Course Correction
Once-popular public golf courses have become a strain on many cities’ budgets. Are municipal greens still up to par?
Authors
Liz Farmer |
Email : farmersfieldonline@gmail.com Twitter : @LizFarmerTweetsLiz Farmer -- Former Fiscal Policy Writer. Liz Farmer formerly covered fiscal policy policy for Governing magazine and wrote about state and local budgets, pensions and other public-sector fiscal issues. She is now a freelance writer, consultant and research fellow based in Maryland.
Amid Concerns of a Recession, Pension Plan Returns Fall Short
After two straight years of beating expectations, pension investment earnings have slightly dipped thanks in part to fears of a trade war.
Will Climate Change Lead to a 'Fiscal Tsunami'?
Ratings agencies want more information about each state and local government's vulnerability to extreme weather. Moody's isn't waiting for them to give it up.
The K-12 Conundrum: Americans Want More Education Funding, But Not Higher Taxes
The public is willing to raise some taxes, but only ones that create unreliable revenue streams.
This Bill Could Save Rural Governments Millions in Infrastructure Financing
A proposal before Congress would expand a provision that gives small governments and districts access to cheaper financing.
Kentucky's New Pension Law Marks Unprecedented Reforms
Critics say it could weaken the state's retirement system, which is already the worst-funded in the nation.
Support Grows for Marijuana Banking Bill in Congress
A bill that would help the billion-dollar industry get access to bank accounts won support from some key U.S. senators.
What Crisis? The Case for Not Panicking Over Pension Debt.
New research released this week shows that even pension plans with big unfunded liabilities are likely to survive in the long term.
States Again Sue IRS Over Federal Tax Law
Connecticut, New Jersey, New York and a local government coalition allege that a new IRS rule unlawfully puts an end to their tax reform workarounds.
5 States Still Don't Have a Budget. Here's Why.
Medicaid expansion, education funding and tax breaks are at the heart of the stalemates this year. The delays may hurt some states more than others.
How Nevada Plans to Solve the Marijuana Banking Problem
The state is drawing inspiration from the gambling industry to get cannabis businesses access to banks.
How Federal Tax Reform Is Changing Government Borrowing
Fearing more changes from Congress, states and cities are turning less and less to the municipal bond market.
In Absence of Federal Money, Local Governments Spend Millions to Help Asylum Seekers
President Trump's ending of the safe release program is costing cities and counties. Congress is debating a bill that would at least partially reimburse them.
A Year After Online Sales Tax Ruling, Are States Reaping More Revenues?
Almost every state has jumped at the opportunity to tax online purchases.
How State Procurement Offices Are Learning to Buy Better
Cautiously and slowly, governments are taking more risks and modernizing the way they purchase goods and services.
Late State Budgets Are Less Common This Year. There's 2 Big Reasons for That.
Still, a few states may miss the July deadline, leading to a government shutdown in some.
Final IRS Rules Leave States Few Options for Evading the SALT Cap
"There is something to upset everyone in the IRS rule."
Will Legalizing Marijuana and Sports Betting Solve Illinois' Budget Problems?
The state, which has worse credit than any other and has had chronic budget deficits, passed a fiscal plan this week that relies on new revenue sources to help pay down its massive debt.
What's in the Disaster Aid Package for States and Localities?
Congress passed a long-delayed bill to help places recover from past (and future) natural disasters. President Trump is expected to sign it.
Governments Rethink Their 'Moral Obligation' to Municipal Bondholders
In the post-recession era, some struggling governments are choosing not to pay bondholders -- and judges are allowing their refusal.
Are Tech Tax Breaks Obsolete?
A week after San Francisco ended its "Twitter tax break," Washington, D.C., ditched some incentives for tech companies.
The Baltimore Cyberattack Highlights Hackers' New Tactics
Ransomware attacks are becoming more sophisticated and taking longer for governments to recover from. Some of Baltimore's services have been down for nearly a month.
The Only 2 States That Can't Afford a Recession
Most states have improved their finances since the last one.
Rising Funeral Costs Put Pressure on Local Governments
Funerals have become a luxury that many Americans can’t afford. Cities and counties are paying the price.
Small City, Big Goals: How an Unconventional Mayor Is Beating the System
West Sacramento, Calif.'s Christopher Cabaldon has revived his town and become a player on the national stage.
The Keys to Helping Kids Overcome Poverty
New studies shed light on how low-income children can beat the odds that are against them in school and beyond.
How Federal Tax Reform Has Impacted Real Estate
The short-term effects haven't been as bad as predicted, but local governments are still worried about the long term.
How Will Governments Spend Their Opioid Settlements From Drug Companies?
As they start to roll in, some say the tobacco settlement offers a cautionary tale.
How Can a City Issue Pay Raises and Layoff Notices in One Week?
Houston firefighters are getting what they wanted. But it's coming at a cost.
Pensions Have Tripled Their Investment in High-Risk Assets. Is It Paying Off?
A growing body of evidence shows that "alternative investments" may be lowering returns and costing state and local governments more.
Should Big Tech Be Taxed for Using Our Data?
There's a growing movement to, but some say it's a misguided policy.
State Tax Revenues Are Higher Than Ever, But Good Times May Not Last
Federal tax reform and the economy are boosting state coffers -- for now.
States Want Trump to Release His Tax Returns. What About Governors?
Democrats are pushing legislation to require presidential candidates to release their tax returns. The same rules don't apply for most statewide elections -- but that could change.
'Investors Are Hesitant': Rural America Might Miss Out on 'Opportunity Zones'
Tax breaks likely aren't enough to lure investors to low-income communities in rural areas. There are ways they can become more attractive.
The Key to Predicting the Next Teacher Strike
A new study confirms that the less teachers are paid, the more likely they are to protest. Only a few of the lowest-paid districts have yet to see a strike.
Federal Tax Reform May Be Saving Money for States, Even High-Tax Ones
The part of the 2017 law that high-tax states are battling in court is likely helping them lower their debt -- at least in the short-term.
Cities and Pension Funds Are Suing Big Banks (Again)
Baltimore hopes to spearhead two class action lawsuits that accuse banks of rate fixing.
The Economy Is Growing, But Many People Aren't Feeling the Benefits
Median earnings, poverty and employment rates have stagnated, and racial gaps have worsened, according to a new Brookings report. Five cities, however, are bucking these trends.
Why Billions in Disaster Recovery Remain Unspent for 2017 Hurricanes
A new GAO report signals bad news for places that will try to rebuild after the Midwest flooding.
Trump More Than Doubled Funding for the Opioid Crisis. How's It Being Spent?
The funding influx is saving lives, but a new report says the federal government needs to stop "treating addiction as if it’s an acute condition instead of a chronic one."
Momentum for Fixing the Marijuana Industry's Banking Problem Is Higher Than Ever
The SAFE Banking Act passed a congressional committee on Thursday, meaning it’s already made it farther in the legislative process than the previous version.
Do Corporate Tax Incentives Work? 20 States, and Most Cities, Don't Know.
Washington state, which gave Boeing $1 billion over the past four years, has a well-established system to evaluate tax deals. Many governments don't.
Inside Trump's Budget: 6 Things State and Local Governments Should Know
The president's 2020 proposal would slash domestic spending by nearly 10 percent and increase defense spending by 5 percent.
Despite Teachers' Strike Success, Their Schools Are Still Funded Less Than a Decade Ago
For the first time since the Great Recession, most states have restored their education cuts. But the places where protests have erupted still have a long way to go.
Corporate Tax Deals May Be Public, But What Happens Next Is Often Secret
New research shows that it's not rare for companies to lower their job promises after accepting tax incentives from the government.
The Drastic, Risky, Measures to Fix America's Brokest Pension Systems
Kentucky and Illinois are weighing extreme options to reduce their pension debt -- but critics say they could ultimately cost the states more.
As Wildfire Season Nears, California Power Companies Get a Warning
After PG&E's bankruptcy and downgrades, S&P says more could follow if the state doesn't reform utility regulations.
New Wave of Teacher Strikes Puts Pressure on Strained School Districts
Unlike states, localities are more constrained in their ability to raise revenues. It's creating big budget deficits for some school districts.
National Emergency Jeopardizes $6 Billion in Funding for States
The president's plan to build a border wall could cost the most for California, Hawaii and Maryland -- three of the 16 states suing to block the declaration.
Houston's Mayor Loves to Make Deals. Not Everybody’s Happy.
Sylvester Turner’s focus on consensus-building has earned him praise -- and criticism.
The Slow Housing Market Can Hurt Government Revenues, But Doesn't Have To
How much home sales impacts a place depends a lot on its property tax policies.
With Amazon Out of New York, Some Lawmakers Seek Multistate Ban on Corporate Tax Breaks
Lawmakers in at least a half-dozen states are considering forming a compact in which they would agree to end efforts to lure companies with tax incentives.
The Inequality of Urban Investments
A new study of Baltimore shows that private capital is more often spent in low-poverty places that don't need it as much.
These Pension Funds Invest Millions in Private Prisons
The American Federation of Teachers wants public pensions to dump their holdings in private prison companies. But some argue politics shouldn't guide investment decisions.
What Polarized Government Means for Tax Policy in 2019
A total of 37 states are under one-party control. While that usually means legislation moves quickly, it doesn't always equate to better fiscal policies.
On Eve of Super Bowl, Sports Betting Heats Up in 7 States
For the first time in some states, people can bet on the football championship game. Will it result in the revenue boost officials are hoping for?
Shutdown Cost the D.C. Region Nearly $200 Million in Tax Revenue
It's not the only place where government coffers might have taken a hit.
State Revenues Take a Hit
Income tax collections are down in several states compared to a year ago. Some worry it's a sign of things to come.
The 10 States That Give More to the Feds Than They Get Back
Connecticut tops the list of states whose taxpayers receive the least bang for their buck from the feds.
As Retiree Health-Care Costs Soar, Public Employers Turn to Private Insurers
Retiree health care is one of the fastest-growing line items in government budgets and, in response, some governments are scrapping their traditional health plans.
A State-Run Bank for Marijuana Money? Not So Fast.
The idea is gaining popularity as a way to get around federal laws that ban banks from handling cannabis businesses' money. But a new report pans the idea.
In Kentucky, Pension Reform Fails (Again)
Despite going into special session, lawmakers still don't have a solution for the least-funded pension system in the nation.
Who's Your Governor? 1 in 3 Americans Don't Know.
A new survey reveals how little the public knows about their state government. Media coverage is partly to blame.
3 Ways Tax Reform Has Impacted the Muni Market
Observers thought the federal law would stifle the sale of municipal bonds -- and in effect infrastructure projects. But it hasn't been that bad.
With Revenues Soaring, States Are Spending More. But on What?
The bulk of the funding boosts are going toward education and rainy day savings.
Is the Next Recession Near? 2 Ways to Know
Economists say the unprecedented period of economic growth may be coming to an end.
Should Pensions Own Utilities? Congress Has Considered It Before.
The idea has advantages for pensions and is likely to be attractive to places with major pension funding issues.
1 State and 1 County Now Accept Bitcoin. Will Others Follow?
Governments in the U.S. are starting to accept cryptocurrencies, a controversial method of payment that got its start on the dark web.
Kansas City Suburb Headed Toward Default
Platte County, Mo., is being punished for its resistance to bailing out a retail center that opened during the recession and has struggled to make bond payments.
Why States Hoping for Online Holiday Sales to Boost Budgets May Not Get Their Wish
This is the first holiday season since the U.S. Supreme Court allowed states to tax online shopping.
Was Amazon's HQ2 Search a Waste of Time for Cities?
State and local officials devoted thousands of hours, and put other projects on hold, to lure the company.
Federal Tax Reform Fuels Record State Spending
Budget directors are still figuring out how much of the tax law's impact on state revenues was a one-time boost.
Pension Politics: Should States Be Investing in Controversial Companies?
It’s an increasingly divisive question. If the goal is to affect change -- from gun control to climate change -- some argue that to divest is the best, while others believe pensions would have more power keeping their financial stake.
First 'Pay for Success' Project for Veterans Underway
The VA is working with states and cities to use the innovative financing approach to help veterans with PTSD find gainful employment. If it's successful, the payoff for investors is big.
Another Historic Night for Women, and Not Just in Congress
An unprecedented number of female candidates ran for state or local office this year.
How Tax Policies Fared at the Ballot Box
Efforts to raise state taxes largely failed. That wasn't the case at the local level.
What the Aging Population Means for State Finances
One-third of states will be "super-aged" by 2026, weighing down economies and finances for years to come.
Education Funding Concerns Kill Effort to Wean Oklahoma Budget Off Oil
Voters rejected a financial practice already common in most other oil-dependent states.
Oregon Businesses Lose Ballot Attempt to Protect Tax Breaks
Businesses wanted voters to protect exemptions, loopholes and tax breaks that collectively cost the state more than $12 billion a year.
Most States' Tax Systems Worsen Income Inequality
A new report ranks the most and least fair tax systems.
Tulsa Struggles to Make Amends for a Massacre It Ignored for Nearly a Century
The Oklahoma city's "Black Wall Street" was one of the richest African-American neighborhoods in the country. Then whites burned it to the ground.
Not My Netflix or Yoga: A Second State Bans Service Taxes
As service taxes gain favor as a way to raise revenue, there's a growing movement to stop them. Voters in Arizona joined it on Tuesday.
How the New NAFTA Deal Impacts States
The revised trade pact keeps the original agreement's free trade zone intact while placing some new burdens on the auto industry.
States Intent on Taxing Big Pharma Over the Opioid Crisis
Lawmakers want to raise taxes on pharmaceutical companies to help pay for the cost of the opioid crisis. But success has been elusive.
How a State's Age Affects Its Financial Health
The older a state is, according to new research, the more likely it is to have money problems.
Amid Rising Home Prices, Voters Split on Property Tax Reductions
Ballot measures in California and Louisiana sought to protect homeowners from huge property tax spikes.
Pensions Are Shelling Out Billions in Fees -- and It's Not Paying Off
A new report shows pension plan investments are seeing lower returns and are more volatile than ever.
Some States Are Less Prepared for a Recession Than a Decade Ago
But according to two analyses, a majority of states have nearly enough savings to weather a downturn.
Thanks to SCOTUS, States Are Taxing Online Sales. But the Legal Fight May Not Be Over.
In its bid to start collecting a sales tax on internet purchases, Colorado could run afoul of the Supreme Court's ruling.
Voters Lower Cap on Income Taxes in North Carolina
It's one of just two states that limits the income tax rate.
3 Ways Blue States Could Still Get Around Tax Reform
The IRS has moved to block high-tax states from circumventing GOP limits on tax deductions -- but not in every way possible.
A Proposed Tax Hike to Fund Education Kicked Off Arizona Ballot
In an unexpected decision, the Arizona Supreme Court ruled that the ballot measure's wording was misleading to voters.
While Feds Loosen Payday Loan Regulations, Colorado Voters Clamp Down
In a year when the Trump administration is dialing back financial regulations, Colorado becomes the 16th state to limit the notoriously high interest rates on payday loans.
In States With Teacher Strikes, Voters Refuse to Raise Education Funding
The election defeats come at a time when support for raising teacher pay is at an all-time high.
Even When Teams Pay, Stadiums Still Aren't Free for Cities
MLS' Columbus Crew is willing to pay for a new stadium in Austin, but is the Texas city really getting a deal?
States' Capital Budgets Have Become Partisan Battlegrounds
The once-quiet place reserved for technical experts is increasingly being held hostage in political fights.
The Unexpected Cost of Trying to Land Amazon's HQ2
In bidding for the company's second headquarters, many cities may have tipped their hand on tax incentives.
Is Your City Positioned to Weather the Next Recession?
A new report identifies the different factors affecting a city's ability to respond to a fiscal crisis -- and what policymakers can do about it.
Pensions Beat Expectations for 2nd Straight Year
It's been another good year for public pension investment returns. But the gains won't make a big difference in their overall fiscal health.
Affordable Housing Shortage? Massachusetts Might Tax Airbnb to Pay for It.
The state is considering a policy that goes further than most places that tax short-term rental companies.
Berkeley's Bold Bet on Bitcoin
The California city, known for its out-there policies, will be the nation's first to issue municipal bonds using cryptocurrency.
When Newspapers Close, the Cost of Government Goes Up
A first-of-its-kind study looks at how local news outlets shutting down impacts cities' and counties' finances.
4 States Just Sued Over the Federal Tax Law. Here's Why They Might Lose.
Connecticut, Maryland, New York and New Jersey argue that new GOP tax policies violate states' rights and unduly punish their populations.
Raising Taxes Could Be Harder Now in Florida
Voters handed Republican lawmakers a victory by passing a new supermajority requirement to raise taxes. But it's debatable whether it will actually curb tax increases.
It’s Natural Disaster Season. Can Your Government Afford It?
Most states don't know how much they spend on extreme weather events.
Green Bonds Are in High Demand, But Are They a Better Deal?
Green bonds help governments finance environmental projects. It's unclear whether they help governments' finances.
The Red State That's Considering a 'Millionaire's Tax'
The revenue-raising strategy is more common in blue states. So far, four Democratic-controlled states have passed such a tax.
Will Weaker Unions Mean More Money for States?
The Supreme Court dealt a blow to public-sector unions this week. Whether it'll save governments labor costs is debatable.
The New Gold Rush for Green Bonds
Investors are lining up to buy them to fund environmental projects.
Why New Jersey Is Headed for Another Government Shutdown
Even the return to one-party rule hasn't helped the perennial budget battles in Trenton.
Supreme Court Rules States Can Tax Online Sales. What Happens Next?
The landmark decision could boost state governments' revenues by tens of billions of dollars a year. But first, they have to decide how to take advantage of it. Some hope the ruling will spur Congress to pass national rules.
Police Misconduct Is Increasingly a Financial Issue
Lawsuits are costing governments millions, and, in some cases, forcing them to shut down departments.
For State Budgets, What a Difference 6 Months Make
Thanks in large part to a steady economy, states are finishing 2018 better than they expected.
Think Your State Is Ready for the Next Recession? Better Check This Fund First.
State unemployment insurance trust funds were decimated during the last recession. A decade later, many still don't have the funds to weather the next downturn.
For an Increasing Number of Governments, One Credit Rating Is Plenty
A decade ago, most sought two or three ratings before selling their bonds. Not anymore.
Can the IRS Stop States' Tax Reform Workarounds?
The IRS wants to thwart state efforts to avoid the new cap on state and local tax deductions. It's unclear whether that would be legal -- or effective.
How to Calculate What Opioid Overdoses Cost Government
New research provides a formula to help cities and counties know what to expect, financially, when drug deaths spike.
Governments Haven't Had Rules for Revealing Their Private Debt -- Until Now
A new requirement forces states and municipalities to annually report the terms and amount of loans they have taken directly from banks. It's a growing source of financing for many public entities.
Will Seattle's Controversial Tax on Big Businesses Stunt Its Economy?
It's already stirring anger among corporations, and nearby cities are trying to capitalize on that.
Scott Wiener Thinks He Knows How to Fix California's Housing Crisis
Other legislators aren't so sure.
This Illinois Town Is on the Brink of Bankruptcy. How Many Will Follow?
Harvey, Ill., is facing insolvency thanks to its pension crisis. Some say it won't be the only one.
How the Sports Betting Ruling Will Impact State Budgets
The Supreme Court outlawed a federal ban on sports betting on Monday, and some states are poised to capitalize.
Facing Overcrowded Jails, Counties Turn to Voters for Help (Without Much Luck)
County jail populations are booming, even as state prison populations decline. It's forcing some places to turn to the taxpayers for help.
Amid Immigration Crackdown, Local Governments Consider Legal Aid
But should cities and counties be paying for lawyers to help undocumented immigrants facing deportation?
Detroit May Be Out from Under State Oversight, But Its Problems Are Far From Over
The Motor City still has massive debt and pension obligations. Remaining independent will involve a precarious balancing act.
As More Governments Get Hacked, Concerns Grow Over Mounting Costs
The ransom hackers' demand is typically much smaller than what it costs governments to respond.
The Tax Reform Program Many Hope Will Revive Distressed Communities
Previous federal programs to incentivize investment in low-income areas haven't worked. Some are betting this will.
How Cities Fell Out of Love With Sports Stadiums
Major league teams used to get everything they wanted from sports-mad cities. Now they have to fight for it -- and increasingly, they’re losing.
Are Small Businesses Really the Backbone of the Economy?
Two economists argue that they aren't. Instead, they say, policymakers should focus on larger employers.
Why Low-Tax States Could Come to Dislike the New Tax Law, Too
Up until now, high-tax states have complained the most.
Governments Increasingly Tax Uber and Lyft for Transit Revenue
Ride-hailing services are crying foul. But cities and states say they’re merely taxing services.
Teacher Protests and Strikes Are Winning Historic Tax Hikes
Oklahoma is now the second state to reverse course on tax cuts in favor of boosting teacher pay. Will Arizona be next?
The Controversy Surrounding a Fast-Growing Clean Energy Loan Program
It's meant to help property owners afford energy-efficiency upgrades. But some have concerns over lending standards and consumer protections.
What's in the Congressional Spending Bill for States and Localities
Several major programs -- some that the White House aimed to eliminate -- will get a significant funding boost. President Trump signed the bill hours after threatening to veto it.
Despite New Rules to Disclose Corporate Tax Breaks, Just Half of Local Governments Are
The regulations that took effect this year let governments decide what's worth reporting, leading many to not report anything at all.
3 Things in the Banking Deregulation Bill That State and Local Governments Should Know
The first major bipartisan banking bill since Dodd-Frank has some potential pluses and minuses for states and localities.
New Steel and Aluminium Tariffs May Impact Red States the Most
President Trump's "Buy American" policies are expected to cause the most harm to states such as Florida, Michigan and Texas.
Betting on Sports Gambling Becoming Legal, States Up the Ante
In case the Supreme Court legalizes it this summer, states are racing to take advantage of the new revenue. But it likely won't be the jackpot they're hoping for.
In World's Most Expensive City for Building, an Attempt to Lower Costs
Congress and the state of New York are trying to bring down the infrastructure bills. But what's making them so high?
The Public Startup Charting Bold New Waters
Water utilities are struggling to lower their operation costs and simultaneously meet stricter environmental rules. Blue Drop, the brainchild of DC Water’s former leader, wants to help.
How One County Put a Number on the Opioid Crisis
Hennepin County, Minn., did a deep dive into what it was spending on the opioid crisis. The numbers were alarming.
Promising Billions to Amazon: Is It a Good Deal for Cities?
A review of the 20 finalists finds that several are already forgoing hundreds of millions of dollars in potential revenue each year and might not be able to afford to give up more.
Tax Reform Isn't Over -- Here Come the States
States are exploring tax changes in response to the federal overhaul. The proposals in Iowa and New York this week may just be the tip of the iceberg.
What the Federal Budget Deal Means for States and Localities
After a brief shutdown on Friday, the House voted just before dawn on a two-year spending plan.
The Federal Shutdown's Impact on States and Localities
Programs that help the most vulnerable populations -- including food stamps, cash welfare and child care -- are most affected.
How Much Is the Opioid Crisis Costing Governments?
Some of its expenses are easy to quantify. But most aren’t.
What's Blockchain Technology, and Why Are States Hesitant to Adopt It?
At a time when most government agencies are only vaguely aware of the technology, Colorado could become an early adopter.
The Week in Public Finance: Nassar Scandal Could Prompt MSU Downgrade, Tax Reform in the States and Green Bond Growth
A roundup of money (and other) news governments can use.
3 States Plan to Sue Over New Tax Law. Here's Why They Might Lose.
Connecticut, New York and New Jersey say that GOP tax policies unduly punish their populations. Some doubt whether their claims would stand up in court.
Women Mayors on #MeToo: 'We Have a Responsibility'
At the U.S. Conference of Mayors meeting this week, a panel of female mayors gathered to discuss the movement's impact on them and the way they lead their communities.
The Week in Public Finance: Cities in the Red, Puerto Rico Lowers Expectations and Second-Guessing Tax Reform Windfalls
A roundup of money (and other) news governments can use.
Tax Reform and Uncertain Economy Driving State Budget Proposals
It's a big election year, and legislative agendas won’t be focused on raising revenue.
The Week in Public Finance: Feds to Revisit Payday Loan Restrictions, a Pot Appeal and a Better Way to Do Property Taxes
A roundup of money (and other) news governments can use.
The Week in Public Finance: Deficits in 25 States, Exxon Sues California Localities, and New Jersey's Lottery Claim
A roundup of money (and other) news governments can use.
Thousands Rushed to Prepay Their 2018 Property Taxes
But there's uncertainty about whether the IRS will accept the workaround.
The Week in Public Finance: Tax Reform Hits Muni Market, California Plays Tax Games and Local Pensions Do Better Than State
A roundup of money (and other) news governments can use.
The Week in Public Finance: State Revenues Stabilizing, Pension Liabilities Climbing and Lost Sales Tax Revenues
A roundup of money (and other) news governments can use.
Tired of Tax Reform? 3 Other Public Finance Trends to Watch in 2018
For one, many states have to figure out how to manage their marijuana revenue.
How the Tax Bill Will Change Governments’ Borrowing Costs
Key provisions will likely increase states and localities' current debt load and make it more expensive for them to borrow in the future. The bill's impact on supply and demand in the municipal bond market, however, is unclear.
As Los Angeles Overhauls Procurement, 2028 Olympics Will Provide Major Test
The city hopes to involve minority firms in a big way -- but there are major hurdles it must first overcome.
The Week in Public Finance: Tax Reform Games, a Mad Rush to Issue Muni Bonds and Pension Fees
A roundup of money (and other) news governments can use.
State Spending Grows at Lowest Pace Since Great Recession
Amid uncertainty about federal tax reform, states are exercising caution with their fiscal 2018 budgets.
This Clean Energy Home Loan Program Has Problems. California's Trying to Fix Them.
The state has passed unprecedented regulations to protect borrowers from taking on debt they can't afford to pay back.
The Week in Public Finance: Deduction Loss May Cause Real Pain, the St. Louis Blues Win and Working Around Bad Ratings
A roundup of money (and other) news governments can use.
In School Funding Court Battles, There's Been a Winning Shift
The legal strategy to get states to provide adequate education funding has changed -- and it's working in schools' favor.
Chicago Confronts Procurement Reform and Finds the Hardest Part Still to Come
The Windy City is ahead of most places when it comes to making improvements to the way it buys goods and services. But the city's biggest challenge still lies ahead.
The Week in Public Finance: Controversy at the Consumer Protection Agency, Education Funding Still Lags and Tax Reform's Blow to Puerto Rico
A roundup of money (and other) news governments can use.
Amid Budget Crisis, Oklahoma Governor Bans 'Swag' Spending
Gov. Mary Fallin’s office estimates state agencies spend up to $58 million a year on monogrammed giveaways like key chains, pens and stress balls.
The Week in Public Finance: Trump's Impact on Trade, a Predatory Lending Loophole and More
A roundup of money (and other) news governments can use.
Despite Slow Revenue Growth, State Spending Is Picking Up
The increase in annual spending is largely due to rising health-care costs and increased investment in transportation.
The Week in Public Finance: The Senate's Tax Reform Plan, Election 2017's Impact on Spending and More
A roundup of money (and other) news governments can use.
Election 2017 Was a Historic Night for Women
Minority and LGBTQ women, in particular, scored big victories in state and local races across the country.
States' Financial Practices Get Graded
And the report card isn't good: Most states failed to balance their budgets without resorting to one-time fixes or underfunding pensions, among other violations.
Texans Loosen Regulations That Protected the State During Foreclosure Crisis
The ballot measure was widely supported by lenders and real estate agents. Critics warn that it's “a wolf in sheep’s clothing.”
Pension? Not for Corrupt Lawmakers Anymore in New York.
Voters easily passed a ballot measure allowing judges to strip pensions from any public servant convicted of a job-related crime.
GOP Tax Plan Puts Billions in Muni Market Savings at Risk
State and local stakeholders were blindsided by an aspect of the tax bill that would eliminate tax-free financing for many large government projects.
The Week in Public Finance: The Cost of the Opioid Epidemic, Connecticut's Budget and a Disaster Relief Bond
A roundup of money (and other) news governments can use.
Even One-Party States Are Having Budget Battles This Year
Oklahoma's money problems represent a larger trend in state government.
The Week in Public Finance: Tax Reform Fast-Tracked, Puerto Rico's Cleanup Mishap and the Pension Penalty
A roundup of money (and other) news governments can use.
In New York, Corrupt Lawmakers May Soon Have to Forfeit Pensions
A ballot measure would allow judges to strip pensions from corrupt public servants. But ethics watchdogs say the measure is little more than window dressing.
The Week in Public Finance: Hartford Nears Default, Columbus Soccer Threatens to Move and More
A roundup of money (and other) news governments can use.
Will Texans Loosen Restrictions That Buffered the State From the Foreclosure Crisis?
Come November, voters will weigh in on a ballot measure that relaxes rules on home equity loans.
Is Your State Ready for the Next Recession? Chances Are, It's Not.
A new report says one-third of states will face severe fiscal stress during the next economic downturn.
The Week in Public Finance: California's Wildfires, Illinois Going Into More Debt and Kentucky Embraces P3s
A roundup of money (and other) news governments can use.
As Towns Ban Pot, States Withhold Legalization's Profits
Massachusetts is deciding whether to keep marijuana tax revenue from anti-pot municipalities, stirring a debate that some states have already settled and others may face in the future.
With Little Cash, How Will Puerto Rico and the Virgin Islands Rebuild?
They both had bleak financial outlooks even before the hurricanes hit.
The Week in Public Finance: Trump's Tax Reform Proposal, the Foxconn Deal and More
A roundup of money (and other) news governments can use.
Taxpayers Have Their Own Bill of Rights in Colorado. But Who Benefits?
The unique anti-tax tool has defined spending in the state, and it may spread to more states.
Feds to Crack Down on Payday Lenders and the Debt Trap They Set
The highly anticipated rules might spur lenders to lobby states to loosen their own laws.
The Week in Public Finance: Latest Repeal and Replace Proposal Still Damaging for States, Pennsylvania's Downgrade and More
A roundup of money (and other) news governments can use.
Is Connecticut to Blame for Hartford's Looming Bankruptcy?
The state's way of governing may be causing some of its capital city's financial problems.
The Week in Public Finance: Troubling Economic Update, Major Online Tax Ruling and More
A roundup of money (and other) news governments can use.
As U.S. Economy Improves, Cities May Be Headed for Another Downturn
Cities still haven't recovered from the recession, and a new report concludes that they might instead be sliding into another fiscal contraction.
The Week in Public Finance: Puerto Rico's Double Disaster, the Cost of Ending DACA and More
A roundup of money (and other) news governments can use.
Why a Record Number of States Passed Budgets Late This Year (If at All)
Politics and finances are largely to blame. But some say it's a trend not worth worrying about.
The Week in Public Finance: Predicting Harvey's Fiscal Impact and More
A roundup of money (and other) news governments can use.
In Kentucky's Drastic Pension Reforms, No One Would Be Spared
Previous attempts to address the state's pension crisis haven't gone far enough. This time around, past, present and future employees could take a hit.
The Next Big Technology to Transform Government
It's called blockchain. Some say it will have a bigger impact than the internet.
The Week in Public Finance: Higher Ed's Lost Decade, Straining Connecticut's Localities and Pension Choices
A roundup of money (and other) news governments can use.
Governments Are Turning to Banks for Easy Money
States and localities say direct loans aren't as much of a hassle as issuing bonds. That may be true, but they're also riskier.
The Week in Public Finance: A Hockey Brawl in St. Louis, New Jersey's Pension Plan and Another Illinois Impasse
A roundup of money (and other) news governments can use.
The Week in Public Finance: Bankruptcy Looms in Hartford, Worries About the Sales Tax and Puerto Rico's Many Defaults
A roundup of money (and other) news governments can use.
The Hidden Wealth of Cities
To find it, a new book says, localities need look no further than their roads, airports and convention centers.
The Week in Public Finance: Tardy State Budgets, Philly's Soda Tax Sputters and Raising the Debt Ceiling
A roundup of money (and other) news governments can use.
Pension Plans Had a Great Year, But Retirees Likely Won't Benefit From It
One good investment year isn't enough to fix struggling systems' problems.
Legal or Not, States Forge Ahead With 401(k)-for-Everyone Plans
Congress jeopardized the future of state plans to help private employees save for retirement. States don't seem to care.
The Week in Public Finance: Alaska Downgraded, Low Income-Tax Revenues and Congress Meddles in Online Sales Taxes Again
A roundup of money (and other) news governments can use.
States Get Creative on Pension Funding
The latest plans in California and New Jersey have observers asking: creative solution or accounting gimmick?
The Week in Public Finance: Lobbying Congress on the 'Tax Perk,' Chronic Deficits and the Credit Threat in Illinois
A roundup of money (and other) news governments can use.
The Week in Public Finance: Late Budgets, Illinois' First in Years and Risky Pension Investments
A roundup of money (and other) news governments can use.
Immigrants Cost Taxpayers, Then Pay More Than Most
New research shows immigrants ultimately make state and local governments more money on average than native-born Americans.
The Week in Public Finance: Alaska Avoids Its Problems, More Health-Care Pain and Municipal Defaults Are Up
A roundup of money (and other) news governments can use.
Is Illinois on the Brink of a Financial Armageddon?
The state's lawmakers have until the end of the week to pass a budget -- something they haven't been able to do in years. If they don't, the consequences are dire.
The Week in Public Finance: Bleak Pension Forecasts, Down on Stadium Debt and More
A roundup of money (and other) news governments can use.
Uncertain of the Future, States Save and Save Some More
Governors and legislatures are keeping spending growth at its lowest level since the recession to make sure they're prepared for the next one.
The Week in Public Finance: A Rate Hike, Unpredictable Taxpayers and Stress-Testing Budgets
A roundup of money (and other) news governments can use.
The Week in Public Finance: Kansas' Experiment Ends, Alaska Still Has No Budget and Keeping Track of Debt
A roundup of money (and other) news governments can use.
Can a Cyberattack Cause a Credit Rating Downgrade?
While it seems far-fetched, the danger is real for small governments.
The Week in Public Finance: Pension Reform in Texas, Fitch Lowers Expectations and Illinois Downgraded Again
A roundup of money (and other) news governments can use.
In Scranton, Pa., Fiscal Progress Comes With Political Costs
The city is on the brink of making a speedy turnaround. Many worry that the tough financial decisions it took to get there could reverse some of its political progress.
The Week in Public Finance: The Trump Budget Edition
A roundup of money (and other) news governments can use.
Nation's Least-Funded Schools Get What They Pay For
Education funding has yet to bounce back from the recession in many states. But nowhere is the situation more dire than in Oklahoma.
The Week in Public Finance: Recalculating Pension Debt, Hartford Discusses the 'B' Word and Prudent Rainy Day Policies
A roundup of money (and other) news governments can use.
Fresh Off Another Downgrade, Connecticut Has a Plan to Lower Borrowing Costs
But observers disagree about whether it will work.
The Week in Public Finance: Revenue Relief in 2018, Good GDP News and the Debt-Shy
A roundup of money (and other) news governments can use.
Why Few Cities Will Take the Supreme Court Up on Their Right to Sue Banks
Last week's ruling leaves open a key legal question that could make cities unlikely to file suit.
The Week in Public Finance: Puerto Rico's Quasi-Bankruptcy, Congress Meddles With State Retirement Plans and More
A roundup of money (and other) news governments can use.
The Worrisome Relationship Between Population Projections and State Spending on Kids
A new study confirms a long-held assumption but also reveals a potentially big problem for the future.
The Week in Public Finance: Trump's Tax Plan, the Tampon Tax and Calling Out the SEC
A roundup of money (and other) news governments can use.
Amid Shutdown Talk, States and Cities Seek Clues to the Future
Whether and how Congress passes a budget this week could indicate what's to come when negotiations start for the next year, which will be the first full budget under President Trump.
The Emerging Strategy for Capitalizing on Women's Unprecedented Interest in Politics
Women have mobilized in large numbers to run for office before. Women-in-politics advocates want to make sure it's sustainable this time.
The Week in Public Finance: Ballmer's Data Trove, Grading Pension Health and a New Muni Bond Threat
A roundup of money (and other) news governments can use.
As the Clock Ticks, Senate Stalls on State-Run Retirement Plans
Congress could overturn a rule that allows states to create private-sector retirement programs. But it only has a limited time to do it.
The City Managers on a Constant Quest for New Places to Fix
Their discontent with the status quo and attraction to a big challenge has led to some unexpected moves from city to city.
The Week in Public Finance: Pay to Play, High Investment Fees and the Small Business Credit Crunch
A roundup of money (and other) news governments can use.
The Week in Public Finance: States Warned of 'Profound Shift' in Finances, Hurting in Illinois and More
A roundup of money (and other) news governments can use.
This Infrastructure Program Ended Up Costing Governments Millions. Trump Might Bring It Back.
States and localities are wary of the president's support for the Build America Bonds program.
How to Beat Teacher Burnout: With More Education
A continuing education program for teachers has the power to reduce attrition rates, but it's having trouble catching on.
The Week in Public Finance: Bad Balancing Acts, Best Taxpayer ROI and Double Taxation
A roundup of money (and other) news governments can use.
The Week in Public Finance: Detroit's Big Pension Plan, Debating the Pension Crisis and Counties Under the Gun
A roundup of money (and other) news governments can use.
John Arnold: The Most Hated Man in Pensionland
The billionaire philanthropist has vowed to secure retirement for public employees. So why do so many public employees despise him?
States Go Old School to Fight Tax Fraud
D.C. and more than a dozen states are shunning paperless refunds to avoid being conned out of hundreds of millions of dollars.
The Week in Public Finance: Trump's Budget, the CBO on Health Care and Accounting for Higher Ed
A roundup of money (and other) news governments can use.
The Week in Public Finance: Paying for Repeal and Replace, SEC's New Disclosure Rule and the Online Sales Tax Fight
A roundup of money (and other) news governments can use.
How Refinancing Debt Can Help Pensions
North Carolina wants to use existing low rates to shore up retiree pensions and health-care debt.
The Week in Public Finance: Oil State Woes, Why 401(k)s Might Not Be For All and More
A roundup of money (and other) news governments can use.
How Libraries Are Fighting Fake News
Fake news is as old as Bigfoot. But social media and the president have fueled its recent proliferation.
The Week in Public Finance: Pensions Protest Bathroom Bills, a Billion-Dollar Showdown in Kansas and More
A roundup of money (and other) news governments can use.
The Real Price of College
Most states don't keep track of how much they give to students and their families in tax breaks. That could be hurting their ability to make college affordable for all.
The Myth vs. the Truth About Regulating Payday Lenders
When state laws drive so-called "debt traps" to shut down, the industry moves its business online. Do their low-income customers follow?
The Week in Public Finance: Diverging County Economies, Treasurers Talk Trump and Sanctuary City Threats
A roundup of money (and other) news governments can use.
From $37 to $339,000: Why the Price of Public Records Requests Varies So Much
The laws about public records differ from one government to the next and are further complicated by some technologies, like police body cameras.
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The Week in Public Finance: Battling Over Retirement, Gorsuch on Online Sales Taxes and Fiscal Irresponsiblity
A roundup of money (and other) news governments can use.
No 401(k)? No Problem. States Have You Covered.
Several states are preparing to offer a retirement plan that helps private-sector workers -- and taxpayers -- save money.
The Week in Public Finance: States Vulnerable to NAFTA Changes, New Amazon Taxes and a Credit Ratings Spat
A roundup of money (and other) news governments can use.
The Week in Public Finance: What We Don't Know About Sanctuary Cities' Funding, New Reasons to Save and More
A roundup of money (and other) news governments can use.
Despite Budget Shortfalls, Some Governors Call for Tax Cuts
In addition to new tax breaks, some states are also considering raising gas and sin taxes.
The Week in Public Finance: Hartford in Crisis, Pension Rates Move Down and More
A roundup of money (and other) news governments can use.
The Week in Public Finance: Trump's Infrastructure Plan, Risky Pensions and NYC's Surprising Fiscal Health
A roundup of money (and other) news governments can use.
Have States Reached Their Savings Limit?
After several years of growth, the amount states are socking away in rainy day funds has slowed.
The Week in Public Finance: Repealing Obamacare, How a California Ruling Threatens Pensions and More
A roundup of money (and other) news governments can use.
In Phoenix, Women Are Breaking Public Safety's Glass Ceiling
The city has an unusually high number of women in leadership positions, even in male-dominated departments like police and fire. Why is that?
The Income Gap Between Black and White Men Is Getting Worse
Contrary to popular belief, a new study shows there's been almost no progress over the last 70 years.
5 Hot Topics Hitting Public Finance in 2017
In what could be a tumultuous year for state and local finances, these five issues are likely to take center stage.
A Budgeting Break for Small (and Big) Governments
With less people and money, small towns are prone to making big and expensive errors. One company wants to change that.
Fighting Sex Trafficking Is Harder Than It Seems
More than half the states have passed laws to protect victims, but the laws aren’t always enforced and often produce new challenges.
The Week in Public Finance: What the Rate Hike Means, a Legal Win for Online Sales Taxes and More
A roundup of money (and other) news governments can use.
Startups Seek to Democratize the Muni Market
They're bringing in new investors, big and small, to disperse the power and lower interest rates. It's already paying off for some governments.
Budget Shortfalls Expected in the Most States Since Recession
Almost half the states cut their budgets this year, and that trend is likely to continue into 2017.
The Week in Public Finance: Federal Budget Chaos, a Bankruptcy Win and Pension Portfolios
A roundup of money (and other) news governments can use.
What We Don't Know About Trump's Carrier Deal (and Most States' Business Deals)
Lawmakers almost never know a company's full tax picture when they sign away corporate tax credits. That's unlikely to change any time soon.
To Prepare for the Next Recession, States Take Stress Tests
No government can be fully prepared for every economic twist and turn. Still, some are trying.
The Week in Public Finance: A Run on Pensions in Dallas, Connecticut's Warning and a Threat to Muni Bonds
A roundup of money (and other) news governments can use.
The Week in Public Finance: Trump's Impact on Muni Bonds, Panning Social Investing and More
A roundup of money (and other) news governments can use.
Facing Weak Revenues, States' Spending Growth Slows
A new NASBO report cites a volatile stock market and modest national economic growth for the slowdown.
What a Trump Presidency Could Mean for State and Local Finances and More
A roundup of money (and other) news governments can use.
This Government Bond Insures Against Failure
The first-ever environmental impact bond gives an agency some of its money back if its idea doesn't pan out.
The Week in Public Finance: NYC's $3 Billion in Giveaways, Weak Revenues and Jacksonville's Pension Fix
A roundup of money (and other) news governments can use.
Voters Give Georgia's Plan to Take Over Failing Schools an "F"
As other states launch similar plans to improve education, Georgia is back to the drawing board.
The Week in Public Finance: Petitioning for Bankruptcy, Lost Airbnb Revenue and Downgrading New Mexico
A roundup of money (and other) news governments can use.
Arkansas, California Voters Approve Spending on Mega Projects
In an anti-debt climate, voters in the two states cleared the way for spending on major economic development projects.
The Week in Public Finance: School Funding's Lost Decade, Teacher Pension Pressures and More
A roundup of money (and other) news governments can use.
Pleas for More Education Funding Fall Short on Election Day
Voters in two states rejected measures that would have raised taxes -- either for consumers or corporations.
City Revenues Expected to Finally Recover From Recession
But cities are still dealing with slow revenue growth and rising costs, according to a new report.
The Week in Public Finance: New Jersey's Tax Plan, Online Lending Myths and Cities' Recovery
A roundup of money (and other) news governments can use.
A Sneak Peek of the Seismic Shift in Corporate Tax Breaks
New rules are forcing states and localities to calculate how much revenue they’re losing to business deals -- and whether they pay off. It’s something Washington state has been doing for a decade.
Privatization May Be Worsening Inequality
A new study suggests outsourcing government services can disproportionately impact low-income users' finances, health and safety.
The Week in Public Finance: Wells Fargo's Punishment, a Surprising Study and Kansas' Forecasting Blues
A roundup of money (and other) news governments can use.
Bilingual Education Will Make a Comeback in California
The state, which has more English-language learners than any other, restricted bilingual education in the '90s. Voters are bringing it back.
Houston’s Plan to Cut Pension Costs in Half Overnight
Mayor Sylvester Turner is garnering praise for his proposal's comprehensiveness and balance.
The Week in Public Finance: Troublesome Sports Arenas, Buying Muni Bonds and California's Tenuous Recovery
A roundup of money (and other) news governments can use.
The Week in Public Finance: Pensionomics, Hidden Bank Loans and Private Equity Fees
A roundup of money (and other) news governments can use.
Pension Crisis: Could Buyouts Be a Solution?
State and local governments are trying unconventional ways to fund their pension liabilities, such as offering lump-sum cash payments to employees.
The Week in Public Finance: Unsustainable Health-Care Costs, an Oil State Not in Crisis and More
A roundup of money (and other) news governments can use.
New Jersey Voters Refuse to Build Casinos Outside Atlantic City
With Atlantic City in financial crisis because of casino closures, the state's voters aren't willing to take any more gambles.
The Week in Public Finance: Mega-Subsidies Math, a Comeback for Bond Insurance and More
A roundup of money (and other) news governments can use.
Big-Box Stores Battle Local Governments Over Property Taxes
The retailers are deploying a ‘dark store’ strategy that’s hurting cities and counties around the country.
Missouri Passes Nation's First-Ever Ban on Services Sales Taxes
As states increasingly try to tax services like Netflix and yoga, Missouri voters have decided to keep that from ever happening. How that will impact consumers is unclear.
The Week in Public Finance: Pensions' Funding Gap, An Assault on Fees and More
A roundup of money (and other) news governments can use.
SEC Censures 71 Governments for Lack of Fiscal Transparency
Financial timeliness is a problem that's 'widespread and pervasive,' the SEC said.
The Story Behind San Bernardino’s Long Bankruptcy
Unlike Detroit or Stockton, this California city’s insolvency can’t be blamed on debt or pensions.
The Week in Public Finance: Demanding Better Government Disclosure, Uneven Recoveries and a Party at the Pump
A roundup of money (and other) news governments can use.
Facing 652% Interest Rates, South Dakota Voters Regulate Payday Lending
They joined the growing number of states that regulate the industry that critics say traps poor people in a cycle of debt.
The Week in Public Finance: Why Some Pensions Are Falling Behind, Stress Testing States and More
A roundup of money (and other) news governments can use.
The Benefits of Helping Struggling Cities
For financially distressed municipalities, it’s good to be in a state that intervenes, according to a new study.
The Week in Public Finance: The Netflix Tax, Another Atlantic City Rescue and More
A roundup of money (and other) news governments can use.
Public Pensions Facing Worst Returns Since Recession
A volatile stock market over the past year has taken a toll on public pension assets.
The China Factor in America's State and Local Economies
As the world's second-largest economy falters, pensions and tax revenues here are feeling the pinch.
The Impact of New Overtime Rules on Government
The federal change won’t just hit state and local personnel costs.
The Week in Public Finance: Hot Munis, Cooling Off Creditors and Warming Up to Facebook
A roundup of money (and other) news governments can use.
The Week in Public Finance: Unbalanced Budgets, Alaska's Tax Battle and Creditor Complaints
A roundup of money (and other) news governments can use.
Puerto Rico's Warning for States, Cities: You Might Be Next
Gov. Alejandro Garcia Padilla said the island's rescue might simply be a harbinger of things to come on the mainland.
The Week in Public Finance: States in Recession, Higher Ed Winners and Losers, and Virtual Retirement
A roundup of money (and other) news governments can use.
The $4.3 Billion That States and Localities Are Missing Out On
Economic output would get a big boost if more women were in the workplace. A new report shows how far places have to go to close that gap.
Is Kurt Summers the Future of Chicago Politics?
The city’s young treasurer has turned a moribund office into a hive of activity, fueling speculation that he has higher aspirations.
The Week in Public Finance: Rescuing Puerto Rico, Brexit Fallout and Minimum-Wage Trends
A roundup of money (and other) news governments can use.
Who Should Police Municipal Markets?
A questionable bond sale in Illinois has left some wondering why there's no one to stop financially troubled governments from borrowing.
The Week in Public Finance: What Brexit Means for Muni Bonds, Pension Projections and More
A roundup of money (and other) news governments can use.
After Milestone Year of Recovery, State Spending to Slow
States' overall budgets finally surpassed pre-recession peaks this year -- but not everywhere.
The Week in Public Finance: Defending Wall Street Fees, Ranking Property Tax Rates and More
A roundup of money (and other) news governments can use.
Things You Didn't Know About Detroit's Historic Bankruptcy
Nathan Bomey, author of a new book on the largest Chapter 9 filing in U.S. history, reveals the unsung heroes and true timeline of the event.
The Week in Public Finance: Punishment for Illinois, Budget Battles and New Jersey's Win
A roundup of money (and other) news governments can use.
Cost of Tax Breaks for States, Localities May Be Exposed
If approved, a new rule would make it easier for groups to challenge the tax exemptions that state and local governments get from the feds.
The Week in Public Finance: A Demand for Diversity in the Board Room, Bad Credit News and More
A roundup of money (and other) news governments can use.
Nonprofits' Tax-Exemption Battle Moves to the Courts
Legislative attempts to tax nonprofits have fallen short. But recent legal challenges could present a financial problem for nonprofits and a financial boost for governments.
How Zika Could Infect the Municipal Bond Market
Even if an area has no cases of the virus, it could feel a financial impact.
The Week in Public Finance: Special Sessions, Chicago's Pension Deal and a Historically Giant Tax Break
A roundup of money (and other) news governments can use.
The Hidden Wall Street Fees That Could Be Costing Pensions $20 Billion a Year
A new report says the fees pension plans pay private equity and hedge fund managers aren't worth it.
The Week in Public Finance: Muni Credit Trends, the Next Round of Tax Reforms and More
A roundup of money (and other) news governments can use.
1 City, 2 States and a Fight for Jobs
Nowhere are tax incentives more complicated -- and some say pointless -- than in Kansas City.
The Week in Public Finance: A New Pension Trend, a Last-Ditch Effort to Hold Lenders Accountable and More
A roundup of money (and other) news governments can use.
In South Dakota, a Test Case for Online Sales Taxes
Provoked by legislators, online retailers have filed a lawsuit against the state that could have taxing consequences nationwide.
The Week in Public Finance: Broke Puerto Rico, Slow Financial Disclosures and Trouble in Kansas
A roundup of money (and other) news governments can use.
Alabama’s One-Man Pension Show
He’s not the governor. He’s not a lawmaker. But thanks to the way he runs his state’s pension plans, David Bronner may be the most powerful man in Alabama.
Pension Envy: Lessons From Well-Managed Plans
Bad press has blurred the fact that not all public pension plans are underfunded and overly generous.
In Online Sales Tax Fight, States Adopt New Tactics
States are passing laws that -- they hope -- will lead to lawsuits that land the issue before the U.S. Supreme Court.
The Week in Public Finance: CalPERS' Rethinks Tobacco Divestment, Fact-Checking Illinois' Exodus and Income Recoveries
A roundup of money (and other) news governments can use.
Term Limits Don't Lead to More Women in Politics
Term limits were billed as a way to get more women to run for office. It hasn't worked out that way.
Illinois May Target Predatory Lending to Small Businesses
A first-in-the-nation bill would regulate loans made to small businesses by alternative lenders mostly found online.
The Week in Public Finance: Puerto Rico Drama and a Corn-y Kind of Tax Credit
A roundup of money (and other) news governments can use.
College Savings Accounts Aren’t Just About the Money
Missouri's treasurer says 529 programs are only one piece of the college puzzle.
Panama Papers Unlikely to Lead to Reforms in Corporation-Friendly States
A recent document leak revealed that four states were targeted by a Panamanian law firm to hide assets.
Municipal Bond Market Faces New Pressure
A new federal rule could make it more expensive for governments to issue debt in a financial crisis.
The Week in Public Finance: Rating Downgrades, the War on Cities and More
A roundup of money (and other) news governments can use.
Too Much Pension Pressure? A Missing Opportunity to Fix Government Finances
Most places focus on pensions for cost-cutting. But a new study argues it would be easier for governments to reduce the collective $1 trillion they owe in retiree health care.
As Pension Prospects Worsen, Lawmakers Spar Over Nation's Worst-Funded Plan
Nowhere are the problems with pension funding more evident than in Kentucky, where the state lost millions because of the stock market. Lawmakers are now debating how to recover.
The Week in Public Finance: Court Strikes Down Chicago Pension Reforms, Pennsylvania Ends Budget Standoff and More
A roundup of money (and other) news governments can use.
A New Twist on ‘Pay for Success’ Programs
A variation on the existing model would provide a money back guarantee should a project fail.
Chicago’s Shockingly Bad Finances
You’ve probably read about the Windy City’s money problems. But chances are they're worse than you thought, and a recent ruling didn't help.
The Week in Public Finance: Good and Bad News for Pensions and for Atlantic City
A roundup of money (and other) news governments can use.
Pension Fund Takes Unprecedented Climate Action
Instead of divesting from oil companies, the nation's largest pension fund is trying to make all companies more environmentally friendly from within.
Q&A With Gov. Bill Walker on Fixing Alaska’s Finances
The former businessman talks about betting his political career on fixing the Last Frontier’s finances.
The Week in Public Finance: Pension Buyouts, a New Way to Pay for Family Leave and More
A roundup of money (and other) news governments can use.
The Week in Public Finance: School Shutdowns, Trading Munis and Small Business Lending
A roundup of money (and other) news governments can use.
Congress Creates Caucus to Protect Municipal Finance
The group's top priority will be preserving the tax-exempt status of municipal bonds, which President Obama wants to reduce for higher earners.
Louisiana's Budget Has More Than Just an Oil Problem
Unlike other oil-dependent states, Louisiana has deeper financial issues that began nearly a decade ago after Hurricane Katrina. The legislature is meeting in special session to deal with them.
The Complicated Business of Evaluating Tax Incentives
Massachusetts, like many states, uses tax credits to attract companies. But also like many states, it struggles to track the effectiveness of these programs.
The Week in Public Finance: States Dare Online Retailers to Sue, a Local Government Shutdown Threat and More
A roundup of money (and other) news governments can use.
The Week in Public Finance: Atlantic City’s Intervention, New Pay-for-Success Projects and Arizona's Pension Reform
A roundup of money (and other) news governments can use.
What the Federal Tax Code Reveals About State Revenues
States often adopt the same tax policies as the feds, but should they?
Purchase Power: A Special Report on State Procurement
Procurement is at the heart of almost everything a government does. But states vary widely when it comes to how well they manage the things they buy.
The Week in Public Finance: Contradictory Pension Reports, Brewing Pension Battles and Recession Worries
A roundup of money (and other) news governments can use.
Rethinking the Game Plan for Stadium Financing
Is a 30-year bond realistic when the economic lives of stadiums are proving to be much shorter?
Obama's Last Budget: The Breakdown for States and Localities
The president's budget outlines ambitious spending proposals in health care and infrastructure -- though their likelihood of passing is slim.
Is Paying People Not to Commit Crimes Effective?
Washington, D.C., may offer some people financial incentives to follow the law. It wouldn't be the first.
The Week in Public Finance: A Muni Bond Victory in Congress and a Ukraine-Inspired Idea to Restructure Puerto Rico
A roundup of money (and other) news governments can use.
How Oil States Are Dealing With Sinking Prices and Revenue
The states most dependent on oil tax revenues have different ways of dealing with the industry slowdown.
New Library Tries a Novel Idea: Books
In Seattle, a new private library -- the first of its kind in a century -- is based on the throwback idea of having a quiet place to read.
The Evolving Job Description (and Requirements) of a CFO
Chief financial officers used to be concerned with just balancing the books. But today’s CFOs have taken on a higher role.
The Week in Public Finance: How Budgetless Illinois Still Runs, Spending Cuts Coming and St. Louis' Not-So-Big NFL Loss
A roundup of money (and other) news governments can use.
Having a Rainy Day Fund, But Not Knowing How to Spend It
Some states have millions in savings that they don't know when or how to use. A new report suggests ways to better manage their money.
Kentucky's Cautionary Tale About Underfunding Pensions
With the worst-funded pension system in the country, Kentucky offers a glimpse of what could be in store for other states.
The Week in Public Finance: Stock Market Slumps, Bankruptcy Fears and Credit Problems
A roundup of money (and other) news governments can use.
Economic Recovery Picking Up Pace Across U.S. Counties
Many places that initially struggled to bounce back from the recession are finally seeing progress, but more than 90 percent still haven't fully recovered.
The Week in Public Finance: Powerball Letdowns, GE Tax Wars and a Possible State Takeover of Atlantic City
A roundup of money (and other) news governments can use.
Pension Disputes and the Power of Mediation
In several cities where pension reform has failed, this type of problem-solving has proved beneficial.
The Week in Public Finance: Credit Downgrades, the Growing Life Expectancy Gap and Pennsylvania’s Quasi-Budget
A roundup of money (and other) news governments can use.
The Tougher U.S. Pension Rules in Puerto Rico's Rescue Plan
The proposed changes would mark unprecedented federal authority over state and local pensions and make their financial status look a lot worse.
How Banks Are Feeling Uber's Impact
In cities across the country, the rise of taxicab alternatives like Uber aren't hurting just the taxicab companies.
The Week in Public Finance: 30-Year Predictions, a Win for Pensions Over 401(k)s, and Huge Bond Fees
A roundup of money (and other) news governments can use.
What the Fed Rate Hike Means for the Municipal Market
The Federal Reserve is raising short-term interest rates for the first time in nearly a decade.
One Foot in the Statehouse, the Other in City Hall
For three years, Jesse Ancira Jr. has juggled being a mayor and the top adviser to one of his state's most powerful politicians.
State Spending to Increase for 6th Straight Year
In 2016, states are expected to continue the growth they've experienced since the Great Recession. But the new era of growth is a modest one.
The Week in Public Finance: Problems With Pay for Success, Pension Diversity and Trailblazing Women
A roundup of money (and other) news governments can use.
The Curious Case of Disappearing Corporate Taxes
Over the past two decades, corporations have doubled their profits but contributed increasingly less to state revenues. Where is all the money going?
Public Pensions Challenge Private Equity Fees
California recently revealed that it paid billions in fees to private equity managers, leading several other state pension systems to call for more transparency in such investments.
The Week in Public Finance: Puerto Rico's Crisis, Michigan's Broke Schools and State Budget Battles
A roundup of money (and other) news governments can use.
Black Women Remain Underrepresented in All Levels of Politics
But particularly in statewide executive office positions, which just 10 black women in nine states have ever held, according to a new report.
3 Things New Disclosure Rules Won't Reveal About Tax Incentives
The effectiveness of subsidies is hard to measure. A new rule will make it easier, but there's still a lot of information that governments aren't required to share about business deals.
The Week in Public Finance: Showdown in Puerto Rico, 'Pay For Success' Veto and Alaska's Oil Overhaul
A roundup of money (and other) news governments can use.
Medicaid Drives Biggest State Spending Boost in Decades
States have increased their spending in every major area but two, according to a new NASBO report.
The Week in Public Finance: Splitting Pensions, Going Hyperlocal and Charter Schools' Impact on Credit Ratings
A roundup of money (and other) news governments can use.
The Hidden Cost to ‘Pay for Success’
Nonprofits have discovered a hidden cost in preventative social programs that's keeping many from even trying to start one.
The Week in Public Finance: Florida Migrants, Taxes in Carolina and a Downgrade in Dallas
A roundup of money (and other) news governments can use.
Why Economists’ Predictions Are Usually Wrong
They almost always fail to foresee a recession before it happens. But there are ways they can improve their insights.
Colorado Voters Let State Keep Marijuana Profits
Instead of going into taxpayers' wallets, the revenue the state generated from legalizing pot will go to schools and substance abuse programs.
The Week in Public Finance: The Budget Edition
A roundup of money (and other) news governments can use.
Dispelling the Tax Cut Myth
Many conservatives have long favored supply-side economics. But a new report suggests there is no evidence that income tax cuts lead to economic growth.
Smoking Pot Still Illegal in Ohio
Ohio voters struck down a citizen-led measure that would have made it the first Midwestern state to legalize marijuana. But it won’t be the last time the issue makes it to the ballot.
The Week in Public Finance: Budget Battle Casualities, More Protection for Bondholders and a New Kind of Bankruptcy
A roundup of money (and other) news governments can use.
The Week in Public Finance: A First in Pay for Success Programs, Pension Updates and Puerto Rico's Superhero
A roundup of money (and other) news governments can use.
How Does a Landlocked State Attract a Global Economy?
Utah Gov. Gary Herbert shares why he thinks his state is so competitive in today's tough financial climate.
Louisianans Don't Want to Talk More About Tax Incentives
Several states limit the topic of their legislative sessions every other year to money, and Louisiana voters rejected a ballot measure to add corporate giveaways to that conversation.
The Week in Public Finance: Pension Take Three in California, 'Paid' for Success and Cashing Out
A roundup of money (and other) news governments can use.
Small Businesses Push for Transparency in Online Lending
Denied by banks, small business owners are increasingly turning to alternative lenders for help. But many hide the real cost of doing business.
The Week in Public Finance: Chicago's Shaky Future, the Real Taxpayer Burden and Good News for Retirees
A roundup of money (and other) news governments can use.
Despite Cities' Fiscal Optimism, There Are Reasons to Worry
Municipal finances look stable on paper, but cities still struggle with slow revenue growth and rising costs, according to a new report.
In Louisiana, Voters Want Other Governments to Pay Up
Louisiana voters approved a ballot measure to let local governments tax property in their borders that's owned by another government.
The Week in Public Finance: Saving for Retirement, Governments in Denial, P3 Facts and More Data
A roundup of money (and other) news governments can use.
When Is It Rainy Enough to Tap the Rainy Day Fund?
Many states have rainy day fund policies, but many don't have the right kind of policies. Wyoming is looking to change that.
As Retirees Outnumber Employees, Pensions Seek Saviors
Desperate for more money, public pension systems have been making high-risk investments hoping for a higher profit. But they may ultimately cost taxpayers more.
Why States' Increasing Reliance on Sales Taxes Is Risky
The temptation to cut income taxes and raise sales taxes could leave some states less prepared for an economic downturn than they were for the Great Recession.
The Week in Public Finance: Shutdown Prep, We (Sorta) Love Teachers and Recession Recovery
A roundup of money (and other) news governments can use.
Minimize Political Influence, Maximize Wealth?
A new book explores if putting public assets under professional management leads to greater government wealth.
How the Stock Market Crash Could Impact Interest Rates
The Federal Reserve may rethink raising interest rates for the first time since 2008. But even if it does, it wouldn't be all bad news for governments.
The Week in Public Finance: A Win for Puerto Rico, Readable Financial Statements and Indecision in Illinois
A roundup of money (and other) news governments can use.
How One Government Manager Plans to Get More Women in Power
Women make up nearly half of public-sector workers but just over 10 percent of city managers -- a rate that's barely budged in three decades.
The Week in Public Finance: Blame the Market, New Jersey Love and a Win in Wayne County
A roundup of money (and other) news governments can use.
What Happens When You Start Taxing Muni Bonds?
A new study offers the best data to date on how much the tax exemption on municipal bonds, which are often used to finance sports stadiums, saves state and local governments.
Paid Family Leave Gets New Momentum in States
Politics and funding have often stymied the legislative push to pay employees forced to take time off to care for newborns or sick family members. But attitudes about work-life balance are shifting.
The Week in Public Finance: Downgrades, the Next Recession and Bad Holidays
A roundup of money (and other) news governments can use.
Requesting Public Records? Depending on the State, That Could Cost Money
Tennessee may join the handful of states that charge citizens for seeking public information from the government -- a practice that opponents say hinders transparency.
The Week in Public Finance: Gambling Kansas, Detroit's Lessons and a Different Kind of School Spending
A roundup of money (and other) news governments can use.
How Federal Tax Reform Impacts States
In the past, changes to federal tax policy have led to a number of changes to state tax policies.
The Week in Public Finance: Puerto Rico Makes History
A roundup of money (and other) news governments can use.
After a Few Years Afloat, Pension Plans Start Sinking Again
What's shaping up to be a bad year for pension plans could give ammunition to politicians who want to change how they work and cut employee benefits.
Are Governments 'Paying for Failure'?
A social policy experiment is spreading across the country as a new way to finance, deliver, and improve public services and problems. But its merits are so far unproven.
The Week in Public Finance: Pensions, Hedge Fund Sneakiness and Retirees
A roundup of money (and other) news governments can use.
In Post-Detroit Bankruptcy Era, California Protects Investors Before Pensioners
Before Detroit, many thought general obligation bonds were ironclad. Now they know better.
The Week in Public Finance: Stuck in Puerto Rico, a Muni Medley and the Medicaid Elephant
A roundup of money (and other) news governments can use.
The Week in Public Finance: a $72 Billion Problem, Connecticut Transparency and Economic Malaise
A roundup of money (and other) news governments can use.
States Forge Ahead of Feds to Address Retirement Crisis
As research shows how ill-prepared most working Americans are for retirement, pressure is mounting for states to step in.
The Week in Public Finance: Best and Worst States, More Chicago and the Oil Slump
A roundup of money (and other) news governments can use.
How Cincinnati Got Its Cops to Support Community Policing
After race riots in 2001, Cincinnati's path to police reform required years of dedication and patience. The hardest part was not turning police into scapegoats.
The Week in Public Finance: Several Shades of Bad News
A roundup of money (and other) news governments can use.
The Week in Public Finance: Funding Pensions, Puerto Rico’s Crisis and Dropping Debt
A roundup of money (and other) news governments can use.
What’s Holding Up So Many State Budgets?
With fiscal year 2015 coming to a close, more than a dozen states have yet to strike a budget deal.
The Week in Public Finance: Online Sales Tax, Pension Reform and Getting Real About Ratings
A roundup of money (and other) news governments can use.
The Phone Call That Could Help Governments' Credit Ratings
Some credit ratings agencies actually want governments to call them so they can make their case when things go wrong.
The Week in Public Finance: More Junk Bonds, Mixed Messages and a Sleepy Muni Market
A roundup of money (and other) news governments can use.
4 Reasons N.J.'s Pension Ruling Isn't a Win for the State or Its Employees
A state Supreme Court ruling this week freed Gov. Chris Christie from having to fully fund public pensions.
Why State Budgets Often Aren't As Balanced As They Seem
A new report from the Volcker Alliance shows how states regularly get around balanced budget requirements with accounting gimmicks.
The Week in Public Finance: Pricey Water, Even Pricier Health Care and Paychecks
A roundup of money (and other) news governments can use.
The Week in Public Finance: Negative on Munis, Illinois Breakdown and Natural Disasters
A roundup of money (and other) news governments can use.
Underfunding of Research Offers States an Economic Opportunity
Research and development may be one of the best ways to boost local economies, yet states (and the feds) have slowed spending on it.
The Week in Public Finance: Moody About Ratings, the Worst-Funded Pension and Data Disappointment
A roundup of money (and other) news governments can use.
The Struggle to Tax the Cloud
As the economy shifts from one that relies on goods to one that relies on services, states are finding it hard to capture revenue from constantly evolving technologies like cloud computing.
Supreme Court Ruling on Maryland's Double Income Tax Could Impact Other States and Localities
The court deemed Maryland's local tax on out-of-state income unconstitutional, meaning municipalities will have to pay millions in tax refunds.
The Week in Public Finance: Junk in Chicago, April Surprises and Diversity Rocks
A roundup of money (and other) news governments can use.
Why It Might Finally Get Easier to Access Public Data
Congress is looking into legislation that would make state and local data more accessible.
What Pension Rulings in Illinois and Oregon Could Mean for States
Courts struck down pension cuts twice in the last two weeks, setting the stage for potentially more drastic measures.
The Week in Public Finance: Puerto Rico's Pending Disaster, Slow Government and Shrinking Oil Revenues
A roundup of money (and other) news governments can use.
Unlike Most Redevelopment, Denver's Embraces Its Wild Past
Instead of just turning its underused land into housing and retail like most cities, Denver is building a community that blends its Wild West roots with the 21st century.
The Week in Public Finance: Millennials, Crediting Kids and the Importance of Punctuality
A roundup of money (and other) news governments can use.
After Payday Lenders Skirt State Regulations, Feds Step In
Many hope a new nationwide proposal will finally stop payday lenders from keeping poor people stuck in a cycle of debt.
Has 'Debt' Become a Four-Letter Word?
States and localities are afraid to take on new debt these days, missing a golden opportunity to invest in infrastructure and other long-term projects.
Are Predatory Business Loans the Next Credit Crisis?
Unlike mortgage and payday lenders, the growing number of institutions that offer quick cash to small businesses are still largely unregulated. Chicago is the first trying to change that.
The Week in Public Finance: Bankruptcy Scares, Superdowngrades and Shopping in Pennsylvania
A roundup of money (and other) news governments can use.
What If Americans Invested Stock in Distressed Cities?
Economists have a new idea that could revolutionize how struggling cities attract private funds.
The Week in Public Finance: Money, Pink Floyd and State Revenues
A roundup of money (and other) news governments can use.
How Cities Lose Millions in Federal Funds
A new report examines the ways in which struggling cities mismanage federal grants and offers ideas for fixing it.
The Week in Public Finance: Ranking the States, Vallejo's Recovery and Financial Armageddon
A roundup of money (and other) news governments can use.
The Week in Public Finance: Shaming Indiana, Euro Trip and Rhode Island's Pensions
A roundup of money (and other) news governments can use.
Menstruating While Homeless: An Ignored, Inescapable Issue
The winning idea of a public policy competition addresses a nationwide problem that makes many uncomfortable to discuss: menstruation and female hygiene.
The Week in Public Finance: Taxes, Drought and a Nod to the Baha Men
A roundup of money (and other) news governments can use.
Atlantic City on the Brink of Financial Disaster
America's Playground is running low on cash and faces key debt payments over the next three months.
Debate Rages Around Proposed Tax Incentives Rule
Although scores of public and private groups support the proposal, many say the requirements don't go far enough.
The Week in Public Finance: Jerry Maguire, Saving the Highway Trust Fund and Chicago's Big Problem
A roundup of money (and other) news governments can use.
The Week in Public Finance: Budgeters' Bad Aim, Pension Buzzwords and Connecticut's Warning
A roundup of money (and other) news governments can use.
Why Some Public Pensions Could Soon Look Much Worse
A Governing analysis shows how a new accounting rule dramatically changes some plans' pension liabilities and will likely force many states to finally face their obligations.
Transparency Could Save Governments Billions in Borrowing
Timely disclosure of financial information could save states and localities a lot of money.
Governors Pressure Boehner to Tax Online Sales
As another Marketplace Fairness Act hits the U.S. Senate, supporters are urging the House speaker -- one of the idea's biggest roadblocks -- to do whatever necessary to pass it through Congress.
The Week in Public Finance: Retiree Health Care Facts, New Jersey's Bad Budgets, and Moody's Gives In
A roundup of money (and other) news governments can use.
Cities Paying Millions to Get Out of Bad Bank Deals
Chicago is the latest example of the many local and state governments that are haunted by interest rate swap agreements they made before the Great Recession.
The Week in Public Finance: Public Pensions Edition
A roundup of money (and other) news governments can use.
Low Oil Prices Drain Some But Energize Most Local Economies
The impact of oil's price drop depends on how much a local government relies on the oil industry for revenue and jobs.
What Would You Do With a Budget Surplus?
One Ohio county is rolling in so much extra revenue that it's offering other counties low-interest loans for infrastructure projects.
Despite Kansas' Experience, States Push Big Income Tax Cuts
Even though Kansas’ budget and credit have suffered since enacting massive tax cuts, governors in Maine and Ohio are still pushing similar plans.
The Week in Public Finance: Healthy States, Hospital Debt and Taxing the 1 Percent
A roundup of money (and other) news governments can use.
The Week in Public Finance: Rejection in Puerto Rico, Credit Ratings and Pension Cure-Alls
A roundup of money (and other) news governments can use.
Calculating the Social Cost of Policymaking
Former Maryland Gov. Martin O'Malley, a possible presidential contender, wants more states to adopt a new measurement tool called "net present value plus."
The Week in Public Finance: Haunted Budgets, a Bustling Market and Bad Headline News
A roundup of money (and other) news governments can use.
Pressure Rising for Governments to Disclose Bank Borrowing
Municipalities' increasing reliance on bank deals, which governments can legally hide from investors for more than a year, has spurred calls for better transparency.
What Obama's 2016 Budget Means for States and Localities
The president's budget would be a boon in a host of areas but also includes cuts to popular programs.
The Week in Public Finance: Atlantic City, Volcker Rule Relief and Oil Worries
A roundup of money (and other) news governments can use.
What the CBO’s Latest Predictions Mean for States and Localities
The Congressional Budget Office expects the economy to grow at an even slower rate than it has in the past.
Is Atlantic City Headed for Bankruptcy?
America’s Playground recently had its credit rating downgraded to junk status, and the state is unwilling to take over its finances.
The Week in Public Finance: Puerto Rico Update, a Comeback for Cities and Calls for Transparency
This week's roundup of money (and other) news governments can use.
How Mayors Can Mend Police's Public Relations
The nation’s mayors released a report highlighting ways cities can rebuild the broken trust between police officers and citizens.
Obama Proposes P3 Tool to Help States Finance Infrastructure
In his State of the Union, the president proposed expanding a program that encourages state and local governments to pay for infrastructure projects with public-private partnerships.
The Week in Public Finance: An Exodus, Converts and Bad Omens
A roundup of money (and other) news governments can use.
How 2014 Gave States a Financial Wake-Up Call
While budgets were more stable last year, several states still tapped into their reserves.
Democrats' New Plan for Helping the Middle Class
Congressman Chris Van Hollen unveiled a proposal to, among other things, incentivize saving, ease the cost of child care, and stabilize the growing income gap.
The Week in Public Finance: Debilitating Debt, Monsters and a Warning in Kansas
A roundup of money (and other) news governments can use.
The Week in Public Finance: Traffic Cam Drama, Retiree Healthcare and Another D.C. Shoutout
A roundup of money (and other) news governments can use.
Public Finance Predictions for 2015
Tight budgets, declining oil prices and pension scares are some key finance topics that state and local governments will face in 2015.
The 2014 Takeaways from State and Local Finance
A look back at four of this year's trends in public finance.
Even with Stock Market's Rise, Many Pensions Haven't Recovered from Recession
Almost 40 percent of pension plans examined, even those that have been well-funded, have yet to reach their pre-recession peaks.
Do Credit Ratings Matter Anymore?
Thanks to changes in the market, bond ratings don’t mean what they used to.
The Week in Public Finance: Suing Christie, Low-Paying Jobs and Wooing Subaru
A roundup of money (and other) news governments can use.
Why, Despite Corruption, Marion Barry Was So Beloved
When it came to winning the public's approval, Washington, D.C.'s "Mayor for Life" knew that a little bit goes a long way.
State Spending Shows Slow Growth in 2015
With most of the new money going toward education and Medicaid and expected pushes for tax cuts from new Republican lawmakers, the competition for the limited leftovers remains fierce.
The Week in Public Finance: Armageddon, New Jersey's Reprimand and Campfire Songs
A roundup of money (and other) news governments can use.
The States That Benefit the Most from Federal Spending
A new report shows federal spending accounts for nearly one-fifth of the nation's economic activity, but its impact varies wildly from state to state.
The Week in Public Finance: Indecision on Illinois, Bad Typos and New Jersey Pensions
A roundup of money (and other) news governments can use.
Are Muni Bonds Being Replaced by Direct Loans?
Municipalities and banks are getting friendlier, and it's starting to irk credit rating agencies.
The Week in Public Finance: Expensive Retirees, State Spending Redux and Following the Rules
A roundup of money (and other) news governments can use.
Exiting Municipal Bankruptcy Only a Step in Road to Recovery
Many cities that declare bankruptcy ultimately emerge from it in a year or two. But regaining the trust of their citizens is a long-term proposition.
Detroit’s 50-Year Plan
Many cities are partnering with nonprofits, but Detroit’s project may represent the best effort to create a vision for the future and provide the tools to make it a reality.
The Week in Public Finance: Broke in Pennsylvania, Bankruptcy Lessons and Pensions
A roundup of money (and other) news governments can use.
U.S. Supreme Court Questions Out-of-State Income Taxes
The justices heard arguments Wednesday in a case that could cause localities across the country to lose millions in annual tax revenue.
Long after Its End, Great Recession Still Plaguing U.S. Cities
The recession may have ended in 2009, but a new report shows that declining revenues and state aid are keeping many big cities from recovering.
The Week in Public Finance: The 2014 Elections Edition
A roundup of money (and other) news governments can use.
California's New Rainy Day Fund Rules to Be Closely Watched
The state, often a policy trendsetter, approved a ballot measure to institutionalize savings habits and harness the state’s notoriously wild revenue swings.
Oregon Voters Nix Proposed Education Trust Fund
Oregon would have been the first state to set up an ongoing investment trust fund for higher education.
Arizona Votes for Opting Out of Federal Laws
If Arizona successfully opts out of enforcing a federal law like Obamacare, some see other states following suit.
Rick Scott Won't Get to Stack Florida Supreme Court
Floridians defeated a proposed constitutional change that would have let governors name a new judge once the retirement date of the outgoing judge is known.
New Yorkers Approve $2 Billion in School Spending
The bond referendum provides money for more space, better security and new high-tech gadgets.
Georgia Becomes First State to Cap Income Taxes
The cap makes the state more competitive with its tax-friendlier neighbors, but states that have enacted similar restrictions on taxes encountered financial problems later.
Alabama Joins Wave of States Banning Foreign Laws
Most states have at least considered banning foreign laws in their courts in recent years. Opponents say the controversial bans target Islam and are based on stereotypes.
Rhode Islanders Reject Bringing the Constitutional Convention Back
The Ocean State is one of more than a dozen that periodically asks voters whether they want to hold another constitutional convention.
The Week in Public Finance: Remembering Menino, Tax Friendliness and Rocking the Vote
A roundup of money (and other) news governments can use.
New Rule Could Require Governments to Report Tax Incentives as Lost Income
It's the biggest effort yet to make government tax subsidies more transparent.
Judge Rules Stockton Can Exit Bankruptcy
More than two years after it entered, the California city emerged from bankruptcy Thursday with its retirees and employees allowed to keep their pension benefits.
New Yorkers to Vote on $2 Billion School Spending Plan
Opponents say the plan amounts to irresponsible spending while supporters call it a solution to overcrowded schools.
Exit Interview with AGA's Relmond Van Daniker
After more than 50 years in the accounting world, the Association of Government Accountants' CEO retires.
The Week in Public Finance: College Ain't Cheap, Green Bond Fever and Job Problems
A roundup of money (and other) news governments can use.
The Return of the Constitutional Convention?
Voters in Rhode Island will decide whether to bypass the legislature and hold another state constitutional convention. Critics worry it would only serve special interests and threaten people's rights.
The Week in Public Finance: The Motherly Advice Edition
A roundup of money (and other) news governments can use.
U.S. City Finances Facing Slow Growth and Increasing Costs
American cities reported the most positive financial data since the 2008 financial crisis, but they still haven’t fully recovered from the recession.
The Week in Public Finance: A Math Lesson, Hartford's Timeout and the After School Special
A roundup of money (and other) news governments can use.
S&P Defends Higher Municipal Credit Ratings
Over the last year, the credit agency upgraded 41 percent of local governments' ratings, drawing skepticism from some.
States Let Voters Rule on Judges
How judges are appointed, elected and forced to retire (if at all) are key themes in this year's ballot measures.
The Week in Public Finance: Stockton, the Deficit Shuffle and Those Crazy State Revenues
A roundup of money (and other) news governments can use.
A First in State Income Taxes
It's up to voters this November, but other states have enacted similar moves only to encounter financial problems later.
Stockton Bankruptcy Judge Rules against Pensions
A federal bankruptcy judge dealt a serious blow to California's public employee pension systems by ruling Wednesday that payments for future worker retirements can be reduced when a city declares bankruptcy -- just like its other debts.
The Week in Public Finance: Pennsylvania in the Red, No Yellow Caution Light from the SEC and Green in NYC
A roundup of money (and other) news governments can use.
Striking a Balance on Muni Bonds
A new federal rule opens the door to counting municipal bonds in bank assets.
Modernizing Government Starts with Its Workers
The GSA's Dan Tangherlini says government offices have to defy their reputation of being slow to change and inconvenient for the average working person.
The Week in Public Finance: Money, Money and, Well, Money
A roundup of money (and other) news governments can use.
Is Walking Actually an Effective Political Statement?
When a North Carolina mayor walked 273 miles to Washington, D.C., this summer, he was just the latest in a long line of politicians to take an attention-seeking stroll.
The Week in Public Finance: Ray Rice, Cleveland Clinic's 100-Year Plan and Commitment-Phobes
A roundup of money (and other) news governments can use.
Pensions' Unfunded Liabilities Still Going Up
A new survey finds that pension funding levels across all states and major cities inched downward in 2013 and that cities are bearing a greater burden in their budgets than states.
Arizona Doesn't Have to Follow Federal Laws -- Or Does It?
A sovereignty measure on Arizona's ballot this November will let voters decide whether or not the state can forgo enforcing certain federal laws like Obamacare.
Treasury Secretary Calls for Reform to Keep Corporations from Fleeing Taxes
Rich people and corporations who keep money in foreign tax havens cost states $39.8 billion in 2011. Jack Lew says its time to stop them.
The Week in Public Finance: Taxes, Chi-Town, and Rock and Roll
A roundup of money (and other) news governments can use.
Proposition 2: The Latest Attempt to Fix California's Unpredictable Budget
Gov. Jerry Brown is pushing a ballot measure he says will institutionalize fiscal responsibility and saving. The complicated amendment will be up to voters this fall.
The Week in Public Finance: D.C. Interference, Let's Make a Deal and Urban Poverty
A roundup of money (and other) news governments can use.
The Latest State to Try to Ban Foreign Law in Courts
In what some call an effort to demonize the Islamic faith, all but 16 states have recently considered banning their courts from taking foreign, international or religious law into account.
States Where Government Aid Goes the Furthest
Two new studies question federal funding formulas for public assistance. Are some states getting shortchanged?
Jonathan Lippman: A Crusader for the Poor and Drug-Addicted
New York's top judge is the brain behind many ideas that have upended the court system nationwide including legal aid for the poor, drug courts and foreclosure protections.
How the Recession Beefed Up Sister City Relationships
U.S. cities traditionally develop relationships with foreign cities for diplomatic, cultural or educational purposes. But more and more are looking to them for economic development.
The Week in Public Finance: Rhyme Time, Slow Money and Water Works
A roundup of money (and other) news governments can use.
Health-Care Cuts Driving Public Workers' Retirement Delays
A new survey offers insight into the reasons government employees are increasingly putting off retirement.
The Week in Public Finance: L.A.'s Fail, Shopping Around and Delivering the News
A roundup of money (and other) news governments can use.
Missouri Voters Reject Lottery Funding for Veterans
The state would have been the fifth to put part of their lottery proceeds toward veterans programs.
Missouri May Become 5th State to Use Lottery Money to Help Veterans
Right now, the state's lottery proceeds exclusively go toward education. But voters could change that Tuesday.
The Week in Public Finance: Flowers' Power, Taylor Swift and Keepin' the Faith
A roundup of money (and other) news governments can use.
How to Build a Rainy Day Fund
A new report shows how states could have weathered the recession better.
Can Grad Schools Bridge the Divide Between Policy and Public Finance?
New survey data shows the gap between policy wonks and finance geeks could be shrinking.
The Week in Public Finance: Amen for NYC, Watching Illinois and Payback in Kentucky
This week's roundup of money (and other) news governments can use.
Will Oregon Be the First State with a College Trust Fund?
It's up to voters in November to decide whether the state will change the way it funds public college scholarships.
Hawaii Wants to Enter and Win the Digital Age
After years of underinvesting in IT, the state is seeking to transform from one of the worst to one of the best digitally run in the country.
States Try to Prepare for the Economy’s Wild Ride
Partially because of tax policies, state budgets have become increasingly unpredictable. But a few states are finding ways to manage the craziness.
Florida to New York: Our Business Climate Is Better Than Yours
As New York tries to lure Floridians up north, the Sunshine State's CFO wrote Gov. Andrew Cuomo to dispute New York's ad campaign claims.
The Week in Public Finance: Detroit's Bigger Pension Problem, Games on the Hill and a Win for Munis
A roundup of money (and other) news governments can use.
Has S&P Been Exaggerating Local Governments' Stability?
One analyst says the new way the credit rating agency scores local governments downplays the risk investors are taking and could encourage ratings shopping.
The Week in Public Finance: Uh Oh in Illinois, DC Water Puns and Cautious About State Income
A roundup of money (and other) news governments can use.
The Not-So-Sunny Side of Pension Obligation Bonds
Some governments, particularly those with money problems, borrow to quickly pay down their pension obligations. But a new study shows it can leave them more financially vulnerable.
The Week in Public Finance: Independence Day Edition
A roundup of money (and other) news governments can use.
New Tennessee Law Insulates State Credit Rating from Cities' Financial Problems
Credit markets view the move as a positive for the state but negative for municipalities.
What Governments Need to Know About the New Municipal Advisor Rule
A new rule about who can give governments financial advice went into effect, but how to apply it is far from resolved.
The Week in Public Finance: The Good, the So-So and the Almost Ugly
A roundup of money (and other) news governments can use.
Economic Gardening Is Growing, But What Is It?
Instead of trying to lure big companies with tax incentives, more and more places are trying to increase the number of local businesses to boost their economies.
The SEC's Latest Target
As the SEC steps up enforcement against states and municipalities, it's now investigating one suburban town for allegedly diverting at least $1.7 million in bond proceeds.
Are Pensions Finally Fed Up with Social Divesting?
In the past, pension funds have pulled their investments as a way of spurring change. But they’re changing their strategy when it comes to oil, coal and gas companies.
The Week in Public Finance: Fight Club Edition
This week's roundup of money (and other) news that governments can use.
Public Utilities May Enter the Century Bond Market
D.C. Water and Sewer Authority is contemplating being the nation's first public utility to issue a bond that's paid off over 100 years.
How the Pizza Guy Helped Change Michigan's Higher Education Funding
Michigan is seeing its first major funding increase for higher education in more than a decade, and it's thanks in part to a plan by businesses to improve the state's workforce.
The Week in Public Finance: Mo' Money, Mo' Problems and a Pension Lesson from Washington Teachers
A roundup of money (and other) news governments can use.
State Spending Will Slow in 2015
A new survey finds that 42 states plan on spending more next fiscal year than they did this fiscal year, but most increases will be relatively small.
Can Kentucky Stop Nonprofits from Abandoning Pension Obligations?
The Kentucky Retirement System -- the worst-funded in the nation -- is appealing a ruling that allowed a nonprofit to leave the state with its unfunded pension liabilities.
The Week in Public Finance: Scary Pensions and Puerto Rico's Red Alert
A roundup of money (and other) news governments can use.
What Corrupt States Spend Their Money On
A study finds that more corrupt states spend more money on construction, highways and police protections and less on health, education and other public services.
The Week in Public Finance: Pension Bonanza and New York's Potential Gambling Problem
This week's roundup of money (and other) news that governments can use.
The Week in Public Finance: Oklahoma's Pension, Jilted Bondholders and State Debt Loads
A roundup of money (and other) news that governments can use.
The Return of Local Currencies
The past decade has seen a resurgence of these boosterish bucks. But do they actually redirect spending to mom-and-pop shops instead of big box stores and online retailers?
The 7 Deadly Sins of Public Finance
There’s no sure-fire way to get fiscal policy right. But there are a few simple ways to get it disastrously wrong.
How Early Should We Teach Financial Literacy?
Chicago's treasurer recently launched an initiative to make financial literacy a regular piece of the curriculum for grade schoolers.
The Week in Public Finance: Pension Drama, Open Data and Pregnant Teens
A roundup of money (and other) news governments can use.
Why's the SEC Asking Governments to Tell on Themselves?
A new self-reporting initiative creates a prisoner's dilemma between governments and underwriters.
The Difference Between a Sustainable Budget and a Balanced Budget
A balanced budget isn’t always a healthy one.
The (Rivalry) Week in Public Finance: Showdown Central
This week's roundup of money (and other) news governments can use.
Clippers' Potential Sale Kicks Up Relocation Debate
In the aftermath of Los Angeles Clippers owner Donald Sterling’s racially derogatory comments, some are urging the team to move 30 miles south to Orange County.
This City is Heading Down Detroit's Path
North Las Vegas could be the next city to risk bankruptcy if its current trends continue, a new report warns.
The Week in Public Finance: Surprise in New Jersey, Puerto Rico's Balancing Act and a D.C. Shoutout
This week's roundup of money (and other) news governments can use.
Is Your State Prepared for the Next Economic Bust?
A new S&P report ranks how states have recovered from the recession and warns some states about policies they're pursuing.
The Week in Public Finance: Helping Hands, Uncle Sam and Illinois
A roundup of money (and other) news governments can use.
Public-Sector Unions' Newest Members: College Athletes?
A recent court ruling has spurred some states to decide whether college athletes can organize.
Canada's Global Player in the Privacy Debate
Ontario Privacy Commissioner Ann Cavoukian’s ideas are the basis for what may be America’s next consumer privacy law. But her ideas have fierce critics.
Confronting China’s Skyrocketing Local Debt
Like the U.S., China will have to change how local officials think about public finance if it wants to stop its growing debt problems.
The Week in Public Finance: Economic Euphemisms, Struggling Cities and Silver Trumps Gold
A roundup of money (and other) news governments can use.
Idaho’s Magic Valley: Miracle or Magic Trick?
Can southern Idaho become to food what Silicon Valley became for the tech industry?
It's Time for Illinois to Make Some Big Financial Decisions
A new report says the state faces key questions in 2014 that could have a lasting impact on its financial future.
The Week in Public Finance: Detroit, UConn Dominance and Pension Warnings
A roundup of money (and other) news governments can use.
State and Local Tax Burdens Are Falling -- But Not Everywhere
The burden that all state and local taxes place on Americans has fallen after hitting a national high in 2010.
The Week in Public Finance: Chris Christie, Waterworks and the Miracle on Ice
A roundup of money (and other) news that governments can use.
Oregon's Complicated Property Tax Rates Favor Higher-Valued Houses
Property tax rules tying housing values to decades-old property assessments in Oregon are creating a skewed system that’s bleeding into sale prices in Portland, a new study has found.
Detroit's Bankruptcy Exit Plan Threatens Its Financial Credibility
Detroit's plan of adjustment out of bankruptcy pays creditors pennies on the dollar, a move that could hurt its ability to borrow in the future.
The Week in Public Finance: Clear Skies, Bad Moons and Superstorm Sandy
A roundup of money (and other) news governments can use.
Why Do Cash-Strapped Governments Have Rich Citizens?
Boom times in oil and agriculture have brought new wealth to people in many rural counties. But the money in bank accounts isn't translating into more money for government.
How Do Governments Borrow Money?
A video explainer on the mechanics and players that make the $3.7 trillion municipal bond market work.
Mayors Rally to Defend Block Grant Funding
Even though Obama proposes cuts, mayors are asking Congress not to touch Community Development Block Grant funding (which, unlike most federal funding, flows directly to cities).
The Week in Public Finance: Snitches, Trash Pickup and Can I Get an Amen?
A roundup of money (and other) news governments can use.
Can Cities and Suburbs Work Together?
One Arizona mayor argues it makes more sense to fund cities and their suburbs as large metro areas, rather than as politically separate entities.
Looming Retiree Health-Care Costs? Let the Feds Help.
As retiree health-care costs soar, maybe state and local governments would be wise to shift some of the burden to Uncle Sam, according to a new report.
The Week in Public Finance: Chi-town, Muni Bonds and Some New England Love
A roundup of money (and other) news governments can use.
The Week in Public Finance: Economic Triage, Tax Reform and Harrisburg's Freedom
This week's roundup of money (and other) news governments can use.
New Mexico Debates New Lobbyist Rules
Eight states make ex-lawmakers wait two years before they can become lobbyists, and New Mexico may join them.
Why's the SEC's New Municipal Advisor Rule So Confusing?
What governments need to know about where they should go to seek financial advice.
Bankrupt Cities? What About Distressed Cities?
Bankruptcy grabs the headlines, but distressed cities are a more widespread problem – one that few states know how to address.
The Week in Public Finance: Bad Weather, a Junk Sale and Two Thumbs Up from the Street
This week's roundup of money (and other) news governments can use.
Facebook Helps Chattanooga Earn Employees' Trust on Pension Reform
A Facebook page created to enlighten people about the mayor's "attack" on the public safety pension fund helped change the tone of the conversation and got some employees to actually support reform.
Michigan Budget Director Leaving for Alma Mater
After balancing Michigan's budget and creating sweeping tax reforms, John Nixon, a former POY, is taking a position at the University of Utah.
The Week in Public Finance: Detroit's Desperation, Downgrade Trends and Puerto Rico's Bad Week
This week's roundup of money (and other) news governments can use.
The Week in Public Finance: Debt Limit, Moodiness and Dire Straits
This week's roundup of money (and other) news governments can use.
The Politics of Being a City CFO
It would be naive to say that politics is not part of Chief Financial Officers' job. But for them, the challenge is to prove that their allegiance is to the balance sheets.
Bitcoin Users Avoid Cumbersome Regulation
Bitcoin scored a win with a new ruling that keeps many of its users free from cumbersome federal regulations. But state and local governments can still regulate the virtual currency.
The Week in Public Finance
This week's roundup of money (and other) news that governments can use touches on retirement security, ridiculously cold weather, superdowngrades and more.
For Super Bowl Security, State and Local Cops Sharing Info at Unprecedented Levels
Less than a year after the Boston Marathon bombing, in which social media and crowdsourcing proved instrumental to finding the suspects, this year’s Super Bowl security technology pools resources in a way that that uses data to paint the most comprehensive picture yet.
States Watching Obama's Retirement Account Plan, 'MyRA'
The president signed an executive order Wednesday to offer retirement accounts to workers who don’t have access to them. The program will be watched closely by states contemplating similar solutions.
Jacksonville Mayor Travels with NFL Team to Woo Business
When the Jaguars played in London last year, the Florida city's mayor tagged along and used the trip to convince a top financial investment firm to open a new office in Jacksonville.
Ratings Agency Says Michigan Governor's $350M Pledge for Detroit is Bad for Business
The Fitch Ratings agency has panned Michigan Gov. Rick Snyder’s proposal to save Detroit’s pension fund, calling it “troubling” for bondholders.
The Week in Public Finance
This week's roundup of money (and other) news that governments can use touches on the California drought, college sports and more.
Michigan County Executive Under Fire for Controversial Quips About Detroit
Oakland County Executive L. Brooks Patterson has spent this week on the defensive after he was quoted harshly criticizing Detroit in a controversial New Yorker article.
A Victim Himself, Georgia’s Revenue Commissioner Tackles Tax Fraud
In 2012, the federal government issued $5.2 billion in tax refunds to people who falsified their identity. Georgia found a way to keep that money out of scammers’ pockets.
How Accountability and Transparency Are Improving Public Finance
These buzzwords can instill fear and trepidation in even the most progressive and tech-savvy public officials, but open information really does improve how cities operate.
Financial Illiteracy: One of Government’s Biggest and Least-Discussed Problems
Failure to understand financial outcomes is more dangerous to states and localities than ever, and there’s a big gap between what public leaders know about finance and what they need to know.
The Week in Public Finance
This week's roundup of money (and other) news that governments can use touches on on the muni market rebound, California's grooviness and more.
NGA Chair to Feds: "Please Do Not Get in Our Way"
During this year's State of the States address, governors continued their push for more control over their economic futures.
In Abandoned Detroit, Group Tries to Lure Writers with Free Rent
A grassroots organization plans to give away abandoned houses to writers who agree to move to the bankrupt city and boost its arts community and economy. So far, it's not costing the city a dime.
How Are Pensions Protected State-by-State?
Over the last century, states have adopted the idea that pensions are a form of deferred compensation and, along with that change, has come certain protections.
Top 10 Public Finance Stories in 2013
After years of declining revenue, the money began slowly tricking back in for states and localities in 2013. But there still was still a huge mess left to clean up.
Expiring Tax Deductions Could Mean Less Revenue for States
States with no income tax could see reduced consumer spending in 2014 if a federal tax deduction is allowed to expire.
2014's Top 10 Legislative Issues to Watch
Plus six trending issues that could be big this year.
What the Volcker Rule Means for the Municipal Market
One provision of the finalized Volcker Rule could cause headaches for states and localities that issue bonds.
When Cities and Counties Fight, Sometimes It's the Animals That Suffer
A dispute this fall between the city of Bakersfield and Kern County in California over animal shelter costs shows just how inter-local agreements can easily fall apart without proper nurturing.
Detroit's Bankruptcy Doesn't Mean More Cities Will Follow
With every municipal bankruptcy, there usually comes the chorus of warnings that more cities will join.
Federal Budget Deal Could Provide Temporary Relief for States
If passed, the two-year budget deal would shift planned spending cuts and alleviate some of the funding uncertainties that have plagued state and local governments.
Should States Pay Attention to Bitcoin?
As the virtual currency climbs in popularity and value, state regulators would be wise to start figuring out a way to make it safe and user-friendly in their borders, experts say.
Illinois’ Pension Reform Doesn’t Fix State's Credit Problems
Illinois’ status as the lowest-rated U.S. state won’t necessarily improve now that lawmakers have passed a measure to overhaul the state’s underfunded pensions.
Detroit Becomes Biggest City Ever Eligible for Bankruptcy
Public pensions were dealt a historic blow Tuesday when a Detroit bankruptcy judge sided with the city in ruling that entitlements could be subject to cuts in municipalities under Chapter 9 protection.
Governing: State and local government news and analysis
Detroit's Pension Is Actually Well-Funded, So What's All the Fuss?
The pension system is not to blame for Detroit’s woes – but Detroit's risky investments to prop up the pension system sure didn't help.
Analyst: City Bonds Still a Good Investment Despite Slow Market
A meager growth environment could have issuers tapering their borrowing, but local governments are still expected to be a stable investment.
Federal Government Budget Problems Make State Budgeting Impossible
As the nation’s governors and their staffs are knee-deep in numbers, policies and late nights, there's one certainty this budget-writing season: Don’t count on anything.
Bill to Require Annual Pension Reports Gaining Traction in Congress
There’s a proposal in Congress that opponents say would create headaches for public pension managers and could make it harder to finance infrastructure development.
What Cities Need to Know in the New Credit Ratings Era
As agencies revamp their criteria, seemingly conflicting actions have some scratching their heads.
What Other Cities Can Learn from Baltimore's Outcome-Based Budgeting
In contrast to other cities, Baltimore has increased its savings while lowering the property tax rate. But Baltimore's budgeting style is a hard sell.
Texas Becomes Last State to Allow Reverse Home Mortgages
Texas voters have approved a measure that makes it easier for older homeowners to downsize their homes without getting hit twice on closing costs.
Was the Shutdown Bad Advertising for Working in Government?
Are the bad vibes at the federal level encouraging more interest at the lower levels – or is it bad advertising all around for the public sector?
Texas Homeowners Proposition Would Bring State In Line with Nation
Texas is the only state that doesn't allow reverse mortgages for the purchase of a home.
After Shutdown, Weary Unemployment Offices Tasked with Getting Money Back
Agencies were quick to process claims during the shutdown, but the way states are going about getting that money back from federal employees could be a lengthy one.
Is There a Plot Against Pensions?
What may seem like a mathematical quibble has ballooned into an all-out war between two ends of the spectrum with no clear end in sight.
Are Retiree Health Care Benefits Empty Promises?
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.
The Next Battle: To Raise the Debt Ceiling or Not?
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.
State Treasurers Caught in Politics’ Crosshairs
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.
How Much Financial Disclosure is Enough?
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.
Pension Liabilities May Play Bigger Role in Ratings
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?
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?
Can Mass. Succeed Where Others Have Failed?
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.
How Detroit Put a Rain Delay on El Paso's Stadium Financing
Detroit's bankruptcy rattled the muni bond market when El Paso needed it most.
San Bernardino Wins Bankruptcy Protection
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.
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3 Cities That Used Disaster to Revitalize Their Future
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.
Minnesota Gov. Wants to Repeal New Farm Tax
Gov. Mark Dayton said he supports repealing a new farm equipment tax during a brief special session next month that he previously insisted would be limited to storm relief.
3 Cities That Used Disaster to Revitalize Their Future
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 Mean for Muni Bonds?
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.
Natwar Gandhi, D.C's Fiscal Turnaround Wizard, to Retire
The District's Chief Financial Officer, who's known as "Dr. No," will retire in July.
SEC Charges Harrisburg with Securities Fraud
Pennsylvania's capital, which is under receivership after nearly going bankrupt, is the second municipality or state to get charged with securities fraud this year.
Short-Term Gains Won't Outweigh Long-Term Pain
Preliminary tax data from the Nelson A. Rockefeller Institute of Government for 45 states shows revenues are up nearly 13 percent from last year.
Why Financial Literacy Matters to Governments
Low-income people need more than a steady paycheck to achieve financial stability. They also need help gaining access to traditional banking and credit services -- something 28 percent of Americans lack.
Ariz. May be 2nd State to OK Gold, Silver Currency
Ditching dollars for gold has become a popular notion among some conservative leaders and pundits (perhaps most notably Glenn Beck) in recent years.
Retiree Health-Care Benefits: The Next Shoe to Drop?
The rising cost of health care for retirees may force states and localities to make wholesale changes to their pension health plans.
Moody's New Rules May Mean More Downgrades
Moody’s Investors Service announced its highly anticipated new ratings rules, which could result in downgrades for dozens of cities and school districts.
Has Pension Reform Gone Too Far?
Faced with growing pension gaps, states and localities in recent years have reacted with sweeping reforms.
Fitch: Kentucky's Pension Reform Still Has Uncertainty
Kentucky’s pension reform signed into law this month marks a positive step but should not be heralded as a cure-all to the state’s massive underfunding problem, a major ratings agency said Friday.
Obama's Budget Targets Wealthy, Social Security to Lower Deficit
President Obama's fiscal plan for 2014 contains a mix of tax increases and breaks that some are concerned could mean increased costs for states and localities.
Moody’s: New York’s Pension-Deferment Plan Has Long-Term Risks
New York’s new law to allow some cities to defer pension payments would increase their unfunded pension liabilities and could hurt their credit outlook.
Job Skills Gap a Growing Concern in Cities
Cities coming out of the recession are facing new challenges with matching their workforce to available jobs, a problem that could be an early indicator of a growing national problem.
Why States Shouldn't Count on Another Big Income Tax Boost in 2013
RBC municipal analyst Chris Mauro warns that the boost at the end of 2012 was an anomaly driven by a rush to cash in on capital gains and other income in anticipation of new tax increases in 2013.
Stockton Bankruptcy Sets Stage for Pension Battle
Some say the ruling in Stockton, Calif.'s case could lead to a U.S. Supreme Court decision on how bankrupt cities deal with their pension liabilities.
Why Kentucky's Pension Reform Has Some Governments Yawning
Kentucky Gov. Steve Beshear calls its pension reform “a good solution to a thorny problem." But the state’s local governments are far less impressed.
Pension Reform Success Stories
Most states and many municipalities have passed some kind of pension reform in recent years, but only a few did so in a way that addresses the immediate unfunded liability of their plans. Plus: Has pension reform gone too far?
The Trouble with GASB
In the world of public finance, a long-running debate over what’s included in state and local financial statements is reaching new heights.
Scott Shuts Down Lt. Gov's Office to Save Money
Florida Gov. Rick Scott has temporarily shuttered the $510,000-a-year lieutenant governor's office in an effort to save money.
Illinois House Passes Pension Reform
House lawmakers in Illinois have passed the first step toward significant reform of the state's woefully underfunded pension system, but the controversial move would limit cost-of-living increases.
SEC Stepping Up Enforcement Against States, Cities
Last week, Illinois was only the second state to ever be accused of securities fraud -- but it may not be the last. The SEC's head of municipal securities wants to increase its enforcement.
Muni Bonds' Tax Exemption Likely to Stay
Congressional lawmakers are skeptical of some specialty tax-free bonds but largely spoke in support of maintaining the tax-exempt status of the municipal bonds localities and states issue to fund infrastructure projects.
Financially Distressed Cities Isolate Poor and Minorities, Former Receiver Says
Segregated minority and poor populations foster municipal distress, according to the former receiver for the city of Harrisburg, Pa.
House Committee to Take up Municipal Bonds
Lawmakers on Capitol Hill this week will look at the impact of tax exemptions and deductions on states and localities.
S&P: Christie's Budget for New Jersey Relies on Uncertain Revenues
A major ratings agency cast doubt over New Jersey Gov. Chris Christie’s proposed 2014 budget this week, saying that the Republican’s forecasts were too ambitious and relied on “new and untested revenues” to balance the ledger.
Suburban Blight & the Affordable Housing Conundrum
As urban revival pushes more lower-income earners to the suburbs, many are struggling to provide services and redefine their identity.
SEC Charges Illinois with Securities Fraud
Illinois is only the second state to ever be accused of securities fraud. According to the SEC, the state misled investors about its underfunded pension system.
Financing the Olympics: Are U.S. Cities Up for the Challenge?
In the wake of the recession -- and after witnessing London’s $14 billion price tag -- few cities are jumping at the chance to host the 2024 Olympic Games.
4 Myths About Public Pension Retirees
As pension reform debates continue, retiree advocates offer up a few common misconceptions about pensioners.
Pension Transparency Fight Brewing on Capitol Hill
Public pension managers are gearing up for another battle against what they say would be costly -- and unnecessary -- accounting disclosure requirements being floated on Capitol Hill even as new disclosure rules take effect this summer.
South Carolina Treasurer Fires Back After Censure
Despite official admonishment from the state investment commission, South Carolina State Treasurer Curtis Loftis is continuing to speak out against what he sees as mismanagement of pension funds.
6 State and Local Questions About Sequestration
Now that President Barack Obama said that he plans to sign the $1.2 trillion in spending cuts into law, how will states and municipalities be impacted?
Muni Bond Tax Exemption Repeal Could Spike Borrowing Costs by 50%
Total borrowing costs for cities, counties and states could increase by more than 50 percent if the tax-exempt status of municipal bonds is repealed as part of the ongoing budget talks on Capitol Hill, a new report has found.
Even the Experts Disagree About Sequestration
Just days away from the deadline when across-the-board federal spending cuts kick in, two budget experts disagreed about what kind of impact the cuts would have on the national economy.
The 'B' Word: Is Municipal Bankruptcy's Stigma Fading?
There's a growing sense among some leaders that municipal bankruptcy -- unthinkable just a few years ago -- may be a valuable tool.
Governors: A Four-Year Degree Doesn't Always Mean Job Growth
With the recession in the rearview mirror some state leaders say their biggest job growth challenge now is providing and fostering a workforce that can fill the demand of the new economy.
How the Corn Belt Survived the 2012 Drought
Despite last year's drought, which was the worst since 1956, many farmers still ended the season on high notes.
Obama Urges Another Postponement of Sequestration Cuts
President Barack Obama is urging Congress to postpone the Mar. 1 sequestration through a combination of spending cuts and closing tax loopholes, rather than risk the automatic 10 percent budget cuts that are scheduled to go into effect next month if no action is taken.
Continuing Resolution Deadline Raises Concerns on Capitol Hill
While many eyes in the political world are watching Mar. 1, the deadline for sequestration’s automatic, across-the-board cuts of about 10 percent, another deadline later in the month may trigger more fireworks on Capitol Hill.
As Sequestration Looms, Cities Create Their Own Economic Fate
Whether sequestration happens or not, some local finance leaders are preparing for leaner times ahead when it comes to federal aid.
Landmark S&P Lawsuits Mark Improved State-Fed Relations
The lawsuits, which are the first against a credit ratings agency in connection with the economic meltdown, were a coordinated effort between states and feds who have historically clashed over who fights financial fraud.
Michigan Gov.'s Plan to Increase Savings Draws Mixed Reaction
Michigan Gov. Rick Snyder’s $50.9 billion budget proposal this week included stocking away more savings while spending more on education, roads and heath care.
Top Tax Bracket Backlash: California's Higher Earners Weighing Move
Sometimes it’s not good to be the king. And in California, higher earners are feeling a little put upon.
Budget Deficit Falling But Looming Costs Hurt Overall Picture
The national economy will see some improvement in the coming years but the back half of the decade will be characterized by a looming debt burden and growing federal deficit under current economic policy, a new outlook report from the Congressional Budget Office says.
District of Columbia's Chief Financial Officer Retiring
Washington, D.C.’s longtime Chief Financial Officer announced his retirement Friday, just days after the city reported one of its largest budget surpluses in recent memory.
Kentucky's Outlook Downgraded
Kentucky’s finances received a blow late Thursday after Standard & Poor’s rating service downgraded the commonwealth’s outlook to negative from stable.
The Income Tax Rebellion: Can It Work?
The loudest collective rallying cry from governors this year is not over the usual themes of growing jobs and having a more competitive economy. This year, the buzz is all about the race to zero.
Fat Cat Public Retirees? Think Again.
Some say one of the biggest misconceptions about public retirees is that pensions are making people rich.
Experts: States Should Have More Active Role Aiding Distressed Municipalities
Some experts are saying that states should take a more active role in municipal finances even with an improved outlook for city finances in 2013.
Governing: State and local government news and analysis
Post-Disaster New Zealand Finds Use for Vacant Spaces
A town destroyed by two earthquakes shows U.S. states and cities what they can do with areas decimated by natural disasters.
Washington, D.C., Not Spending $417 Million Budget Surplus
The District of Columbia announced a $417 million surplus for its 2012 fiscal year, the highest surplus in recent memory and setting up an immediate fight between leaders on saving versus spending the money.
Bucking Trend, Traditional Pensions Back in Discussion in Alaska
A bill before the Alaska legislature would put defined benefits for state employees back in play after pension reform in the state cut out the option.
City Bankruptcies: The Wild West of Financial Law
Unlike corporate bankruptcies, there’s so little precedent for cities filing for bankruptcy protection that case law is being written with each major decision.
Muni Bond Market a Political Pawn in 2013
Experts say that 2013 will be a minefield of uncertainty for investors as the tax debate in Congress and financial volatility at home raise questions about muni market stability.
What the Florida Pension Ruling Means for Other States
Florida's high court ruled that pension contracts can be adjusted, weighing in on an issue that many believe will make its way to the U.S. Supreme Court.
Metro-Area Economies: Don’t Uncross Those Fingers Just Yet
Economists predict a return to steady economic growth in the latter half of this decade but said inaction on Capitol Hill could reverse that.
Local Governments Strain Under Weaker State and Federal Aid
New York’s local governments are increasingly turning to local tax revenue to make up for sluggish growth in federal and state aid, a trend that experts say is occurring across the country.
Virginia Looks at 401ks for New Employees
Some Virginia leaders are pushing to enroll new state employees to a 401k-style retirement plan as that state’s pension costs have soared and the pension’s funding has decreased.
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Washington, D.C., Tops List of Top 10 Cities for Tech Growth
Silicon Valley? That is so 1995. As it turns out, other metropolitan areas across the country are kicking some Bay Area rear when it comes to tech job growth since the millennium.
U.S. Chamber Chief Calls for Higher Gas Tax
The nation’s top business advocate said Thursday it was time for the federal government to “quit fooling around” with funding the transportation trust that fuels many state and local infrastructure projects and called for an increase in the gas tax.
Will Recent Downgrades Hurt State Transportation Bonds?
Some analysts warn that states should start making contingency plans so they can continue dependably issuing transportation funding bonds.
If Muni Bonds Tax-Exempt Status is Lifted, $150B Are at Risk
Municipal bond issuers could be forced to call as much as a collective $150 billion in debt if a plan to limit tax deductions on that bond interest goes forward.
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Muni Rates Could Increase in 2013
Some market watchers are predicting a modest increase in municipal bond rates in 2013, a turnaround from 2012 which saw rates fall to hit record lows in November.
Tax Incentives Only Part of Picture for State Business Climates
States each year dole out billions in incentives and tax breaks for businesses, but those that spend the most aren't necessarily winning the end game, some experts say.
Georgia's Startup Investment from Pensions Falling Short of Expectations
Six months after Georgia enacted a law meant to attract more startups by allowing the state’s pension plans to invest in them, few plans have actually taken advantage, according to an Atlanta Journal Constitution report.
What to Know Before Funding Your Next Feasibility Study
As municipalities are trying to find ways to pay for vital infrastructure projects while their budgets remain tight, more are turning to Tax-Increment-Financing (TIF), experts say.
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Rust Belt States Drive Growth in 3rd Quarter
Rust Belt states posted some of the country’s biggest economic gains last quarter as industrial production reached a four-year high, according to an analysis by Bloomberg News.
State Government Coalition: Eliminating Tax-Free Muni Bonds Would Have "Chilling Effect" on Economy
A coalition representing state and local governments is urging the president and the Speaker of the House to keep the federal government income tax exclusion for municipal bond interest as leaders negotiate an alternative to the upcoming fiscal cliff cuts and tax hikes schedule to kick in next month.
What Recession? Texas, Oklahoma Rebound Fastest
Metropolitan areas in Texas and Oklahoma are leading the nation in their overall recovery from the recession, according to a Brookings report.
Moodys Downgrades Seaside Heights, Issues 9 Other Credit Warnings
Moodys has downgraded the credit rating of one New Jersey town as a result of damages caused by Hurricane Sandy and made negative revisions to nine other public finance debt issuers, primarily along the New Jersey Shore and the South Shore of Long Island.
Will States and Localities Keep Opting for Higher Fees?
In the years during and after the Great Recession, governments have been turning more toward raising fees, according to a recent report.
Bond Insurer Wants Stockton’s Bankruptcy Case Dropped
Insurers holding $161 million of Stockton, Calif.’s debt and who want for the city’s case thrown out of court said this week the city didn’t pursue cost-cutting measures before filing for bankruptcy protection, according to a report by the Dow Jones Daily Bankruptcy Review.
California, New York Eye Greater Fiscal Scrutiny Over Localities
California and New York are considering heavier oversight of their financially troubled cities, according to a Stateline report. Bill Lockyer, California’s state treasurer, wants to create a system that would monitor local finances and issue a warning to flag cities and counties when their fiscal situation becomes troubled. New York’s comptroller, Thomas DiNapoli, wants to score cities based on their financial strain, according to Stateline.
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Report: Massachusetts Should Join Race for Online Gaming
After a record year for the Massachusetts Lottery, a state task force has called online gaming “inevitable” and is recommending the agency take steps toward offering it to consumers. The report, issued Thursday, notes that if the lottery doesn’t enter the online marketplace, other entrants – such as casinos, commercial gaming companies, and other states – will likely fill the void to the detriment of the lottery and the revenue it generates.
California State Employees Are Highest-Paid
As a result of years of escalating wages and overtime costs, California state employees enjoy the highest average pay out of the nation's most populous states.
Eliminating Muni Bond Tax Breaks Getting Bipartisan Support
Eliminating at least some tax breaks on municipal bond is receiving bipartisan support in the fiscal cliff talks.
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Officials Warn Northeast Transit Corridor Needs Significant Upgrades
More than a month after Hurricane Sandy, the Northeast transit corridor is still in need of massive repairs and transit officials are urging federal authorities to provide enough funding to not just restore the system but to upgrade its safeguards and better prepare against future storms.
Report: Budget Transparency Website Could Save Florida Millions
Two government watchdog groups say Florida could save millions of dollars if a budget transparency website, which taxpayers have already spent $4.5 million on, were allowed to go live.
Is It Legal to Force Public Employees to Quit Smoking?
Supervisors have asked the county attorney to determine whether they can legally require employees to quit smoking or if they can institute a ban on hiring smokers.
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Disaster Officials Update Congressional Lawmakers on Sandy Recovery
As New York, New Jersey and other areas along the northeast coastline continue to repair and rebuild after the devastation wrought by Hurricane Sandy five weeks ago, federal disaster officials defended the process by which localities receive financial aid while acknowledging room still exists for improvement.