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.
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.
Fiscal health of local governments and municipalities has remained an important issue since the crises of the 1970s in places like New York, Philadelphia and Cleveland. More recently, the bankruptcy of Orange County California raised the possibility of a different type of financial failure than earlier ones. The beginning of the 21st century has witnessed two major economic bubbles including the dotcom and housing bubbles. These economic cycles combined with increasing health care, pension and other structural costs continue to challenge the fiscal viability of many jurisdictions. In particular, the economic and financial crisis of 2007-2008 is likely to result in potentially serious fiscal challenges for local jurisdictions.
The 2007–09 international financial crisis underscored the importance of reliable and timely statistics on the general government and public sectors. Government finance statistics are a basis for fiscal analysis and they play a vital role in developing and monitoring sound fiscal programs and in conducting surveillance of economic policies. The Government Finance Statistics Manual 2014 represents a major step forward in clarifying the standards for compiling and presenting fiscal statistics and strengthens the worldwide effort to improve public sector reporting and transparency.
In The Rise of the States, noted urban historian Jon C. Teaford explores the development of state government in the United States from the end of the nineteenth century to the so-called renaissance of states at the end of the twentieth. Arguing that state governments were not lethargic backwaters that suddenly stirred to life in the 1980s, Teaford shows instead how state governments were continually adapting and expanding throughout the past century. While previous historical scholarship focused on the states, if at all, as retrograde relics of simpler times, Teaford describes how states actively assumed new responsibilities, developed new sources of revenue, and created new institutions. Teaford examines the evolution of the structure, function, and finances of state government during the Progressive Era, the 1920s, the Great Depression, the post–World War II years, and the post–reapportionment era beginning in the late 1960s. State governments, he explains, played an active role not only in the creation, governance, and management of the political units that made up the state but also in dealing with the growth of business, industries, and education. Not all states chose the same solutions to common problems. For Teaford, the diversity of responses points to the growing vitality and maturity of state governments as the twentieth century unfolded.
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.
Federal government statistics provide critical information to the country and serve a key role in a democracy. For decades, sample surveys with instruments carefully designed for particular data needs have been one of the primary methods for collecting data for federal statistics. However, the costs of conducting such surveys have been increasing while response rates have been declining, and many surveys are not able to fulfill growing demands for more timely information and for more detailed information at state and local levels. Innovations in Federal Statistics examines the opportunities and risks of using government administrative and private sector data sources to foster a paradigm shift in federal statistical programs that would combine diverse data sources in a secure manner to enhance federal statistics. This first publication of a two-part series discusses the challenges faced by the federal statistical system and the foundational elements needed for a new paradigm.