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Did Municipal Stabilization Funds Effectively Smooth Expenditures During The Great Recession?, Lauren Kesselring
Did Municipal Stabilization Funds Effectively Smooth Expenditures During The Great Recession?, Lauren Kesselring
MPA/MPP/MPFM Capstone Projects
Budget stabilization fund (BSF) is a general term for rainy day funds, contingency funds, and reserves. Historically, researchers have studies BSFs at the state level. However, after the Great Recession municipalities have increasingly adopted BSFs. So far, there are several unknowns surrounding municipal BSFs. The intent of this paper is to start addressing some of these unknowns. The paper seeks to answer the question, did municipal BSFs smooth expenditures over the Great Recession? This study uses data from Lexington-Fayette Urban County Government and eleven comparable municipalities.
The municipality BSF literature is in its infancy. Previous research has focused on state …