Finance officers not optimistic about city finances.

• Position: News Briefs - Brief Article

For the first time since 1993, a majority (55 percent) of finance officers say their cities are less able to meet their city's financial needs than they were the previous year. At least that's what the National League of Cities found in its recently released annual survey of city finance officers. The increased pessimism is based on slower-than-expected growth in revenue from sales, income, and tourist-related taxes combined with increased spending pressure for public safety and security, health care, and infrastructure. State budget woes have only exacerbated the fiscal plight of cities by withholding shared revenues. The respondents reported that sales...