The collapse or perilous crumbling of our infrastructures, the basic building blocks of the nation's economy, underscores the investment and fiscal policies that confront the nation's leaders as well as the nation's cities' leaders. In this article, the authors focus on one key dimension of the "infrastructure crisis," namely, the critical issues surrounding the financing of city infrastructure and a proposed set of sustainable options available to policy makers, particularly examining trends toward decentralization and fragmentation of governmental and financial institutions and toward market-based and consumer-or customer-oriented policies. Urban policy makers today find themselves in the position of negotiating with neighboring communities, competitive markets, and citizens in a fragmented governance system. What appears to be little more than organized chaos has evolved over decades into the complex, if not always rational, system of infrastructure finance and governance in which cities and other local governments find themselves today.
This article analyzes municipal governments‚ capital spending, and revenue-raising decisions between 1993 and 2000, an era of unprecedented economic growth. It finds that, as anticipated, greater-than-expected revenues allowed many cities to advance projects from their capital improvement plans to their capital budgets. Moreover, the article concludes that growth in cities' own-source-revenue-generating capacity and transfers from carryover or ending balances from earlier years, rather than debt issuances and intergovernmental aid, seem to be the most important fuel for the remarkable growth rate in capital spending.
This article traces developments in budgeting and finance at the local government level over the past 25 years. In doing so, it uses the 290 related articles published in Public Budgeting & Finance over this period as its foundation and as a sieve for topic selection. Specific attention is directed to intergovernmental finance, financial management, budgeting and budget reform, alternative service delivery, and capital budgeting. The intent is to sift through important developments in each area, highlight their significance at the time and their importance to the present and future.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.