State And Local Government Finance And Financial Management

This handbook evaluates the persistent problems in the fiscal systems of state and local governments and what can be done to solve them. Each chapter provides a description of the discipline area, examines major developments in policy practices and research, and opines on future prospects.

State and local government fiscal systems have increasingly become vulnerable to economic changes. Over the past three decades, state and local deficits during economic recession have been larger and deeper each time. The impact of the Great Recession and its aftermath of feeble growth and lingering high unemployment has been dramatic both in scope and intensity. Before the crisis, long-term structural deficits were persistent for both individual governments and the entire sector as spending plans and patterns outpaced governments' revenue-generating capacity. The revenue systems of these governments eroded while the workloads and scope on the expenditure side of the state and local system budget continued to grow. This handbook evaluates the persistent problems in the fiscal systems of state and local governments and what can be done to solve them. It contains 35 chapters authored by 60 practitioners and academics who are renowned scholars in state and local finance. Each chapter provides a description of the discipline area, examines major developments in policy, practices and research, and opines on future prospects. The chapters are divided into four sections. Section I is a systematic discussion of the institutional, economic, and political framework that provides a background for understanding the structure and financial performance of the state and local sector. The chapters in Section II provide an overview of the various components of state and local revenue systems and how they reacted to the Great Recession. They analyze the diverse forms of taxes and charges in detail, prescribe remedies and alternatives, and examine the implications for future revenue performance. Chapters in Section III turn to spending, borrowing and financial management in the state and local sector. The focus is on the big six service delivery sectors: education, health care, human services, transportation, pensions, and housing. Section IV is a set of chapters that look ahead and speculate about how the state and local government sector's money-raising, spending, and service delivery structures will adjust to the new circumstances.

Written for all practitioners of local government finance, ICMA¿s Management Policies in Local Government Finance has long been considered the most comprehensive, most on-target text for local government managers, finance directors, and economic development planners and directors.Now in its fifth edition, this classic on financial management will help you: Develop new revenue sources Design a budget process that includes performance reporting Conduct strategic economic development Understand debt management and bond sales Use modern information systems to improve financial decisions Meet the day-to-day challenges of financial management, from procurement to labor negotiations. Completely new chapters in this revised edition address school finance, cost-benefit analysis, enterprise resource management systems, procurement, cash and investment management, and risk and insurance management. All chapters have been thoroughly updated to reflect changes in federal and state practice, new professional guidelines, and underlying changes in global and national economies.

This series is designed to cover all aspects of sound financial management for local governments in developed and developing countries and economies in transition. Concepts of good governance, transparency and accountability are woven into the text of every chapter, and the needs and potential obstacles to greater decentralization and democracy are highlighted. Each volume is self-contained with its own Trainer's Guide, exercises and web resources. Chapters are divided into basic and advanced concepts and the detailed relationship of each topic to the others covered in the series is explained.

At a time when the slow pace of economic recovery and continuing reductions in state and federal assistance underscore our need for strong leadership in financial management, this volume offers a deeper understanding of financial theory and practice for its own sake.

Finance is a cornerstone of local government operations, cutting across multiple departments within a unit and defining the duties of many local government officials and employees. This book provides an overview of budgeting and financial management laws applicable to local governments and public authorities in North Carolina.

Finance--the acquisition, management, and expenditure of money and other financial resources--is critical to local government operations. How a local government approaches finance significantly affects how its officials and employees perform their duties and how it can serve its constituents. But North Carolina's local governments do not operate with complete independence or at the sole discretion of their officials or employees. Instead, our state's local governments derive all of their powers from the North Carolina General Assembly--and the General Assembly, through a variety of laws, has delineated the manner in which local governments may acquire, manage, and expend public funds. Now in its fifth edition, this book introduces readers to these key legal rules affecting local government finance and basic principles of revenue forecasting, budgeting, governmental accounting, and financial management. It continues to serve as the textbook for Introduction to Local Government Finance, the foundational course of the UNC School of Government's local government finance curriculum. Intended for local government officials and employees who manage, supervise, or oversee any aspect of local government finance, the course is particularly recommended for new finance officers and other finance personnel, managers, budget officers, purchasers, tax collectors and other tax office personnel as well as local government attorneys. The course provides a survey of the statutory, strategic, and practical limits of local government finance and financial management. Areas of instruction include the basic legal authority and limitations relating to local government revenues, budgeting processes, cash management, purchasing and contracting, expenditure control, conflicts of interest, fund accounting, and financial reporting. It also covers special public records laws relating to local government finance records and information. Like the School of Government's course, this book is a collaborative effort among School faculty members that specialize in local government finance. Unless otherwise specified in a given chapter, it reflects statutory provisions and case law through July 1, 2023.