The growing recognition of economic cycles and the need for state and local governments to prepare for downturns as well as plan for progress going forward require officials, citizens and investors to remain keenly focused on municipal finance. MuniNet Guide provides commentary on and analysis of the municipal bond markets and trends, public pensions, and the rarely used Chapter 9 Municipal Bankruptcy experience related to extreme cases of fiscal distress.
Municipal Finance – State Financial Conditions: General Fund Median Total Fund Balance as Percentage of Expenditures – FY 2009 to FY 2016 // Median Assigned and Unassigned Fund Balance to Revenues Percentage – 2011 to 2016 (Source: Merritt Research Services)
Most State General Fund Balances For FT 2016 Continue Positive Path
As measured on a median basis, state total general fund balances in relation to expenditures recorded their best end of year operating position since the 2008 credit crisis. The total fund balance includes designated and restricted monies for special reserves and purposes as well as unreserved monies available for any purpose.
The state median for total general fund balance as a percent of expenditures reached 12.2% for Fiscal Year 2016, the highest level in eight years. In comparison, the low point occurred in 2010 after state reserves were tapped to offset lower tax revenue collections.
Merritt Research Services: Benchmark Central
Merritt Research Services provides benchmark median values for municipal credit analysis across 13 different sectors. Freely available and updated regularly.
National Assoc. of State Budget Officers (NASBO)
Professional membership organization for state budget and finance officers that advances state budget practices via research, policy analysis, and education.
Government Finance Officers Association (GFOA)
Mission is to promote the professional management of governmental financial resources by advancing fiscal strategies, policies, and practices.
California Local Government Finance Almanac
Online resource of data, analyses, articles, and issue briefs on California municipal finance, revenues, spending, and governance topics.
Nelson A. Rockefeller Institute of Government, The
Mission to enhance the capacities of state governments and the federal system to deal effectively with the nation’s domestic challenges.