A Network of the National Association of State Treasurers

Navigating the Current Recession

Experts and colleagues will discuss how states are using reserves and other budget adjustments to navigate through the current recession. A rating agency representative will discuss tax revenue volatility, how budgetary performance and adequacy of reserves is evaluated from a state ratings perspective, and common state budget adjustments from a ratings perspective. A representative from the Massachusetts treasurer’s office will discuss recent arrangements to provide extra external credit lines and the commonwealth’s current budget status. California’s state Legislative Analyst will discuss the use of rainy day funds and school aid deferrals to help balance the California budget, while an investor from Blackrock will discuss how state budgetary actions drive bond purchase decisions.