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.
Most states have seen their collections drop below 15-year trends. Federal actions may also provide a drag on revenue.
The state Department of Commerce will allocate funds to support existing manufacturers’ projects that are innovative, bolster a product’s supply chain or target new markets, in an effort to diversify the state’s economy.
Rick Caruso, a Los Angeles developer, is now accepting Bitcoin for retail and apartment rent payments at several of his properties. Caruso is also developing a shoppers reward program that uses blockchain technology.
Maryland is leading the way, but its new levy faces plenty of pushback in the courts and Congress. States that want to follow suit should act quickly to craft viable uniform model legislation.
The federal stimulus package provides $195 billion in aid to states but forbids them from using that money to pay for tax cuts. The law's language is broad enough to look like preemption.
The American Rescue Plan can help local leaders do a lot more than cover budget shortfalls. The funds offer a chance for them to address equity issues, engage residents and create the future they want to see.
The $1.9 trillion stimulus enacted last month includes $260 billion to extend enhanced unemployment benefits into September. Only a fraction will go to upgrading administration.
The Stillwater Police Department and the Payne County Sheriff’s Office would like to equip more of their officers with body cameras, but the costs of storing the devices and updating the software may be prohibitive.
A new report analyzes the states’ tax burdens as officials begin post-pandemic planning. While Democratic states typically tax their residents at greater rates, there are exceptions to the trend.
The White House is formulating a massive infrastructure package. Here are cost-cutting ways for Congress to help states and localities float the bonds to fund their share. Muni "flower bonds," anyone?
The massive federal stimulus package signed last week by President Biden will bring billions of dollars to state and local governments. Here's what that will mean for technology modernization efforts.
Officials across the state eagerly await the guidelines on how the historic amount of federal aid can be spent. Funds will likely be spent on vaccine distribution, supporting the state’s economy and expanding broadband.
Miami may allow Bitcoin payments for some of its operations. Other cities are thinking about it. There are advantages to doing this — and also significant risks.
A new report reveals the great variation of federal dependency across the states. But drawing the line between federal and state responsibility is not easy.
The $3 billion injection from Congress will return the state’s revenue almost back to where it was in Feb. 2020. But lawmakers across the nation are still concerned about their states’ financial health.
California state workers took a two years’ pay cut last year to help lessen the state’s looming budget deficit. The state is set to receive $26B in federal aid, but it may not be enough to return salaries to normal.
Cullman County is expected to receive $21 million over the next two years in federal funds. Officials are already planning to spend some of the money on revenue shortfalls, employee support and other legacy projects.
As expected, the Maryland law that created an online advertising tax is facing legal opposition from lobbying groups backed by Amazon, Google and Facebook. The groups argue the law violates the commerce clause.
It’s an opportunity, particularly for localities, to make long-term investments not only in infrastructure but also in the way they perform their work for the post-pandemic future.
Broadband and vaccine distribution will be the big winners when it comes to new relief spending by cities and counties, according to a survey. PPE purchases and IT infrastructure could see fewer dollars.
Experts, vendors and local governments are designing online services in an accessible way while at the same time working toward community-wide banking equity.
Officials predict city budgets will be cut anywhere from 15 to 40 percent in the next year. The best way to do more with less is to use data as a tool to find out what works and where there’s opportunity to save.
Wayne Langerholc has introduced legislation to slow down bridge tolling as a way to finance the state’s transportation needs. Previously, the state’s use of public-private partnerships has been a bipartisan success.
Billions in new federal funding come with some strings attached. Nevertheless, the sheer amount will be enough to erase budget shortfalls in states and cities across the country.
Some government employers are exploiting the peculiar rules of public finance to transfer public assets or cash from clever deals to their pension funds. But there’s risk to taxpayers when it’s magic beans and shell games.
As the Biden administration works to approve another relief funds package to states, some officials are split over whether the money is really needed. Democrats welcome the support while Republicans say it's unnecessary.
A study found that businesses in majority white areas received more money from the Paycheck Protection Program than those in mostly Latino areas, only exacerbating California’s racial and financial disparities.
It's premised on a highly selective interpretation of lagging data, along with narrow assumptions of need.
GOP lawmakers want to use the estimated $1.6 billion that the state will receive from the federal relief package to fund $500 million in tax cuts, the unemployment insurance fund and teacher bonuses.
For years, the state’s Department of Health had urged lawmakers and Gov. Inslee to increase funding for public health programs. Now, the coronavirus pandemic has highlighted the need for better fiscal support.
It’s the only way to get a bill out of Congress before the fall, given the imperative to get COVID relief done first. Governors and mayors need to understand that it’s a game of chess, not checkers.
