Preventing Local Government Fiscal Crises: The North Carolina Approach

  1. CHARLES K. COE

Article first published online: 30 AUG 2007

DOI: 10.1111/j.1540-5850.2007.00879.x

Issue

Public Budgeting & Finance

Public Budgeting & Finance

Volume 27, Issue 3, pages 39–49, Fall 2007

Additional Information

How to Cite

COE, C. K. (2007), Preventing Local Government Fiscal Crises: The North Carolina Approach. Public Budgeting & Finance, 27: 39–49. doi: 10.1111/j.1540-5850.2007.00879.x

Author Information

  1. Department of Public Administration, North Carolina State University, P.O. Box 8102, Raleigh, NC 27695-8102

Publication History

  1. Issue published online: 30 AUG 2007
  2. Article first published online: 30 AUG 2007

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Some local governments face fiscal challenges due to mismanagement and declining economies. In particular, manufacturing states like Michigan and Ohio have been hard hit by the effects of international competition. To prevent fiscal distress from becoming a crisis, states exercise oversight over local government fiscal management. The three bond rating agencies consider the North Carolina oversight system a model. This paper discusses the North Carolina oversight system, including audit review, technical assistance, debt issuance, and power to take over the financial operations of distressed local units.

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