Finance
Managing public finance has become a demanding aspect of state and local government, especially as economic health fluctuates and outside forces create revenue instability. Articles on taxes, budgets, pensions and bonds help to bring insight to finance management at the state and local level.
Short-term interest rates are likely to continue ratcheting down, making it a challenge for state and local financiers to maximize income on investments. But there are a few opportunities here and there.
Taxpayers must be protected from unchecked growth in local government spending. Statewide limits on tax increases would do that while forcing local governments to live within their means.
The new law also comes with extra consumer protections.
In Virginia, lottery income funds about 10 percent of the K-12 budget. Economic fears are leading residents to play less.
Not much for now, with next year’s insurance premiums jumping far more than general inflation and tax revenues. Employers’ only hope to begin stemming these costs long term is a stronger, unified front at the state and national levels. There also could be an important role for public pensions.
States and localities rely on the regularity and reliability of federal data. Disrupting it undermines everything from pensions to budgets and threatens public trust in government.
While understandably feeling under the gun, there are many ways states can continue to grow both their economies and revenues.
Federal import duties may squeeze state budgets over time, particularly in manufacturing and trade-heavy jurisdictions, a new Pew analysis found.
The new Dallas-based exchange plans to lure companies frustrated by NYSE and Nasdaq rules when trading begins in 2026.
State and local retirement systems should collaborate to develop an AI-powered digital assistant to help government employees make better financial decisions throughout their careers. Hand-me-downs from the private sector won't cut it.
Analysts report $11 billion in spending even as the state serves 31,000 fewer residents and patients struggle with long waits and access hurdles.
Colorado’s revenue dropped by $1.2 billion due to tax code changes in the One Big Beautiful Bill Act. Lawmakers altered some tax credits but left spending cuts up to Gov. Jared Polis.
Inflation, tight property tax caps and cooling sales tax revenue are forcing municipalities to cut contracts, raise fees and reduce services.
With nearly $7 billion in K-12 support delayed, districts are bracing for cuts to staff, programs and student services.
Updates enacted by Congress will make this successful program for low-income communities even more attractive to investors, particularly for housing. But there are plenty of ways to take advantage of the current program.
Blame Ozempic. And maybe tariffs.
Chicago is $1.15 billion short. A report commissioned by Mayor Brandon Johnson looks unlikely to solve that problem.
California’s high housing costs and Louisiana’s entrenched hardships continue to leave millions struggling.
Innovators, investors and practitioners are on the hunt for fruitful applications of blockchain and other evolving financial technology. Undoubtedly some of their ambitions will involve government finance. Which ones might actually pan out?
Sex abuse settlements, dwindling tourism dollars and downtown decline have created budget problems city leaders say will take years to repair.
No matter where they end up, import taxes aren’t likely to drive inflation enough to have much effect on state or local tax revenues. Public financiers have more to think about amid federal aid cutbacks, AI's impact on employment and rate-cutting by the Fed.
The exemption applies to profits from stocks, real estate and crypto at an estimated $625 million cost to state revenue.
Travel and visitor spending fell sharply in early 2025, resulting in a $14.4 million loss. Polling points to U.S. policy and rhetoric deterring travel.
Colorado’s “rolling conformity” with the federal tax code, coupled with sweeping tax breaks enacted by Congress, triggered a sudden revenue loss.
Are vehicles like private equity, crypto and real estate a good fit for 401(k)-style public retirement plans — or too risky for savers? Marketers will soon be pitching these “alternative investments” to public employers. Prudence dictates caution.
Providers report denial rates up to 17.5 percent. To cope with the mounting financial pressure, some small clinics have stopped accepting Medicaid altogether.
The new tax and spending law’s requirements for food assistance and Medicaid impose costly administrative burdens on states and localities. Widely misunderstood rules for taxing overtime will intensify the administrative pain. Public employers should start preparing their workers for the confusion to come.
With little public detail about its methods or goals, the governor’s new investigative unit raises questions about transparency, political intent and the future of local oversight.
Pension funds enjoyed enormous stock market returns during the pandemic but slower gains and underfunding has increased their liabilities.
A decade of noncompliance with federal rules has left districts scrambling to meet student mental health needs without adequate support.
The future of an EPA program for disadvantaged communities may be uncertain, but there are lessons for the future in how local governments have gone after the funds. Authentic, cross-sector collaborations are key.
