During the Great Recession, cities and states saw revenue declines and expenditure increases. This led to record levels of fiscal stress resulting in service cuts, deferred maintenance of infrastructure, and reduced payments to pensions and other liabilities. This webinar will focus on how state and local governments can adopt best practices and strategies now in order to mitigate the impacts of any future recessions. This may include maintaining adequate cash balances, stress testing revenues and expenditures, and reviewing fees and benefits.
To understand the practices and strategies firsthand, we will be joined by Michael Nadol, managing director of the PFM Group, and Laura Porter, managing director and head of U.S. public finance at Fitch Ratings, in conversation with the Hutchins Center’s David Wessel. The presentations will be followed by a discussion with webinar participants.
The annual Municipal Finance Conference is sponsored by the Hutchins Center on Fiscal and Monetary Policy at Brookings, the Rosenberg Institute of Global Finance at Brandeis International Business School, the University of Chicago Harris School of Public Policy, and Olin Business School at Washington University in St. Louis. The 2020 conference will be held at Brookings on July 13-14, 2020.