Bond Rating

The Rising Cost of Ignorance in Local Government Finance

February 5, 2014 Bond Rating

And here’s a really nice summary by Liz Farmer of why the cost of ignorance is rising in local government finance: Financial Illiteracy: One of Government’s Biggest and Least Discussed Problems. Yes, it’s more eat your fruits and vegetables stuff but … Don’t be surprised, as some have been even when their actions are legal, […]

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Reducing Ignorance in Local Government Finance

February 5, 2014 Bond Rating

From the Center on Budget and Policy Priorities, Budgeting for the Future: Fiscal Planning Tools Can Show the Way (PDF), by Elizabeth C McNichol, Vincent Palacios, and Nicholas Johnson. Ten tools: Multi-Year Forecasts of Revenues and Spending Fiscal Notes with Multi-Year Projections Current Services Baselines Independent Consensus Revenue Forecasts Independent Legislative Fiscal Agencies Independent Review […]

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Keeping Watch for Local Government Fiscal Stress

December 2, 2012 Accounting

New York’s Comptroller, Tom DiNapoli has issued a draft proposal for identifying local governments at risk of fiscal stress. An earlier report touches on local fiscal distress. And here, former Assemblyman Richard Brodsky discusses the earlier Comptroller’s report. It’s a good idea, and given the local governments that have already gotten themselves in trouble the […]

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Throwing Good Money After Bad … Over and Over and Over

October 16, 2012 Bond Rating

Harrisburg, PA is flat broke and the problem is related to its being legally, financially tied to a public authority, the Harrisburg Authority Resource Recovery Facility, which financed and built a waste incinerator. But this is awful. Bond Girl (@munilass on Twitter) lays out the detail at “Self-Evident”. This is a longish piece, but at […]

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Role Reversal in Rockland County?

May 10, 2012 Bond Rating

So right after Moody’s downgraded Rockland County’s rating (a lot), the Republican County Executive Scott Vanderhoef blamed the local Senator, Democrat Sen. David Carlucci because he would not support an increase in the sales tax: We regret that State Senator Carlucci was unwilling to fight for the financial stability of Rockland County by passing the […]

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Fitch Credits Sale of Ulster County Nursing Home in Reaffirming County’s Bond Rating

March 20, 2012 Bond Rating

From the Mid-Hudson News Network: Fitch reaffirms Ulster County’s bond rating, cites ‘sound’ financial profile NEW YORK – Fitch Ratings Service supports the sale of the Golden Hill Health Care Center by Ulster County government. The revelation comes in the rating agency’s latest report on the county’s finances and its reaffirmation of the county’s AA- […]

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