Many factors go into keeping a government agency’s budget balanced, and there are many potential events that could put a budget out of balance. Despite the best effort of state and municipal budget officers, unforeseen and oftentimes external events such as severe weather and disasters, commodity prices, and federal policy changes can place unwelcome stress […]

ic-system-government-recession

As has been previously discussed in this space, many indicators point to a recession descending upon the American economy sometime within the next couple of years. Of course, a recession is an unpleasant topic to think about, but the economy is cyclical, and occasional recessions are inevitable. Given this inevitability, it is important for government […]

economic-growth

The American economy continues to hum along and grow at historic rates. If the current period of economic expansion continues past this coming July, it will become the longest stretch of continuous economic growth on record, surpassing the spell of growth in the 1990s spurred by the tech boom. 2018 saw an average unemployment rate […]

proposal-writing

If you’re in the purchasing or finance department for a government entity, you may find yourself issuing a solicitation for collection services. Whether it’s for county-provided utilities, municipal parking violations, or any other collection needs, governments at all levels have debt to collect from their residents. But how do you ensure that your debt will […]

tax-revenue

Another strong showing for state tax revenue in the third quarter of 2018 meant that all but five states saw a rise in those revenues, according to figures from the Pew Charitable Trusts. Furthermore, the strong quarter implies that 41 states have now seen their tax collections recover to their pre-recession inflation-adjusted peaks. That figure […]

wayfair

Last year, we discussed the possible effects that a United States Supreme Court ruling in the case of South Dakota v. Wayfair would have on state coffers. The ruling last June means that states are now able to collect sales tax on purchases their citizens make from online retailers, even if those retailers don’t have […]

government-excessive-fees-ic system

State and local governments can no longer impose excessive fees and fines after a Supreme Court ruling on Wednesday, February 20. The unanimous decision reinforces the Eighth Amendment to the United States Constitution that “Excessive bail shall not be required, nor excessive fines imposed, nor cruel and unusual punishments inflicted.” Fees and fines of this […]

Local-budgets

A couple of recent news stories have highlighted some of the challenges that state and local government entities face in regards to budgeting. When states and municipalities are planning their budgets, it is important that they keep in mind that external factors can present challenges that are largely beyond their control. The recently-ended federal government […]

older government accounts

Most government offices have only a single-tier debt placement strategy with multiple primary agencies. However, after the initial collection period (about 180 days), collection agencies typically slow down their efforts due to the cost involved in pursuing less collectible, older government accounts. This natural decline in work effort means that, as accounts age, they become […]

State-Spending-Hits-Record-High

In fiscal year 2018, the fifty US states collectively spent over $2 trillion, which is the first time that level has been reached. This is according to the latest State Expenditure Report from the National Association of State Budget Officers (NASBO). The spending was fueled in part by a boost in tax revenue triggered by […]