Intergovernmental Costs of Political Gridlock: Local Government Cash Flow Smoothing during State Budgetary Delays
Abstract
Political gridlock in state legislature often leads to a failure in adopting a budget by the start of a fiscal year. This article examines the intergovernmental implication of late state budgets, specifically the cash management problem faced by localities during the stalemate. Without legislative appropriations, the state government could delay expected transfers and payments to localities. Late intergovernmental transfers may force localities...
Paper Details
Title
Intergovernmental Costs of Political Gridlock: Local Government Cash Flow Smoothing during State Budgetary Delays
Published Date
Oct 4, 2019
Journal
Volume
48
Issue
1
Pages
102 - 134
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