Click me
Transcript

City Fiscal Conditions 2014

CITY FISCAL CONDITIONS 2014 This year's survey reveals that although the worst is behind, cities' fiscal conditions have not yet returned to full recovery following the Great Recession. FISCAL CONDITIONS ARE IMPROVING... Percent of cities "Better Able/Less Able" to meet financial needs. In 2014, 80 percent of city finance officers report their cities are better able to meet 80% 80% 75% 73% 72% 70% 68% 69% 65% 65% 63% 58% 57% 56% 54% 45% 43% 37% 36% fiscal needs than in 33% 34% 21% 22% 2013, the highest percent in the 29-year history of the survey. 19% 12% 13% 20% 25% 27% 28% This is also indicative of 30% 35% 32% 31% 35% 37% 42% 46% 44% 43% the depths to which cities sank during the 55% 57% 63% 64% 67% 66% BETTER ABLE recession. 88% 79% 78% 81% 87% LESS ABLE 1990 1995 2000 2005 2010 2014 ...BUT STILL HAVE NOT TAX REVENUE FULLY RECOVERED Sales and income taxes saw an At 90.87% of 2006 revenues, 2013 marks the first post-recession revenue increase, but are projected to stagnate increase in 2013, while property taxes are projected to increase in 2014 for the first time since 2009. as cities close the books on 2014. 2013 2014 1001 SALES 100 +4.6% +3.6% 90.87 INCOME +4.3% +0.6% 90 90.4 (projected) PROPERTY -0.4% +1.6% 2006 2007 2008 2009 2010 2011 2012 2013 2014 MOST IMPACTFUL BUDGETARY FACTORS Top 3 Most Positive Impacts Top 3 Most Negative Impacts go Value of City Cost of Employee/Retiree Employee/Retiree Health Benefits Health of Local Population Cost of Infrastructure Economy Tax Base Needs Pensions IMPROVED FISCAL CONDITIONS BOOST MUNICIPAL WORKFORCE For the first time Notable revenue Notable expenditure since 2008, more actions in 2014 actions in 2014 cities are increasing rather than decreasing the size of 76% their municipal workforce. Raise fee levels. Increase wages. 43% Increase public safety spending. Raise property tax rates. 22% 69% 2008 2009 2010 2011 2012 2013 2014 33% 16% 5% 6% 10% 20% 30% Increase number of fees to city services. Invest in infrastructure. 18% 62% 22% 49% 69% 67% 48% 32% 18% ENDING BALANCES TRENDING UPWARD While ending balances were increasingly utilized to fill budgetary gaps during the "Great Recession", they are now trending upward. Budgeted Ending Balance Actual Ending Balance 30% 21.8% 22.4% 21.8% 22.4% ...... ..... O....... 20% 20.1% 10% RECESSION TROUGH 06/2009 2008 2013 NATIONAL LEAGUE CENTER of CITIESTAND APPLIED RESEARCH Find the full report City Fiscal Conditions in 2014 at the National League of Cities website at www.nlc.org FOR CITY SOLUTIONS Infographic by Christy McFarland, Micah Farver and Soren Messner-Zidell. October 2014. 2014

City Fiscal Conditions 2014

shared by SjornCreative on Oct 21
76 views
0 shares
0 comments
Results from National League of Cities' 2014 report on city fiscal conditions.

Category

Economy
Did you work on this visual? Claim credit!

Get a Quote

Embed Code

For hosted site:

Click the code to copy

For wordpress.com:

Click the code to copy
Customize size