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.
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.
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.
Mitch McConnell and other Republicans are opposed to further aid for states and localities. It looks like the Senate will stay in GOP hands, so prospects for relief next year have dimmed.
To resolve the stalemate on COVID-19 relief for states and localities, Congress should require a contractual commitment to robust rainy-day funds and promote serious efforts to fix pension underfunding.
The most recent budget proposal is $188 million more than was proposed by the governor last month, $2.4 billion more than was spent in the entirety of last fiscal year and drains the state’s “rainy day” fund by almost half.
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How can governments meet the bill pay preferences of constituents? Explore survey results showing how varying age groups want to pay with insights on how governments can accommodate shifting demands.
Police officials are urging city leaders to use $500,000 of coronavirus relief funds to purchase ShotSpotter, the gunshot detection software. Officials are reviewing the funding rules to see if the purchase is legal.
Arizona, California and Illinois are just some of the states that have significant tax measures on the ballot that could impact billions in state revenue for years to come.
Absent any federal financial help, Gov. Charlie Baker has patched together a multi-million dollar package from COVID relief funds and the state budget that will help assist housing, small business owners and job seekers.
There isn't enough money there to significantly redress urban inequalities. The best way forward is to rethink law enforcement budgets for better policing and to de-fang unions that shield bad cops.
Mayor Jenny Durkan's move, made as the city faces a $300 million shortfall in 2020, has triggered criticism from some council members. The funds were to combat displacement and advance community equity.
The city council has approved $2.75 million from the city’s CARES Act funding to support Black business owners who weren’t eligible for aid from federal pandemic relief programs.
The rules the president has pushed through have successfully lowered immigration numbers to the lowest in decades, but many experts are concerned about the impact the restrictions will have on job growth and the economy.
The coronavirus pandemic encouraged Americans to begin relying more on fintech for things like check deposits and money transfers. As the change becomes permanent, some financial firms are having to catch up to the tech.
Fear of contagion en route is keeping travelers on the ground, crushing local businesses and regional economies. Airport authorities should band together to establish on-site rapid testing.
A Multnomah County study found that publicly funded broadband is too expensive to be feasible. Now the county must seek out cheaper, maybe less effective, options to ensure that every household has access to the Internet.
While some parts of the state’s economy have bounced back, economists have predicted that California’s unemployment rate will not return to it’s pre-COVID rate until late 2024.
Budget analysts fear the state will continue to lose approximately $450 million a year until 2025. More federal stimulus aid is needed if the state is to avoid devastating cuts to public services.
They employ millions of people and buy trillions of dollars in goods and services from the private sector. Congress and the White House should keep these numbers in mind as they debate pandemic aid.
Raising the cap on the federal deduction for state and local taxes while putting a lid on another tax break would benefit more taxpayers and the governments closer to them.
Gov. McMaster approved purchasing electronic poll books after South Carolina officials spent days looking for alternative ways to streamline voter check-in. Now, election clerks can begin distribution and training for November.
