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NJ’s Hefty Unfunded Liabilities Matter of Concern to Outside Analysis

The Volcker Alliance began its analysis of the states’ budget policies in 2015, releasing an initial report that scrutinized the fiscal practices of just New Jersey, California, and Virginia. The exercise was then widened, with help from faculty and staff at 11 universities, as well as Massachusetts-based consultant Municipal Market Analytics. The goal, according to the organization’s new report, is to better inform the public about state budgeting matters so they can begin encouraging policymakers to improve transparency and overall performance. Worst practices

“By pursuing this investigation, the Volcker Alliance hopes that drawing attention to prevailing practices — and identifying the strongest and weakest among them — will encourage new efforts to raise standards for all states,” the report said.