Sunday, October 10, 2010

Frightening Charts Show Record Low Revenue, Worst-Ever Austerity Measures For US Cities

Frightening Charts Show Record Low Revenue, Worst-Ever Austerity Measures For US Cities

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Municipal pain is at its worst level on record, according to annual report from the National League of Cities.

Revenue is 3.2% lower than last year, which was already at record lows. It may get worse next year as property taxes decline to reflect fallen property values.

Cutbacks in government spending are also at record levels.

The fiscal bloodshed you hear about in Los Angeles and New York -- not to mention state governments -- is probably taking place in your home town.

87% of cities are Less Able to meet fiscal needs compared to last year

87% of cities are Less Able to meet fiscal needs compared to last year

Image: National League of Cities

Source: National League Of Cities

Cities that depend on property tax suffer the most

Cities that depend on property tax suffer the most

Image: National League of Cities

Source: National League Of Cities

Western cities -- home to the largest property collapse -- are having the hardest time

Western cities -- home to the largest property collapse -- are having the hardest time

Image: National League of Cities

Source: National League Of Cities

Revenues have fallen for four straight years. Austerity really kicked in this year

Revenues have fallen for four straight years. Austerity really kicked in this year

Image: National League of Cities

Source: National League Of Cities

Property tax revenues posted the largest decline this year and last

Property tax revenues posted the largest decline this year and last

Image: National League of Cities

Source: National League Of Cities

Here are the details on factors influencing the budget.

Here are the details on factors influencing the budget.

Image: National League of Cities

Source: National League Of Cities

Here's the impact of those factors on the budget. ALMOST ALL NEGATIVE

Here's the impact of those factors on the budget. ALMOST ALL NEGATIVE

Image: National League of Cities

Source: National League Of Cities

And now the austerity measures: Personnel cuts, delayed projects and cuts in services lead the barrage

And now the austerity measures: Personnel cuts, delayed projects and cuts in services lead the barrage

Image: National League of Cities

Source: National League Of Cities

Forms of personnel cuts include hiring freezes, reduced expense accounts, and salary freezes

Forms of personnel cuts include hiring freezes, reduced expense accounts, and salary freezes

Image: National League of Cities

Source: National League Of Cities

Now here's how they're making up revenue: NEW TAXES AND FEES

Now here's how they're making up revenue: NEW TAXES AND FEES

Image: National League of Cities

Source: National League Of Cities

Cities CANNOT run over the budget -- unlike the federal government -- but they're coming close

Cities CANNOT run over the budget -- unlike the federal government -- but they're coming close

Image: National League of Cities

Source: National League Of Cities

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