Route Fifty: NEW YORK — During a press conference on Thursday at Hunter College, the Volcker Alliance released a report examining and grading the budgeting practices of the 50 states in an effort to show which have effective budgetary procedures and those that fall short.
The report is the result of a multi-year study conducted by the Alliance in partnership with more than 50 professors and graduate students in public finance and budgeting programs at eleven schools of public administration or policy. Opening comments were made by Thomas Ross, the president of the Alliance. Presentations were made by Paul Volcker, former Federal Reserve Board chair; Richard Ravitch, former lieutenant governor of New York and William Glasgall, the Alliance’s director of state and local programs.
States were graded in their procedures in five categories: