Friday, June 5, 2009

Criticizing cities for maintaining rainy day funds makes for good TV, however...
City fund balances have become a popular topic of discussion among state policymakers and the media. Some of these discussions include basic misunderstandings of city finances. While each city’s financial situation is unique, a new memo published by the League of Minnesota Cities provides an overview of the issues surrounding city fund balances, the different components of fund balances, and the characteristics that most city fund balances share.