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Rethinking reserves on a GFOA model
We recently reviewed a GFOA post from May titled “Should We Rethink Reserves.” We wrote previously on the importance of fund balance, but the GFOA article encourages a more granular analysis of reserve levels than we have discussed. As the need for local governments...
Local Government Funding for Moderate Income Housing – a way forward
Just about every community in North Carolina now agrees that it has a housing problem. In most cases, it’s a need for housing across the board. There are several recognized ways for local governments to provide direct assistance to undertakings to develop persons of...
It’s Attorney Audit Letter Season!
It’s that time of year when lawyers for local governments will get letters, signed by their clients, asking for a report to the auditor. Information from the attorneys is important to an auditor’s evaluation of the client’s financial statements, especially as to...
Lessons from Copenhagen
I came across an interesting paper on the redevelopment of the City and Port of Copenhagen. There are many specific projects and techniques that won’t apply in the United States, but a few of my takeaways that might: If the local government itself owns unused or...
Improving access to childcare as local economic development
A recent report from the NC Chamber Foundation indicates that thousands of North Carolinians are leaving the workforce, forgoing professional advancement, losing work hours, or passing on work-related education or training because of the lack of affordable quality...
Bond referendum “transparency” legislation back on the move
We wrote about Senate Bill 99 back in March, and a new version of that bill is back on the move in the General Assembly. As we said back in March, no one in the legislature needs to care what we think is good policy about bond referenda. But as bond lawyers, we want...
How can you borrow money to pay for downtown improvements? Try special obligation bonds.
Sprucing up downtown often includes projects like streetscape improvements, or street work to improve circulation (and fix up the utilities while we’re at it), and improved parking, bike lanes, and other services. We are so used to using installment financing for...
Referendum transparency or through a glass, darkly?
There’s a new bill in the General Assembly, known as Senate Bill 99 and entitled “bond referendum transparency,” that seeks to provide more information to voters about a bond referendum. It’s a follow-up proposal to legislation we’ve written about before. The bill...
What are Managers and Finance Officers worrying about?
There’s always a list. Here’s what I’ve picked up lately from a variety of conversations and presentations. Inflation, and its effect on direct costs and interest rates. Investment rates are rising in the same fashion. Supply chain disruptions – maybe improving, but...
To increase local government investment in housing, expand the use of special obligation bonds
How can our local government financially support additional development of affordable housing in our community? Gone (mostly) are the days when local governments didn’t perceive an affordable housing issue in their communities. And the answers are generally clear as...