While the economy overall may be slowly recovering, public-sector budgets won't see much relief until a year or more after the U.S. economy finally stabilizes.
“[The public sector] is always at least a year and a half or two years behind the rest of the economy when it comes to recovery,” says Sarah Perry, risk manager for the City of Columbia, Mo.
Municipalities, she explains, have to base budgets on the numbers they have on hand; they can't project variables like tax hikes or other revenue increases into the budget.
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