Despite city budgets that continue to register the effects of the economic downturn, cities are better able to meet their financial needs than in previous years.
- City finance officers report that their cities are better able to meet financial needs in 2012 than in 2011.
- Findings suggest that city fiscal conditions have passed the low point of the effects of the recession, with conditions beginning to improve relative to previous years, which were the trough of the Great Recession.
In 2012, 57 percent of city finance officers report that their cities are better able to meet fiscal needs than in 2011. City finance officers' comparative assessment of their cities' fiscal conditions from year to year in 2012 improved from their 2011 assessment, when the same percentage (57%) said their cities were less able to meet financial needs than in 2010, and considerably improved from their 2010 assessment, when 87% reported they were less able to meet needs.
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