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.
But tariffs and deportations threaten economic damage in the Southeast United States.
While the first round of stimulus checks encouraged spending as workers were adjusting to life at home, many expect the second round of payments will mostly go towards bill payments and savings.
An analysis of the most recent Annual Survey of School Systems Finances data reveals where public elementary-secondary school systems get their funding from and where they spend it.
Working together to create their own alternative to Bitcoin and its copycats could be a way to generate value, at no initial cost, for struggling pension funds. Madisons, anyone?
To install the detectors and screening equipment necessary for a firearms ban, the state would need to spend $1.5 million, which is more than the Capitol Commission’s annual maintenance budget.
The left loves it, and it has proponents nationally and in state legislatures around the country. But soaking the rich is a way to drive the wealthy out and curb entrepreneurship.
With Democrats in control of the Senate and the rest of Washington, further stimulus is a near-certainty. State and local aid, which has been held up by the GOP, will be part of the mix.
The state’s Special Transportation Fund will drop to just over $100 million by the end of this fiscal year, which is not enough to fund the multimillion-dollar transportation projects Gov. Lamont hopes to achieve.
Vaccines, a new presidency, a reshuffled Congress and a pandemic-shifted economy will transfigure the state and local fiscal landscape.
Still with a few weeks to go, the campaigning for Georgia’s congressional Senate runoffs has already exceeded $370 million. Overall, nine of the 10 most expensive Senate races occurred this year.
The new congressional stimulus package does not include direct aid for states and localities. Only a few states have seen revenues increase from last year, meaning cutbacks are coming due to COVID spending pressures.
The company will provide financial support to the state’s economic recovery initiative that will fund local nonprofits, cover worker wages and help bring students back to classrooms.
North Carolina accidentally “overpaid” thousands of residents in unemployment benefits and now asks that the claimants give some back. The total overpayment is estimated at $61.5 million.
Recent data shows that while overall spending has increased, there is great variation among states on public education expenditures per student. The average is $12,612, but New York spends nearly double that amount.
The COVID-19 pandemic recession has revealed major cracks in our systems of public finance, from the way we tax to the limits of fiscal federalism. We need to get to work on repairs.
The county approved the budget, which includes a one-time bonus of $1,000 per county employee to help offset the impacts of COVID-19. The county also focused funds on climate change measures.
A coalition of nonprofit community groups have been distributing one-time stipends between $1,000 and $3,000 to families impacted by COVID-19. The groups hope that investments like this continue in the future.
The California Dream Index aggregates indicators of equity to determine how the state is faring in its fight against economic inequity, and according to the numbers, there hasn’t been any improvement since 2010.
New data shows that nearly 4,000 businesses received Paycheck Protection Program loans of $1 million or more, which accounts for 38 percent of the total money spent statewide.
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For local government finance leaders, timely and relevant data is crucial for planning, budgeting and reporting; however, many local governments struggle to get the right data when they need it. So, what can they do?
Local governments have come to rely more and more on user charges to fund municipal operations. They're being challenged through the lens of equity and social justice, and they warrant a review.
More than 300 medical providers and nonprofit organizations in Lackawanna County received $73.8 million in coronavirus aid, but officials say it isn’t enough to cover their losses. Many are hoping for a second round of aid.
Officials say the federal relief funds would help reduce the lack of adequate Internet connections in the far reaches of the state, but Republican lawmakers disagree with the governor that the funds can be used in time.
Several Inland Northwest tribes are calling upon Congress to extend the spending deadline for coronavirus relief funds until Sept. 2021, because of costs and hardships that extend beyond Dec. 30.
A technical error in the Medicaid enrollment system may have mispaid 4.9 percent of customers across 27 counties. An audit suggests the numbers could extrapolate to a multi-million dollar glitch for the whole state.
As property taxes and other revenue sources have declined due to the pandemic, city officials are looking for ways to cut spending. But without federal aid, many are concerned that local businesses won’t be able to keep up.
Cities and counties are stepping in to try to preserve their communities' jobs and economies. It looks like it's helping. But the programs need to be designed to prevent mischief and protect taxpayers.
Nationwide, school districts are approving bonds that will pay for high-speed Internet, software updates and student computers. But some worry that the bonds aren’t going to give districts flexibility for future updates.
As COVID cases continue to increase, many residents have voiced their opposition to using relief funds to purchase the police tech. The city is still waiting for guidance as to whether or not the purchase is legal.
The state’s Attorney General commended the Public Utilities Commission of its efforts to jumpstart the state economy, but also says that the commission doesn’t have the macroeconomic experience to make those decisions.
The city has 18.5 police officers per 10,000 residents, which is far below a national, big police department average of 26.5. With budget cuts and public pressure to defund the police, the number could drop further.
