The Last Line of Financial Defense? Internal Loans in Emergency Situations

Fiscal First Aid

The Last Line of Financial Defense? Internal Loans in Emergency Situations

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General fund reserves are one of local governments’ primary resources for responding to unexpected financial losses, such as those brought about by natural disasters or man-made extreme events. However, it is neither practical nor desirable for a government to accumulate enough reserves to respond to every possible contingency it might face — that would simply not be affordable for most communities.

Publication Date: December 2019

Authors: Shayne Kavanagh and Elizabeth Fu

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