The "City Fiscal Conditions 2016" report by the National League of Cities is willing to allow new levels of optimism.
A new report from the National League of Cities indicates high levels of optimism among municipalities regarding finances. The "City Fiscal Conditions 2016" report surveyed officials from 19,000 cities, towns and villages, finding that "they expect city incomes to fully recover by next year -- a decade after the start of the Great Recession," according to an article by Liz Farmer.
"Currently, officials estimate that city revenues (accounting for inflation) have reached 96 percent of what they were in 2006, the year before the recession started," adds Farmer, and "81 percent feel they're better able to meet their needs than they were last year."
All in all, it's "one of the most optimistic responses in the 30-year history of the NLC’s annual fiscal survey." The article provides additional details about the revenue and spending equations that have helped some cities recover faster than others. For one caveat, the report also cited income inequality as a continued concern during the economic recovery.
For comparison's sake, Planetizen also covered the National League of Cities' fiscal reports from 2015 and 2014.
Read the full story: City Revenues Expected to Finally Recover From Recession
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