2021 Plan of Finance Amortization
State Government Structure
Hawaii has a Centralized State Government with Strong Executive Authority
■ The Governor's office has significant powers and scope
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Governor and the Lieutenant Governor are the only directly
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elected executive officials (same ticket)
- Executive authority to control spending through ability to
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restrict, delay or suspend appropriations
Broad powers of appointment
Authority to issue Emergency Proclamations
■ State Legislature has the ability to increase taxes and authorize
debt without voter approval
■The State's Constitution does not provide for voter driven initiatives
■ The Council on Revenues ("the Council") provides independent quarterly revenue forecasts that facilitate better budget
planning and execution
Biennium budgeting and multi-year financial and capital planning are additional strengths
■ Constitutional requirements for positive ending General Fund balance and either level debt service or level debt
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Hawaii's G.O. Bonds have a clear first lien priority on all General Fund balancesView entire presentation