State Revenue Outlook 2013 and Beyond

2012 National Conference

CSG Fiscal Forum
State Revenue Outlook 2013 and Beyond
December 3, 2012

While state revenues are rebounding from the Great Recession, the budget situation in many states is still volatile. States also continue to grapple with devising strategies to enhance the funding position of their public pension plans. Attendees heard fiscal experts describe policy options available to state policymakers to help smooth out the unevenness in state revenue inflows and evaluate efforts to bolster public pension plans.
 

Rick Mattoon, senior economist and economic adviser with the Federal Reserve Bank of Chicago, and Scott Pattison, executive director at the National Association of State Budget Officers, shared their insights on revenue volatility and the state revenue outlook for 2013 and beyond. Keith Brainard, director of research at the National Association of State Retirement Administrators, provided details on the public pension reforms enacted in 2012.

Speakers and Presentations:

  Moderator: Rep. Maxine Bell, Idaho

  Keith Brainard, Director of Research, National Association of State Retirement Administrators

  "An Overview of State and Local Pension Issues"

  Rick Mattoon, Senior Economist and Economic Adviser, Federal Reserve Bank of Chicago

  "Revenue Cyclicality and State Policy Options"

  Scott Pattison, Executive Director, National Association of State Budget Officers

  "State Fiscal Outlook"

 Ingrid Vanderveldt, Entrepreneur in Residence, Dell

Speaker Biographies:

Rep. Maxine Bell
Maxine Bell chairs the Idaho House of Representatives Appropriations Committee.  She’s currently serving her 12th term in the Legislature, House District 26, which is comprised of Jerome and Minidoka counties.  Bell was born in Logan, Utah.  She’s married to H. Jack Bell.  They have one son, Jeff, and three grandchildren.

Bell worked as an active farm partner on the family row crop farm southeast of Jerome until 1997 when the Bells retired from the day-to-day operation of the farm.  She also worked as a librarian at the Jerome Junior High School for nine years.  She retired from the school in the spring of 1988 to run for the legislature.  Bell was appointed to the Agricultural Affairs Committee, where she served as vice-chairman, and to the Resources/Conservation Committee.  In her second term, she was appointed to the powerful Appropriations Committee.  She also serves on the Joint Legislative Oversight Committee which does performance audits for the state agencies.

In addition to her service in the legislature, Bell served as the Woman’s Chair of the Idaho Farm Bureau from 1980-1992.  She’s also been chairwoman of the Idaho Commission on Women and vice chair of Jerome County Representative Women.

Keith Brainard
As research director for the National Association of State Retirement Administrators, Keith Brainard collects, prepares and distributes to NASRA members news, studies and reports pertinent to public retirement system administration and policy. NASRA members are the directors and administrators of 82 statewide public retirement systems in the United States. Combined, these systems hold assets of more than $2 trillion in trust to fund pension and other benefits for most of the nation’s 22 million working and retired employees of state and local government.

Mr. Brainard is co-author of the Governmental Plans Answer Book, Second Edition, and he created and maintains the Public Fund Survey, an online compendium of public pension data sponsored jointly by NASRA and the National Council on Teacher Retirement. Keith created the State & Local Pension Exchange, predecessor to the Public Fund Survey and recipient of the Award for Excellence in Government Finance from the Government Finance Officers Association. He has discussed public pension issues with federal, state, and local policymakers; public pension trustees; and on broadcast television and radio.

Mr. Brainard previously served as manager of budget & planning for the Arizona State Retirement System and he provided fiscal research and analysis for the Texas and Arizona legislatures. He has a master’s degree from the University of Texas-Austin, LBJ School of Public Affairs. 

Rick Mattoon
Rick Mattoon is a senior economist and economic adviser in the economic research department of the Federal Reserve Bank of Chicago. Mattoon's primary research focuses on issues that face the Midwest regional economy.

Mattoon began his career at the Chicago Fed in 1990. In 1997, he left the bank to serve as a policy adviser for economic development, energy and telecommunications to the governor of Washington. He later served as director of policy and legislation for the Washington Utilities and Transportation Commission. He returned to the bank in 2001.

Mattoon's work has appeared in the National Tax Journal, State Tax Notes, Public Choice and Society. He is the co-author of a chapter on state and local governments and the national economy in the Oxford Handbook of State and Local Government Finance.

Mattoon serves on the Board of the Chicago Manufacturing Renaissance Council, the advisory committee to the Chicago Workforce Investment Council, the pension committee of the Civic Federation and is a member of the Joint Advisory Board of Economists to the governor of Virginia. He also serves as a lecturer at the Kellogg School of Management at Northwestern University. Mattoon received a B.A. from Kenyon College and an M.A. from the University of Chicago. 

Scott Pattison
Scott D. Pattison has served as the executive director of the National Association of State Budget Officers in Washington, D.C., since 2001. Founded in 1945, NASBO serves as the professional organization for all state budget officers of the 50 states and U.S. territories. NASBO collects data and publishes numerous reports on state fiscal conditions and organizes meetings and training for budget and finance officials. The organization also provides public officials, the media and citizens detailed information on state financial management and budgeting.

Before joining NASBO, Pattison served for four years as Virginia’s state budget director and also headed the Regulatory and Economic Analysis section of the Virginia Department of Planning and Budget. He previously served in a variety of capacities in the office of the Virginia attorney general, including as counsel on finance issues.

Pattison has served on numerous boards and has been an adjunct faculty member at the University of Richmond; he recently served on the board of Old Dominion University.  He is a fellow with the National Academy of Public Administration and is vice chair of the Association for Budgeting and Financial Management.

Pattison began his career as an attorney with the federal government serving in several positions at the U.S. Federal Trade Commission in Washington, D.C., including as an attorney-adviser. Pattison graduated Phi Beta Kappa from the George Washington University in Washington, D.C., and received his law degree from the University of Virginia. Identified as an important player in public policy by The Washington Post, Pattison is frequently interviewed by national news organizations, including The New York Times and National Public Radio.

Ingrid Vanderveldt, Entrepreneur in Residence, Dell

Ingrid Vanderveldt (iV) is Dell’s first Entrepreneur in Residence, the CEO of Green Girl Energy, creator of the GLASS Forum (Global Leadership & Sustainable Success), CEO of Ingrid Vanderveldt LLC, Managing Director of VH2 Energy Investments LLC and is a seasoned business television personality and a passionate advocate for WOMEN + GREEN sustainability initiatives. Ingrid has designed and executed corporate, entrepreneurial and philanthropic programs to advance the economic success of women-owned and green-focused businesses and has worked with companies including Microsoft, Dell, Humana and SAIC. Ingrid created CNBC’s first original primetime series, “American Made” reaching over 1 M viewers around the globe and has hosted the Web shows ‘On the Road with iV’ and the ‘Road to SXSW 2010’. In 2010, Ingrid was Founder/CEO of a green tech company that sold within 7 months of its founding. That success inspired a new mission of “Empowering a Billion Women by 2020” to help foster a more sustainable future for our planet. GLASS is the first major initiative established to provide thought leadership and global impact towards reaching that goal.

Ingrid serves on the Advisory Boards of SXSW Eco, World Blu, Current Motor and Visionary Holdings. She advises and supports Richard Branson’s Carbon War Room, XPRIZE, is a co-founder of The Billionaire Girls Club and is an invited member of the Dell Women’s Entrepreneur Network. She has been featured in the Wall Street Journal, USA Today, New York Times, Inc. Magazine, the Today Show and The Big Idea. Ingrid consults with Fortune 500 companies on their WOMEN + GREEN initiatives.

 

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fiscalforumsummary.pdf186.93 KB