A new report shows some of Alabama’s largest municipalities have very low financial reserves. Local governments rely a lot on sales taxes and revenues have been lower since the recession. The report from the Public Affairs Research Council of Alabama finds that the City of Montgomery had a negative fund balance for 2010, though the city’s finance director disputes that. Kyle Whitmire says many other communities may be in the black, but they’re still dangerously vulnerable.
Alabama Municipalities Dangerously Vulnerable
