Jim Reardon

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Jim Reardon to retire from state government

MONTPELIER — Commissioner of Finance Jim Reardon, who has crafted state budgets for Democratic Gov. Peter Shumlin and former Republican Gov. James Douglas, is retiring after nearly 30 years of state service. Reardon’s retirement was part of several staff changes the governor announced Tuesday. Reardon has served as finance commissioner since February 2005. Before that he served as deputy finance commissioner and financial operations ,anager for the Agency of Human Services. Current Department of Corrections Commissioner Andy Pallito has been tapped to replace Reardon. Continue Reading →

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List of $29 million in potential budget cuts revealed

MONTPELIER — A list of potential budget cuts totaling about $29 million was revealed Thursday by the Shumlin administration and key lawmakers that may be used to help close a budget gap in the 2016 fiscal year that has grown larger during this legislative session. The list of cuts, characterized by Finance Commissioner Jim Reardon as a list of “brainstorming ideas,” includes far-fetched ideas such as reducing the 150-member House to 120 members. It also includes painful reductions to the state’s online health insurance marketplace and premium subsidies that many Vermonters rely on. The list, revealed at a House Appropriations Committee meeting Thursday afternoon, prompted Chairwoman Rep. Mitzi Johnson, D-South Hero, to note that lawmakers and the administration would need to take a “good, hard look at a lot of our loyalties and core values.”

“I just want to acknowledge how incredibly difficult this is,” she said. The list, which also includes the possibility of closing the Vermont Veterans Home in Bennington, was compiled by administration officials including Reardon and Secretary of Administration Justin Johnson, as well as Johnson, Senate Appropriations Committee Chairwoman Jane Kitchel, D-Caledonia, and analysts with the Joint Fiscal Office. Continue Reading →

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Administration seeks $17 million more in cuts

MONTPELIER — The Shumlin administration announced Wednesday it is seeking $17 million more in mid-year budget cuts to account for poor revenues. The announcement follows a $31 million rescission in August. Administration officials said Wednesday that the state’s economic recovery is ongoing but revenue has not rebounded as economists had previously predicted. Democratic Gov. Peter Shumlin forewarned earlier this month that additional budget cuts were likely. “Prudence dictates that our administration take steps without delay to ensure spending does not exceed available revenues,” Jim Reardon, commissioner of Finance and Management, said in a statement Wednesday. Continue Reading →

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State budget talks: Input wanted

State budget talks begin tomorrow, and the state wants your input. A draft copy of the presentation is available here, and an edited press release follows:

The first of two public forums occurs tonight to discuss the state budget process, revenues and expenditures. As required by state legislation, public participation is required in the development of budget goals and general prioritizing and evaluation of spending and revenue initiatives. “We hope to engage the public in a discussion about the goals, opportunities and complexities of putting together the State budget,” Finance & Management Commissioner Jim Reardon said in a statement. “We’ll discuss revenues and expenditures and conduct a budget exercise about priorities for how state funds might be directed.” Continue Reading →

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