ABSTRACT

City Fiscal Conditions 2020   [open pdf - 5MB]

From the Introduction: "Now in its 35th year, the City Fiscal Conditions survey of 485 cities reveals the breadth and depth of challenges facing city budgets, including: [1] Nearly 90 percent of cities will be less able in FY 2021 than in FY 2020 to meet the fiscal needs of their communities. This widespread sentiment about lack of fiscal capacity has not been reported since the low point of the Great Recession; [2] Current estimates for FY 2020 put year-over-year general fund revenue growth at near zero; [3] All major local tax revenue sources slowed in FY 2020, with severe year-over-year declines in sales (-11%) and income tax (-3.4%) receipts; and [4] On average, cities anticipate a 13 percent decline in FY 2021 general fund revenues over FY 2020."

Author:
Publisher:
Date:
2020
Series:
Copyright:
2020 National League of Cities. Posted here with permission. Documents are for personal use only and not for commercial profit.
Retrieved From:
National League of Cities: https://www.nlc.org/
Format:
pdf
Media Type:
application/pdf
URL:
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