Program Outline

Urban Economics and Growth

• What underlies state and local government finances
• Defining the urban economy
• Sources of urban growth
• Competition amongst cities
• Real estate markets

Government Organization and Structure

• How governments are structured, as related to finances
• Intergovernmental relations
• Metropolitan governance and fragmentation

Public Finance Fundamentals

• Demand for public services
• Principles of taxation
• Property taxation
• Sales, excise and income taxation
• Business taxes
• Intergovernmental grants

Capital and Operating Budgets

• Components of the capital and operating budgets of state and local governments
• Budgetary process
• Major expenditure drivers: pensions and healthcare
• Multi-year capital budgeting
• Relationship of the budget to annual financial statements

Debt Financing

• Municipal bond market overview
• Types of bond financing
• Debt issuance process
• Credit analysis