Local Budgets Aren't Easily Identifiable Liability

Who do we prepare local budgets for, the citizens of a community or distant Wall Street bond investors? Is it more important that an elected council member know what is going on with a city’s finances, or should our local accounting practices be more responsive to the needs of analysts at ratings agencies?

We all expect cities to put together budgets and maintain financial reports so citizens can understand what is going on and community leaders can make good decisions. That is what we expect, but that’s not how local government accounting actually works.

This member week, we are sharing insights into our new strategic plan, including our five priority campaigns. The goal of the Transparent Local Accounting campaign is to reveal the financial implications of the Suburban Experiment by increasing the transparency of local accounting practices. You can support this campaign by becoming a member of Strong Towns.