Thanks to recent revenue increases, some states are unfreezing public workers’ pay for the first time since before the recession. But looking at pay levels rather than total compensation hides a great deal of the story.
The wealthy Virginia county outside Washington, D.C., has been free of the nasty political environment home to its neighbors – until now. Causing the controversy is a proposed streetcar, which nearly a dozen cities are building.
Today more than ever, it is critical for state and local governments to practice sound fiscal management and financial planning. Failure to understand financial outcomes undermines a jurisdiction’s economic and political viability. Yet there’s a big gap between what public leaders know about finance and what they need to know.