of New York State, Inc., The Institute is a non-partisan, tax-exempt, 501 (c) (3) organization.