News
Boliek: Financial distress becoming trend in NC cities
State Auditor Dave Boliek says his office is seeing a growing trend of financial difficulties in municipalities across North Carolina.
Opinion
Meeting our needs without taking on more government debt
I’ve been doing a lot of thinking lately about local government debt. It all started when I was preparing for a presentation and took a look at the Wake County budget for this year. I nearly fell out of my chair. This year alone, Wake County’s budget includes just more than $273 million in debt service. To break that down a little bit,...
Opinion
Impact-fee policy needs clarity
Ambiguity can sometimes be helpful in resolving disputes. But when it comes to charging North Carolinians for local services, what we need is clarity.
Opinion
Convention center surviving because taxpayers subsidize it
The first week of January, Triangle Business Journal ran a story with the headline, “Raleigh Convention Center director wants to double its size.” In it, Doug Grissom, director of the Raleigh Convention Center, said there was more demand than the center could meet and that he’d like to double the space available for events. “We’d...
Opinion
Please Raise This Tax
The main justification for exempting state and local bonds from taxation is that it helps governments afford important capital projects such as schools and roads.
Opinion
Charlotte Races Into Economic Impact Projection Hall of Shame
Dubious numbers helped provide political cover as politicians lured the money-losing NASCAR Hall of Fame to the Queen City.
Opinion
President Obama’s Good Ideas
Government should set expiration dates on benefits, and impose work requirements in the meantime, so that recipients will get the right signals and respond accordingly.
Opinion
Public Needs Vs. Public Wants
Rather than gravitate toward more fiscally sound decisions, some local governments have started becoming more desperate -- considering projects on their wish list rather than their need list.
Opinion
Let’s Make a Deal
For a growing number of cities and municipalities, when fiscal times get tough, the tough go…to the market. Take recently cited examples from Dallas, Los Angeles, Chicago, Las Vegas, Nassau County NY, and Pittsburgh PA. All are looking for new angles to increase local revenues. They are looking for cash cows. Many are liquidating the civic assets that were supposed to be cash cows for the community in the first place.
Opinion
Flashback: Please Raise This Tax
Please raise the tax on state and local government bonds – immediately.
Opinion
Toxic Brew for Taxpayers
RALEIGH — Government isn’t run like a business. It does, however, often offer aid — politely called “incentives ” — to businesses. And that can be a toxic brew for taxpayers, especially if local governments don’t engage in the same sort of due diligence that a well-run business would. Winston-Salem’s involvement in building a new minor league baseball stadium highlights the problem.
Opinion
A Forced Annexation Fallacy
There's no evidence that cities need the power of forced annexation to boost their economic health.
