Fact sheet: Local government budgets are solvent
State and local government officials want you to know something: Yes, budgets are tight these days, but their overall financial picture is still solid. That is the message from a new fact sheet, “Facts You Should Know,” released by the International City/County Management Association (ICMA) and 10 other state and local government organizations.
The fact sheet seeks to “set the record straight” on “misconceptions about state and local finance,” according to a news release. The facts, according to ICMA, are that, “While cities and counties have faced ongoing fiscal constraints, the vast majority of them are handling their debt service and pension obligations without breaking the budget.” The fact sheet makes the case, citing several factors.
Read the entire story from American City and County, our sister publication.