Recent articles by Liz Farmer from governing.com http://www.governing.com/authors/rss/rss/?a=182187201 Liz Farmer is a GOVERNING finance writer. Washington, D.C. Could Lose $6 Million Per Week in Shutdown http://www.governing.com/news/state/gov-washington-dc-could-lose-six-million-per-week-federal-shutdown.html The news came as the city is dipping into its own reserve funds to continue operating during the shutdown. Retiree Health Benefits May Be Harder to Cut If Court Ruling Holds http://www.governing.com/blogs/view/gov-are-retiree-health-care-benefits-empty-promises.html Retiree health benefits, commonly treated by governments as malleable when times are tough, may be harder to slash if a recent California court ruling holds. What the Debt Ceiling Default Could Mean for States and Localities http://www.governing.com/blogs/fedwatch/gov-what-the-looming-debt-ceiling-debate-means-for-states-and-localities.html If Congress doesn't raise the debt ceiling later this month, state and local programs could experience massive spending cuts. But the impact depends on a number of factors, experts say. Phoenix CFO Tapped for D.C.'s Top Finance Post http://www.governing.com/news/local/gov-phoenix-cfo-nominated-for-washington-dc-post.html Jeff DeWitt helped rescue Phoenix financially during the recession. Now he faces new challenges in D.C., if confirmed State Treasurers Caught in Politics’ Crosshairs http://www.governing.com/topics/politics/gov-treasurers-caught-in-politics-crosshairs.html As finances grow tighter and pension liabilities stay in the spotlight, treasurers in several states have been clashing with their peers about how best to manage the money. Facing Possibility of Federal Mandates, States Urged to Voluntarily Improve Financial Reporting http://www.governing.com/blogs/view/gov-how-much-government-financial-disclosure-is-enough.html In an effort to avoid reporting mandates from the SEC, states are being urged to voluntarily disclose information about their finances in a more formalized way. Moody's Proposes Making Pension Liabilities a Bigger Factor in Bond Ratings http://www.governing.com/blogs/view/gov-moodys-wants-pension-liabilities-to-play-bigger-ratings-role.html Moody's proposes making pension liabilities a bigger factor in bond ratings, which may lead cities to make better financial decisions. Can Public Employees Be Trusted to Choose the Right Retirement Plan? http://www.governing.com/blogs/view/gov-public-employees-trusted-choose-right-pension-retirement-plan.html We trust our public employees with taxpayers’ dollars, public resources and essential services -- but does any of that mean they’ll make the right choice for their own retirement? On Tech Tax, Can Massachusetts Succeed Where Others Have Failed? http://www.governing.com/blogs/view/gov-massachusetts-tech-tax.html As services take over the economy, the traditional sales tax has become less helpful to state revenues. Despite several states' failed attempts to tax services, Massachusetts is trying it again. New Era of Pension Finance Shows Huge Liabilities for States http://www.governing.com/news/state/gov-best-and-worst-funded-state-pensions.html More stringent accounting practices show state employee pensions combine for an underfunded ratio of 39 percent, according to a new report. How Detroit Put a Rain Delay on El Paso's Stadium Financing http://www.governing.com/blogs/view/gov-how-detroit-put-rainy-day-on-el-paso.html Detroit's bankruptcy rattled the muni bond market when El Paso needed it most. San Bernardino Becomes 3rd California City to Get Bankruptcy Protection http://www.governing.com/blogs/view/gov-judge-awards-san-bernardino-bankruptcy-protection.html The ruling, which makes San Bernardino the third California city to get bankruptcy protection, could serve as a guide for other cities like Detroit that are in financial distress. Observers also say it's an important test for Chapter 9. 3 Cities That Used Natural Disasters to Revitalize Their Futures http://www.governing.com/topics/transportation-infrastructure/gov-cities-that-used-disasters-to-revitalize-their-futures.html Hit by tornadoes and earthquakes, Tuscaloosa, Ala.; Greensburg, Kan.; and San Francisco all learned how to turn local tragedy into a new and vibrant vision. Their lessons are a playbook for local officials dealing with disasters. What Will New Bosses at the SEC and MSRB Mean for Muni Bonds? http://www.governing.com/topics/finance/gov-new-bosses-sec-msrb-effects-on-muni-bonds-market.html New leaders at both the U.S. Securities and Exchange Commission and the Municipal Securities Rulemaking Board may have big changes in store for the municipal bond market and its issuers. Detroit's Recovery Plan Increases Default Risks, Says Moody's http://www.governing.com/news/state/gov-moodys-detroit-emergency-manager-makes-default-an-option.html Moody's, the credit ratings agency, has warned that Detroit’s preliminary financial operating plan opens the door to place bondholders on the hook for the city’s debts, a move that would further damage the city’s already low credit rating.