Municipal Budget Woes Continue

The impact of decreasing tax revenues and increasing expenses has continued to cause fiscal problems for municipal government agencies not only in New Jersey, but around the entire country.   This recent article in the Legal Intelligencer examines the situations for towns in Pennsylvania and California, which have spiked demand for specialized counsel in municipal finance and public entity reorganization and bankruptcy.

 Despite budget cuts in New Jersey and its municipalities, this mounting concern is not expected to recede any time soon, and has some focusing on not only further reductions in public employee related expenses, but also ways in which further savings can be realized, including government reorganization, mergers and even relief from the bankruptcy process.  Stay tuned, as this is not going away at any time in the near future.

Related articles

• Tax appeal refunds continue to take bite out of municipal budgets. (realestatetaxappealsnj.com)
• California Budget Woes Shut 70 Parks; (annlrd.wordpress.com)
• NJ Senate To Vote On Funding For Struggling Municipalities (newyork.cbslocal.com)
• You: A Small City’s Depleted Pension Fund Rattles Rhode Island (nytimes.com)
• Lobbyists Push For Restoration Of N.J. Budget Without Gov. Christie’s Cuts (newyork.cbslocal.com)
• Grassroots Movement Calling For Municipal Consolidation In New Jersey (newyork.cbslocal.com)