The National League of Cities has released a research brief on the fiscal conditions of municipalities across the United States.
Entitled, “City Fiscal Conditions in 2013,” the white paper details city budget trends and reveals some positive—as well as cautionary—insights.
Some of the highlights include:
- 72% of city finance officers report that their cities are better able to meet financial need in 2013 than in 2012
- For the first time since 2006, many finance officers are anticipating a small increase in year-over-year general fund revenues
- Property tax revenues will continue to decline, but sales tax and local income tax revenues will experience increases
Despite this good news, the report states that “high levels of unemployment, uncertainty about federal and state actions, and long-term pension and health benefit obligations continue to constrain the fiscal outlook for many cities.”
Click here to download the report or view it in its entirety below: