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Andrew Crosby ACF Abstract FY11

"First Aid for Michigan Municipalities: Band-aids or Tourniquets"

Conference Name: Association for Budgeting & Financial Management Annual National Conference

How do local governments react to fiscal instability? Do they make dramatic reductions and tax rate increases? Or do they maintain current expenditures through increased short and long-term borrowing? Using the annual reports collected and posted by the Michigan Department of Treasury we plan to evaluate revenue, expenditure, and borrowing patterns over the past six years (2004-2009) for Michigan municipalities to answer these questions.