Thad Calabrese

Thad Calabrese
Assistant Professor of Public and Nonprofit Financial Management

Thad Calabrese studies public and nonprofit financial management, applying the principles of business finance to organizations involved in the production or co-production of public goods and services. His research focuses on two related themes of finance: 1) What are the factors – both internal and external - that nonprofit and public organizations consider when acquiring and using resources? 2) How do these factors influence organizational financial capacity, sustainability, reporting, and accountability? His research has appeared in the Journal of Accounting and Public Policy, Public Administration Review, Nonprofit and Voluntary Sector Quarterly, Public Budgeting and Finance, Nonprofit Management & Leadership, among others. He has co-authored two texts: Financial Management for Public, Health, and Not-for-Profit Organizations, 4th Edition (Pearson Prentice Hall), and Accounting Fundamentals for Health Care Management, 2nd Edition (Jones and Bartlett Learning).

Thad currently serves on the Executive Committee of the Association for Budgeting and Financial Management. He also chairs the Conference Scholarship Committee for the Association for Research on Nonprofit and Voluntary Action. He has also served for several years on the Audit Committee of the Support Center for Nonprofit Management, which provides consulting services, transition management, and training to nonprofit organizations primarily in New York and New Jersey. Before joining the Wagner School, Thad was on the faculty at the School of Public Affairs at Baruch College – CUNY. Prior to academia, Thad worked in the New York City Office of Management and Budget in tax policy and also as a financial consultant working with nonprofit organizations in New York City.

Semester Course
Spring 2014 CORE-GP.1021.001 Financial Management for Public, Nonprofit, and Health Organizations

In this core course in financial management, students will learn the fundamentals of budgeting and accounting for public, health, and not-for-profit organizations. Through readings, lectures, real-world case studies, and assignments, students will gain an understanding of how to use financial information in organizational planning, implementation, control, reporting, and analysis. In addition, students will have the chance to develop their spreadsheet skills by using Excel to perform financial calculations and create financial documents.

The first half of the course focuses on managerial accounting, a set of tools used by managers for planning, implementation, and control. Topics in this portion of the course include operating budgets, cash budgets, break-even analysis, indirect cost allocation, variance analysis, the time value of money, capital budgeting, and long-term financing.

The second half of the course focuses on financial accounting, a set of tools used by managers and outside observers for reporting on and analyzing an organization’s financial health. Topics in this portion of the course include the preparation and analysis of financial statements (balance sheet, activity statement, and cash flow statement), ethics in financial management, and government accounting and financial condition analysis.


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Fall 2014 HPAM-GP.4840.001 Financial Management for Health Care Orgs - I: Financial Management and Budgeting

This course incorporates topics of planning and financial decision making as applied to health-care organizations. This course will cover two main topics:
-Financial analysis both as a proactive exercise and a tool for organizational control.
-Issues of budgeting, cost determination, pricing and rate setting in a healthcare environment.
The course includes lectures, problem solving and a finance term project. Students should be prepared to discuss assigned problems and readings in class. The course integrates academic and practical approaches and perspectives on current health-care financial problems.


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Fall 2014 HPAM-GP.4841.001 Financial Management for Health Care Orgs - II: Capital Financing and Advanced Issues

This is a required 2-credit course for all Wagner students in the health financial management specializations and is recommended for health management students. The course incorporates topics of capital planning and other finance issues making as applied to health-care organizations. This course will cover three main topics:
-Public payer rate setting
-Understanding risk and the costs of capital in making financial decisions.
 Issues in working capital and investment management activities of healthcare organizations.
The course includes lectures, problem solving and a term finance project. Students should be prepared to discuss assigned problems and readings in class. The course integrates academic and practical approaches and perspectives on current health-care financial problems.


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Fall 2014 PADM-GP.2142.001 Financial Management for Nonprofit Organizations

This course focuses on financial management in a wide variety of nonprofit organizations. Some of these are organizations that rely primarily on donor support through pledges, grants and endowments. Others rely on revenues generated through the provision of services. In the fall term, the course adds material on NGOs operating in the international arena. In the spring term, the course concentrates on U.S. nonprofits. The substantive issues for financial managers are similar in both semesters.

We will look at cash flow management, cost analysis and allocation, investment management, the analysis of new programmatic investments, and strategic financial analysis. Most of the readings and materials will be drawn from sources on the internet, or provided by visiting practitioners who will help us work through cases involving issues facing their organizations.


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Fall 2013 PADM-GP.2142.001 Financial Management for Nonprofit Organizations

This course focuses on financial management in a wide variety of nonprofit organizations. Some of these are organizations that rely primarily on donor support through pledges, grants and endowments. Others rely on revenues generated through the provision of services. In the fall term, the course adds material on NGOs operating in the international arena. In the spring term, the course concentrates on U.S. nonprofits. The substantive issues for financial managers are similar in both semesters.

We will look at cash flow management, cost analysis and allocation, investment management, the analysis of new programmatic investments, and strategic financial analysis. Most of the readings and materials will be drawn from sources on the internet, or provided by visiting practitioners who will help us work through cases involving issues facing their organizations.


Download Syllabus
Fall 2013 HPAM-GP.4840. Financial Management for Health Care Orgs - I: Financial Management and Budgeting

This course incorporates topics of planning and financial decision making as applied to health-care organizations. This course will cover two main topics:
-Financial analysis both as a proactive exercise and a tool for organizational control.
-Issues of budgeting, cost determination, pricing and rate setting in a healthcare environment.
The course includes lectures, problem solving and a finance term project. Students should be prepared to discuss assigned problems and readings in class. The course integrates academic and practical approaches and perspectives on current health-care financial problems.


Download Syllabus
Fall 2013 HPAM-GP.4841.001 Financial Management for Health Care Orgs - II: Capital Financing and Advanced Issues

This is a required 2-credit course for all Wagner students in the health financial management specializations and is recommended for health management students. The course incorporates topics of capital planning and other finance issues making as applied to health-care organizations. This course will cover three main topics:
-Public payer rate setting
-Understanding risk and the costs of capital in making financial decisions.
 Issues in working capital and investment management activities of healthcare organizations.
The course includes lectures, problem solving and a term finance project. Students should be prepared to discuss assigned problems and readings in class. The course integrates academic and practical approaches and perspectives on current health-care financial problems.


Download Syllabus
Spring 2013 PADM-GP.2142.001 Financial Management for Nonprofit Organizations

This course focuses on financial management in a wide variety of nonprofit organizations. Some of these are organizations that rely primarily on donor support through pledges, grants and endowments. Others rely on revenues generated through the provision of services. In the fall term, the course adds material on NGOs operating in the international arena. In the spring term, the course concentrates on U.S. nonprofits. The substantive issues for financial managers are similar in both semesters.

We will look at cash flow management, cost analysis and allocation, investment management, the analysis of new programmatic investments, and strategic financial analysis. Most of the readings and materials will be drawn from sources on the internet, or provided by visiting practitioners who will help us work through cases involving issues facing their organizations.


Download Syllabus
Fall 2012 HPAM-GP.4840.001 Financial Management for Health Care Orgs - I: Financial Management and Budgeting

This course incorporates topics of planning and financial decision making as applied to health-care organizations. This course will cover two main topics:
-Financial analysis both as a proactive exercise and a tool for organizational control.
-Issues of budgeting, cost determination, pricing and rate setting in a healthcare environment.
The course includes lectures, problem solving and a finance term project. Students should be prepared to discuss assigned problems and readings in class. The course integrates academic and practical approaches and perspectives on current health-care financial problems.


Download Syllabus
Fall 2012 HPAM-GP.4841.001 Financial Management for Health Care Orgs - II: Capital Financing and Advanced Issues

This is a required 2-credit course for all Wagner students in the health financial management specializations and is recommended for health management students. The course incorporates topics of capital planning and other finance issues making as applied to health-care organizations. This course will cover three main topics:
-Public payer rate setting
-Understanding risk and the costs of capital in making financial decisions.
 Issues in working capital and investment management activities of healthcare organizations.
The course includes lectures, problem solving and a term finance project. Students should be prepared to discuss assigned problems and readings in class. The course integrates academic and practical approaches and perspectives on current health-care financial problems.


Download Syllabus
Spring 2008 EXEC-GP.1821.001 Financial Management for Nurse Managers

Only open to Executive MPA students.

The primary objective of this course in financial management is to teach students how to use financial information to make decisions in health organizations. Its secondary objective is to help students develop their quantitative and communication skills.

This course looks at financial management as a process. The process begins with an organization developing a plan for the future. The organization then implements the plan and takes steps to control operations so as to keep to the plan. Finally, the organization reports the results of operations so that internal managers and outside observers can analyze the organization’s financial health.

The first half of the course focuses on managerial accounting: tools for developing, implementing, and controlling the plan. Major topics include operating budgets, cash budgets, capital budgets, long-term financing options, and variance analysis.

The second half of the course focuses on financial accounting: tools for reporting on and analyzing an organization’s financial position and the results of its operations. Major topics include the preparation of financial statements for non-profit organizations, and financial-statement analysis.


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Date Publication/Paper
2014

Calabrese, Thad and Justin Marlowe 2014. Post-Employment Benefits: Pensions and Retiree Health Care In Richard C. Kearney and Jerrell D. Coggburn, Eds., Public Human Resource Management: Problems and Prospects, 6th Edition (Pearson)

2013

Thad Calabrese and Todd Ely 2013. Pension Obligation Bonds and Government Spending Public Budgeting and Finance, 33(4):43-65
Abstract

We examine the use of pension obligation bonds (POBs) as a financing strategy to address the effects of unfunded pension liabilities on government operating budgets. POBs are publicly marketed as money-saving mechanisms that reduce pension system payments while allowing for increased spending on other government priorities. We review general POB usage and examine whether POBs altered school district spending patterns in Oregon and Indiana. Our results indicate that districts issuing POBs have not increased educational spending relative to other districts. Because POBs cost money to issue and manage, decision makers are encouraged to consider annual budgetary effects prior to issuance.

Ives, Martin and Thad Calabrese 2013. Employee Benefit Financing and Municipal Bankruptcy Journal of Government Financial Management 62(1): 12-19.
Abstract

Five municipalities with populations over 100,000 have declared bankruptcy since 2008, as have some smaller ones, including Central Falls, RI, in 2011. The bankruptcies have unsettled citizens, current and retired employees, and creditors of the governments involved; further, the apparent increasing willingness of municipal officials to file for bankruptcy has raised concerns nationwide. Municipal bankruptcy is exceedingly rare. Only 650 US Bankruptcy Code Chapter 9 municipal bankruptcy cases were filed between 1937 and 2012; by contrast, 2009 alone saw more than 11,000 Chapter 11 corporate reorganization filings. The bankruptcy of Central Falls shows what can happen when systematic underfunding of employee benefit promises runs into a weak, declining economy. Central Falls is a relatively poor municipality. The consequences of bankruptcy can be severe for citizens, employees and creditors. As the current bankruptcy filings unfold in the courts, there is growing alarm among those concerned with government finances regarding the impact of bankruptcy on future borrowing costs and on the safety of employee benefit promises.

Calabrese, Thad. 2013. Running on Empty: The Operating Reserves of US Nonprofit Organizations Nonprofit Management & Leadership 23(3): 281-302.
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Abstract

Operating reserves allow nonprofit organizations to smooth out imbalances between revenues and expenses, helping to maintain program output in the presence of fiscal shocks. We know surprisingly little about why nonprofits might save operating reserves and what factors explain variation between organizations' savings behavior. Findings suggest that operating reserves are reduced in the presence of concentrated public funds, access to debt, fixed assets, and endowment. However, size is not an important predictor, indicating that the lack of reserves is not limited to small nonprofit organizations but is instead a sectorwide issue. Significant numbers of nonprofits maintain no operating reserves at all. One potential explanation is that organizations discount the benefits of reserves because they are evaluated on spending, focusing instead on the “benefits of costs.” This preference for spending over reserving may also help explain the general lack of liquidity in the sector beyond operating reserves alone.

2012

Finkler, Steven A., Robert M. Purtell, Thad D. Calabrese, and Daniel L. Smith. 2012. Financial Management for Public, Health, and Not-for-Profit Organizations 4th ed. Upper Saddle River, NJ: Pearson Prentice Hall.
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Finkler, Steven A., Robert M. Purtell, Thad D. Calabrese, and Daniel L. Smith. 2012. Financial Management for Public, Health, and Not-for-Profit Organizations 4th ed. Upper Saddle River, NJ: Pearson Prentice Hall.
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Calabrese, Thad, Grizzle, C. 2012. Debt, Donors, and the Decision to Give Journal of Public Budgeting, Accounting, and Financial Management, volume 24, no. 2: 221-254
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Abstract

There has been a significant amount of work done on the private funding of nonprofits. Yet, despite the enormous size of the nonprofit sector as a whole, the importance of private donations to the sector, and the significance of the sector to public finances, there has been very little empirical research done on the capital structure of nonprofit organizations, and none has examined the potential effects of borrowing on individual contributions. Debt might affect donations because programmatic expansion might “crowd-in” additional donors, the use of debt might “crowd-out” current donors since expansion is undertaken at the behest of the organization (and not due to donor demand for increased output), donors might have a preference for funding current output rather than past output, or because of concerns that the nonprofit will be unable to maintain future programmatic output. These potential effects of debt on giving by individuals have not been the focus of research to date. The primary data for this paper come from the “The National Center on Charitable Statistics (NCCS)-GuideStar National Nonprofit Research Database” that covers fiscal years 1998 through 2003. The digitized data cover all public charities required to file the Form 990. The final sample contains 460,577 observations for 105,273 nonprofit entities. The results for the full sample support a “crowding-out” effect. The analysis is repeated on a subsample of nonprofits more dependent upon donations, following Tinkelman and Mankaney (2007). The restricted sample contains 121,507 observations for 36,595 nonprofit organizations. The results for the subsample are more ambiguous: secured debt has little or no effect, while unsecured debt has a positive effect. The empirical analysis is then expanded to test whether nonprofits with higher than average debt levels have different results than nonprofits with below average debt levels. The results suggest that donors do remove future donations when a nonprofit is more highly leveraged compared to similar organizations.
Nonprofits may fear that the use of debt signals mismanagement or bad governance, worrying that donors will punish the organization by removing future donations. The results presented here suggest a more complicated relationship between nonprofit leverage and donations from individuals than this simple calculus. On the one hand, increases in secured debt ratios (from mortgages and bonds) seems to reduce future contributions, possibly because donors are wary of government or lender intervention in the nonprofit’s management, or possibly because of the lack of flexibility inherent in repaying such rigid debt. On the other hand, unsecured debt, while more expensive, seems to crowd-in donations, even at increasingly higher levels when compared to similar organizations. There are at least two important conclusions from this analysis. First, during times of fiscal stress, nonprofits are often tempted to use restricted funds in ways inconsistent with donor intent simply to ensure organizational survival. Rather than violate the trust of certain donors, the results here suggest that nonprofits would be better off utilizing unsecured (possibly short-term) borrowing to smooth out cash flow needs. This option, however, assumes that nonprofits have access to some type of borrowing which is not true for many organizations. A second conclusion one might draw, therefore, is that policy considerations should be made to expand access to debt for nonprofits. The results here suggest that certain types of unsecured debt might in fact draw in additional resources, allowing nonprofits to leverage these borrowings for additional resources. By encouraging this type of policy option, nonprofits would not only gain access to increased revenue sources, but might be able to maintain programmatic output during times of fiscal stress.

Calabrese, Thad. 2012. The Accumulation of Nonprofit Profits: A Dynamic Analysis. Nonprofit and Voluntary Sector Quarterly 41(2): 300-324
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Abstract

Notwithstanding its importance as an internal source of financing, no analysis has examined why nonprofits choose to retain unrestricted net assets. As restricted net assets might not be used as desired by the nonprofit manager, unrestricted net assets are a more accurate definition of available internal resources than total net assets. This article tests several theories that might motivate nonprofit accumulation of unrestricted net assets. Furthermore, the empirical strategy employed allows an analysis of unrestricted net asset accumulation over time and overcomes several significant statistical estimation issues. The results suggest that nonprofits target profits and seek their accumulation over time, although targets may be set at very low levels. Furthermore, the results suggest that the low levels of profits accumulated annually are for the purpose of reducing organizational financial vulnerability. The results also suggest that many nonprofits behave as if leverage and unrestricted net assets are substitutes.

Carroll, Deborah A. and Thad Calabrese. 2012. Alternative Service Delivery: Does Nonprofit Financing Influence State Tax Burden? The American Review of Public Administration March 2013 vol. 43 no. 2 200-220, doi: 10.1177/0275074012439745
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Abstract

We analyze panel data of U.S. states to determine whether nonprofit contribution and program service revenues are correlated with state tax burden. State tax burden is modeled as a function of (a) state tax policy, (b) nontax policy factors that affect state income, and (c) other exogenous factors that are independent of state tax policy and do not directly induce income; regression results reveal correlations with variables in all three categories. Intergovernmental revenue (IGR) paid to local governments, debt burden, tax exporting, a tax revenue limitation, and nonprofit revenue are most consistently correlated with state tax burden. Financial support for nonprofits in the form of contributions helps to reduce state tax burden and does so at a meaningful level. This finding implies nonprofits provide goods and services that are supplementary to government provision. However, the supplementary nature of nonprofit service provision is not universal. Further analysis of contribution and program service revenues for nonprofits in particular service categories finds either no correlation with state tax burden, a reduction in state tax burden, or an increase in tax burden imposed on state residents over time. By controlling for factors influencing demand for service provision and state tax policy changes, the regression results also provide evidence that government acts as a free rider.

Calabrese, T., Carroll, D. 2012. A Consequence of Exempting the Third Sector: Do Homeowners Pay More Property Taxes? Public Finance and Management Vol 12(1): 21-50.

Marwell, Nicole, and Thad Calabrese, Jack Krauskopf 2012. A Financial Analysis of New York State’s Child Welfare Organizations Baruch College Center for Nonprofit Strategy and Management

Steven Finkler, David Ward, and Thad Calabrese 2012. Accounting Fundamentals for Health Care Management, 2nd Edition.
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Abstract

At A Time When Health Care Organizations Face Unprecedented Financial Challenges, Understanding Financial Accounting Is Important For All Health Care Professionals, Especially Those Who Manage A Department And A Budget. Designed For Both Students And Professionals, Accounting Fundamentals For Health Care Management, Second Edition Clearly Explains Accounting Principles And Applies Them To The Health Care Environment.Critical Topics Such As Recording And Reporting Financial Information, Depreciation, And Financial Statement Analysis Are All Thoroughly Covered The Second Edition Offers: New Co-Author, Thad Calabrese New Chapter (Chapter 2) Provides An Excel Tutorial. New Discussion Of The Impact Of Health Care Reform In Chapter 3 Updated Throughout With Information On IFRS Coverage Of Cash Basis Vs. Accrual Basis New Discussion Of Fair Value Simplified Discussion Of MACRS New Discussion Of Sarbanes-Oxley Act Many General Updates

Calabrese, Thad, and Deborah A. Carroll 2012. Nonprofit Exemptions and Homeowner Property Tax Burden Public Finance and Management 12(1): 21-50.
Abstract

This paper examines the question of whether there is any correlation between the prevalence of nonprofit organizations with property, plant, and equipment exempt from property taxation and the property tax burden for homeowners. Data from the Tax Foundation and Internal Revenue Service was used to analyze general-purpose local governments within larger counties (populations greater than 65,000) in the United States for years 2005 and 2006. Several econometric specifications were used to estimate homeowner property tax burden as a function of the value of nonprofit fixed assets, government tax structure characteristics, and a series of control variables. Our estimates suggest that county geographies with greater presence of nonprofits tend to have higher homeowner tax burdens on average. Specifically, the value of nonprofit tax-exempt fixed assets within a county geography that is 10% above the mean of $15.4 million is generally associated with a median property tax paid by homeowners as a % of household income that is between 0.0009% and 0.0154% above the mean or between $2 and $24 higher on average. The median property tax paid as a % of homeowner’s home value would be between 0.0006% and 0.0069% above the mean or between $3 and $12 higher on average. Overall, we find a strong, positive correlation between nonprofit fixed assets and property tax burden for homeowners at the local level.

2011

Calabrese, T., Ely, T. L. 2011. School District Pension Bond Issuance and the Influence on Spending Behavior Association for Education Finance and Policy

Ives, M., Calabrese, T. 2011. Creating Deficits with Balanced Budgets Journal of Government Financial Management 60(4): 38-44

Calabrese, Thad. 2011. Do Donors Penalize Nonprofits with Wealth Accumulations? Public Administration Review 71(6): 859-869

Calabrese, Thad., Ely, T. L. 2011. Money for Nothing? Pension Obligation Bonds and Government Spending Public Finance and Budgeting Section, Western Social Sciences Association

Calabrese, Thad. 2011. Public Mandates, Market Monitoring, and Nonprofit Financial Disclosures Journal of Accounting and Public Policy, 30(1), 71-88.
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Abstract

Public officials have recently sought increased regulation of financial disclosures from not-for-profit organizations as a means of improving accountability with the public. One objective of this study is to examine whether not-for-profit entities already subject to audit requirements submit financial reports in compliance with GAAP. Further, since the majority of not-for-profit organizations are not subject to public audit mandates, this study also ascertains whether other market actors such as donors monitor and demand accrual-based financial information. The empirical analyses indicate that not-for-profit organizations subject to public audit mandates are largely in compliance with GAAP, although a significant minority of organizations subject to state requirements is not; further analyses suggest that external oversight significantly influence the use of accrual reporting. Models are also tested on a subsample of not-for-profits that switched from cash to accrual reporting, with the results suggesting that increasing public and market oversight have a significant effect on the decision to switch methods. The overall results suggest that public and market actors demand accrual-based financial reporting from not-for-profit organizations.

Calabrese, Thad, 2011. Testing Competing Capital Structure Theories of Nonprofit Organizations Public Budgeting and Finance 31(3): 119-143
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Abstract

The static trade-off and pecking order capital structure theories are analyzed and applied to nonprofit organizations. In addition, this paper also considers how nonprofits adjust their leverage over time. The analyses consider the unique role of donor-restricted endowments in the decision to borrow, as well as different types of borrowing by nonprofits. The results indicate that nonprofit capital structure choices are best explained using the pecking order theory, in which internal funds are preferred over external borrowing. Further, nonprofit endowment is not found to increase leverage. Despite the unambiguous findings across varying definitions of leverage, the results also suggest that a “modified pecking order” is a more apt descriptor of nonprofit behavior.

2010

Munnell, A., Calabrese, T., Monk, A., Aubry, J.-P 2010. Pension Obligation Bonds: Financial Crisis Exposes Risks (Brief Number 9 in State and Local Pension Plans Series ed.) Center for Retirement Research at Boston College
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Abstract

The brief’s key findings are:

  • Some state and local governments issue Pension Obligation Bonds (POBs) to raise cash to cover their required pension contributions.
  • POBs allow governments to avoid increasing taxes in bad times and could reduce pension costs, but they pose considerable risks.
  • Those who issue POBs are often fiscally stressed and not well-positioned to handle the investment risk.
2009

Calabrese, Thad. 2009. Why Do Nonprofits Retain Unrestricted Net Assets? Evidence from Panel Data, and Policy Implications Association for Research on Nonprofit and Voluntary Action

2009. Why Do Nonprofits Retain Unrestricted Net Assets? Evidence from Panel Data, and Policy Implications?

Calabrese, Thad. 2009. The Determinants of Nonprofit Net Assets Faculty Research Seminar, School of Public Affairs

Calabrese, Thad. 2009. Public Pensions, Public Budgets, and the Risks of Pension Obligation Bonds Society of Actuaries, Public Pension Finance Symposium
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Abstract

Budgeting is the core financial task in subnational governments. Although limited research has outlined the relationship between the annual operating budget and public pension funds, the existing literature has not considered the manner in which financial resources are measured within government budgets, how this measurement of resources might affect public budget decisions, and how the interaction of the budget with the actuarial model can lead public budget managers to engage in financially damaging transactions such as pension obligation bonds. This paper fills this void, and argues that the short-term nature of public budgeting coupled with the actuarial model's use of expected investment returns rather than a market discount rate for pension liability measurement causes governments to shift risk to future generations. This paper also recommends that a blended discount rate for pension liabilities be considered more appropriate when governments fund their annual pension expenditures using debt rather than equity (such as tax revenues).

2008

Calabrese, Thad. 2008. What Determines Nonprofit Net Assets? Association for Public Policy and Management

2008. Examining the Determinants of Nonprofit Accounting Basis Choice
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Calabrese, Thad. 2008. Examining the Determinants of Nonprofit Accounting Basis Choice Association for Budgeting and Financial Management

Weinstein, M., Calabrese, T. 2008. IESP Brief: Public Funding for After-School Programs 1998-2008
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Abstract

The authors of this policy brief document that in the decade since the Open Society Institute awarded a challenge grant to TASC to encourage the creation of sustainable public funding streams for after-school programs, every level of government has dramatically increased public funding for comprehensive after-school programs in New York City.
The authors note that the City of New York has contributed an increasingly larger share of public support since the city launched its Out-of-School Time Initiative to provide kids with academic, cultural and recreational activities after school and during summers. The authors estimate that eight times more kids in kindergarten through high school attend after-school programs today than in 1998. "Over the past ten years in New York City," they conclude, "public support for after-school programs has become one of the foundations of service for children and youth."