The Grand Jury of San Diego issued a report of this title yesterday. Also, at yesterday’s GFOA (Government Finance Officers Association) business meeting, the group voted that the Government Accounting Standards Board should stay away from the topic of sustainability. … Continue Reading →
An article about upstate New York town of Kingston and their discussion of fiscal stress, union contracts and the debate over Chapter 9 bankruptcy.
Here is an interesting clip from MLive about the debate over Flint’s dire finances. Michigan has a receivership program that has been used a number of times so municipalities cannot just file bankruptcy in federal court without going through the… Continue Reading →
Looks like the city is making its best effort to try to resolve budget imbalance. Ohio is one of the states that has a strong oversight/receivership program and municipalities may not file bankruptcy without approval of the state. Local governments… Continue Reading →
Here’s a clip from the California League of Cities concerning AB 155. AB155 (and its parallel, SB88) briefly, would prevent California cities from filing bankruptcy without going through the state — California Debt Investment Advisory Commission (CDIAC). Numerous other states have… Continue Reading →
Harrisburg, Pennsylvania can’t really afford to pay for the Resource Recovery bonds that it guaranteed. Their recently adopted 2010 budget does not include debt service for this guarantee (see prior post with link). It is accepted practice for rating agencies… Continue Reading →
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