Financial Analysis

"State and Local Governments: Persistent Fiscal Challenges Will Likely Emerge within the Next Decade"

Government Accountabilty Office

GAO has run long-term simulations showing that absent a change in policy, the combined effects of demographic changes and growing health care costs drive ever-increasing federal deficits and debt levels. State and local governments provide an array of services to their residents, and the federal government relies on these governments to assist in the realization of national goals. To provide Congress and the public with a broader national context, GAO has developed a fiscal model of the state and local sector.

"The Subprime Lending Crisis: The Economic Impact on Wealth, Property Values and Tax Revenues, and How We Got Here"
Majority Staff of the Joint Economic Committee, U.S. Congress
As the losses caused by the subprime lending crisis continue to work their way through the financial markets, there is a growing awareness among policymakers and financial market regulators of the potential impacts on the broader economy.  Part II of the report includes forward looking, state-level estimates of subprime foreclosures and associated property losses and property tax losses, covering the second half of 2007 through the end of 2009. Please note that this report takes particular policy positions. The GFOA is not endorsing these positions. Rather, we are bringing this report to your attention because it provides forecasts and information on property tax trends that state and local government managers may find useful.


National League of Cities
The National League of Cities has made available a number of reports that address the challenges faced by public finance systems. These reports provide excellent background on the causes of financial imbalance and provide grounding for building the case for financial planning and engaging elected officials.