As the pandemic-induced economic downturn continues, cities are facing immediate, significant and irreplaceable losses to major revenue streams. NLC estimates that cities will experience a $360 billion budget shortfall over the next three years. The question, of course, quickly turns to are cities prepared to weather a fiscal storm this severe? One critical way to
Tag: cities finance budget shortfall fiscal
Anyone who has seen the movie A League of Their Own, about the first professional women’s baseball league, remembers the famous quote from Tom Hanks’ character, one of the team managers, when confronted with a crying player in the dugout: “You’re crying? There’s no crying in baseball!” The same can be said about city finance.