{"id":6106,"date":"2010-03-01t05:33:26","date_gmt":"2010-03-01t09:33:26","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=6106"},"modified":"2024-11-19t21:48:44","modified_gmt":"2024-11-20t02:48:44","slug":"government-accountants-feel-the-heat-of-fiscal-crises","status":"publish","type":"post","link":"\/\/www.g005e.com\/2010\/03\/01\/government-accountants-feel-the-heat-of-fiscal-crises\/","title":{"rendered":"government accountants feel the heat of fiscal crises"},"content":{"rendered":"
how fiscally endangered are your state and local governments? <\/strong><\/p>\n by rick telberg if you think your life is busy and stressful, pause for a moment to consider the lot of today\u2019s accountants in government.<\/p>\n on the one hand, government, in general, is a growth industry in need of more and more sophisticated professionals. on the other hand, state and local governments throughout the nation are facing budget problems every bit as severe as their constituents.<\/p>\n if you\u2019re like many accountants and finance managers, you\u2019re already feeling the effects of the government financial crisis. california was the first to issue ious instead of checks to vendors. but now new york has become the latest in a long list of states that are warning that their tax refunds this year could be delayed.<\/p>\n the new york budget office estimated “hundreds of thousands” of taxpayers would receive refunds a couple of weeks later than normal. last year, new york paid $6 billion in refunds to 6.5 million households. north carolina is delaying refunds. kansans can e-file or wait 16 weeks. hawaii taxpayers may be waiting until july for their refunds. the best an accountant can do is to consider suggesting to clients that they re-figure their withholding.<\/p>\n cpa diane kennedy has studied the problem and created a top ten list of \u201cthe most dangerous states to live in right now, at least fiscally-speaking,\u201d in terms of tax increases, reduced services and delayed refunds.<\/p>\n state and local treasurers and comptrollers are grappling with revenue shortfalls, budget cuts, layoffs, cutting medicaid even as enrollments surge and closing prisons and schools. state budgets have actually declined for the first time since the 1980s and spending increases are expected to lag inflation. the declines have been so rapid that 43 states were still cutting budgets even after their budgets were approved.<\/p>\n
\n<\/em><\/p>\n\n\n
\n the most \u201cfiscally-dangerous\u201d states<\/strong><\/td>\n<\/tr>\n \n \n \n\n
\n 1.<\/td>\n california<\/td>\n 6.<\/td>\n new jersey<\/td>\n<\/tr>\n \n 2.<\/td>\n oklahoma<\/td>\n 7.<\/td>\n new york<\/td>\n<\/tr>\n \n 3.<\/td>\n arizona<\/td>\n 8.<\/td>\n nevada<\/td>\n<\/tr>\n \n 4.<\/td>\n illinois<\/td>\n 9.<\/td>\n colorado<\/td>\n<\/tr>\n \n 5.<\/td>\n hawaii<\/td>\n 10.<\/td>\n michigan<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n \n source: diane kennedy, cpa<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n