We discuss the challenges of engaging elected officials in their community's financial story. Legendary City Manager Mark Scott explains how the Los Angeles Riots transformed Beverly Hills, how municipal bankruptcy transformed San Bernardino, how to engage elected officials in financial decisions, and the public finance of Coachella, among many other topics. In Ripped from the Headlines we enumerate the challenges and opportunities of the Financial Data Transparency Act.
Mar 27, 2023•44 min•Season 1Ep. 24
We take a walk down Memory Lane, reminiscing on how the Great Recession shaped today's municipal credit analysis and financial disclosure. Suzanne Finnegan from Build America Mutual (BAM) explains the renaissance in municipal bond insurance, how bond insurance benefits issuers of all sorts, insuring and investing for sustainability, and why she's watching emerging trends in the housing market, among many other topics. In Ripped from the Headlines we ponder why investors are exiting the residenti...
Mar 20, 2023•42 min•Season 1Ep. 23
We take apart the "three-legged" stool of public pension funding, and explain why taxpayers should care about wonky details like discount rates and private equity fees. Natalie Cohen from National Municipal Research, Inc. walks us through the current public pension landscape, including into who decides where pension money goes, pension investing in the face of market volatility and normalizing interest rates, pensions and ESG, and why pension contributions relative to annual spending is "a thing...
Mar 13, 2023•47 min•Season 1Ep. 22
We unpack the many hats worn by our state/local treasurers and comptrollers. Pennsylvania Treasurer Stacy Garrity joins us - accompanied by Dr. Kyle Kopko from the Center for Rural Pennsylvania - for a careful look at the urban/rural savings divide in 529 college savings plans, building trust in financial institutions, and George Clooney's starring role in unclaimed property. In Ripped from the Headlines we discuss the challenges of financing access to critical health care in rural areas. Statel...
Mar 06, 2023•36 min•Season 1Ep. 21
We give special treatment to special district finances, motivated by Disney's special district kerfuffle in Florida. Professor Chris Goodman from Northern Illinois University walks us through the history and development of special districts, where their money comes from and where it goes, whether they're effective and accountable, and why Mickey and Donald might appear at a special district board meeting soon. In Ripped from the Headlines we discuss the indirect but powerful public finance conne...
Feb 27, 2023•48 min•Season 1Ep. 20
We continue our ongoing deep dive on the public finance of post-pandemic downtowns, including insights from Liz on neighborhood-downtown relations, and research findings from Justin on local lodging taxes. Sam Hecker from the Seattle Convention Center explains how SCC managed through a pandemic with no conventions, why natural amenities are the key to healthy post-pandemic downtowns, and the future of lodging taxes, among many other topics. In "Ripped from the Headlines" we explore the politics ...
Feb 20, 2023•45 min•Season 1Ep. 19
We explore the surprising disconnect between accounting and accountability, especially for federal money now flowing into local governments. LaShon Ross from the City of Plano, TX describes the human capital challenges and opportunities in local government today, and explains why coaching, hard conversations and "multi-directional" accountability are essential to effective local government budgeting. In "Ripped from the Headlines" we discuss recent developments in state taxation of digital adver...
Feb 13, 2023•48 min•Season 1Ep. 18
We continue our discussion of what the work from home revolution means for state and local public finance. Scott Pattison from the Multistate Tax Commission - "the most important public organization you've never heard of" - walks us through MTC's mission and work, and explains how technology, digital commerce, and sweetened cranberries are reshaping state tax policy. In our new "Ripped from the Headlines" segment we explore the public finance implications of the local incorporation (and de-incor...
Jan 30, 2023•45 min•Season 1Ep. 17
We describe the confluence of fiscal stress and high technology that's reinventing aging infrastructure in post-industrial cities. Liz highlights her recent work on chronic fiscal stress, and makes clear that getting to bankruptcy is a group effort. Eric Horvath from the City of South Bend, IN tells the story of how South Bend used artificial intelligence and big data to tackle an $800 million stormwater management problem, all for a fraction of the estimated cost. Tyler from Chicago asks: "What...
Jan 23, 2023•43 min•Season 1Ep. 16
We devote all our bandwidth to broadband as an infrastructure investment. Pari Sabety and Krista Canellakis from US Digital Response walk us through USDR's work on broadband expansion and access, including how local government can access billions of new federal money, the FCC challenge process, and broadband as an education finance policy issue, among many other topics. Elliot from Florida asks: "What exactly does 'public-private partnerships' mean?"
Dec 27, 2022•44 min•Season 1Ep. 15
We discuss the monumental recent shifts in police budgeting. Beth Goldberg from the City of Kirkland, WA explains how five communities in greater Seattle, against the backdrop of Defund the Police, collaborated to fund and launch a community crisis response service. Emily from Columbus asks: "Are Taylor Swift ticket flippers the same as municipal bond flippers?"
Dec 19, 2022•48 min•Season 1Ep. 14
We explore how natural disasters are disrupting state and local finance, including the "known knowns" and the "known unknowns." Colin Foard from the Pew Charitable Trusts shares key takeaways from a new report - "Wildfires: Burning through State Budgets" - on how states can adapt their budgeting processes and techniques to better prepare for wildfires and other natural disasters. Theodore asks: "Do ratings agencies consider climate risk when evaluating the creditworthiness for state and local go...
Dec 12, 2022•42 min•Season 1Ep. 13
We continue our examination of how "work from home" is reshaping local public finance, including what municipal bond investors are thinking today, and how downtowns might look in a remote future. Berke Attila from the City of Baltimore lays out the challenges of making telework work for local government, and explains how cutting edge thinking about capital budgeting, asset management and information technology systems can help to seize on telework's many opportunities. Alex from Chicago asks: Wh...
Dec 05, 2022•40 min•Season 1Ep. 12
We recap what Election 2022 means for state and local public finance. Bill Glasgall from the Volcker Alliance joins us to discuss how a divided Congress will shape the IRA, how states are making fiscal policy at the ballot box, and some local fiscal trouble looming ahead, among many other topics. Sarah from Hinsdale asks: "How about sin taxes on ammo?"
Nov 22, 2022•45 min•Season 1Ep. 11
We look ahead on local property taxes, including what might happen in a world of stagnant house prices, high inflation, and political pressure on local budgets. Professor Chris Berry from the University of Chicago shares the key insights from his path-breaking research on equity in property tax assessment, and shares a sneak peak of his most recent and encouraging findings. Scott from Chicago asks: "What is California's Proposition 13, and is it unique to California?"
Nov 07, 2022•49 min•Season 1Ep. 10
We discuss the public finance of climate adaptation, with focus on flood insurance, catastrophe funds, and the complicated role of tax-exempt bond income. Rudy Salo of Nixon Peabody offers his bond lawyer take on building back better after natural disasters, the politics of climate risk disclosure, and a future of "sexy infrastructure." Nancy from Asheville, NC asks: "Why are fiscal year starts and ends so different across states, localities, and the federal government?"
Oct 31, 2022•46 min•Season 1Ep. 9
We go to school on what makes public school finance unique, with a focus on state shared revenues, horizontal equity, and teacher pay. Harpreet Hora from Atlanta Public Schools explains how Covid, inflation, federal money, a tight labor market, equity concerns, a focus on outcomes, and other factors are shaping APS' current and future budgets. Extra Credit: Shelly from Minneapolis asks, "What are lease revenue bonds, and how are they different from other types of bonds?"
Oct 24, 2022•44 min•Season 1Ep. 8
We discuss the good, the bad, and the uncertain with transit agency finances. Dwight Burns from the Dallas Area Rapid Transit (DART) shares his optimism on DART's financial future, economic development in the Metroplex, and the Texas Longhorns. Johanna from Louisville, KY asks: "How are US Territory finances different from states and localities?"
Oct 17, 2022•37 min•Season 1Ep. 7
We discuss new data on emerging trends in work from home, and what those trends mean for state and local revenues, budget-making, and fiscal policy. Catherine Tuck Parrish from Raftelis explains that today's most successful local financial leaders are good on spreadsheets, but great on compassion, empathy, and collaboration. Extra Credit: Beth from South Carolina asks, "Why do some local governments have income taxes, but most others don't?"
Oct 10, 2022•41 min•Season 1Ep. 6
We discuss the shifting landscape for state and local retirement benefits, and what that new landscape means for budgets, employee satisfaction, and the future of the state and local workforce. Keith Brainard from the National Association of State Retirement Administrators explains how state and local public pensions are responding to inflation, rising interest rates, market gyrations, and economic uncertainty. Julius from Oak Park asks: "What are land banks, and what do they mean for state and ...
Oct 03, 2022•45 min•Season 1Ep. 5
We discuss how local government finance managers are responding for the first time in a long time to two big challenges: inflation and the massive influx of federal government money. Jeff White from Columbia Capital Management joins us for a deep dive on how these challenges are reshaping local government borrowing. Extra Credit: Cindy asks "How much money should a local government keep in its rainy day fund?"
Sep 26, 2022•45 min•Season 1Ep. 4
We look at who's leaving the local government workforce, and how municipalities are using federal dollars to stem the tide. Joshua Franzel from the Mission Square Research Institute shares some recent findings on the local government workforce of the future, how we'll pay for it, and why everyone should study budgeting and finance. Extra Credit: Almendra asks, “Why do state and local budgets not talk about return on investment?"
Sep 19, 2022•46 min•Season 1Ep. 3
We discuss what the "Big 3" recent federal laws mean for state and local finance. Emily Brock from the Government Finance Officers Association helps us unpack the Inflation Reduction Act (i.e. the Climate Bill), including the next big trending topic – #NOFO_FOMO. Extra Credit: Mary from Wisconsin asks, “Why do state and local governments take so long to produce their financial statements?”
Sep 13, 2022•47 min•Season 1Ep. 1
We discuss the many ways small and rural local governments are investing their influx of federal cash in climate adaptation, economic development, and infrastructure projects. Mark Funkhouser from Funkhouser & Associates opines on economic development and local government finance in Appalachia, and makes a bold statement on the Backyard Brawl. Extra Credit: Allison asks, “What’s a TIF District, and why are they so controversial?”
Sep 13, 2022•45 min•Season 1Ep. 2
