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North Carolina’s County and Municipal Fiscal Analysis Tool: Research Review

Have you ever used the County and Municipal Fiscal Analysis tool that is housed on Treasurer’s website?  It allows municipalities and counties in the state to see how they are doing with regard to financial condition and compare their performance to peers.  It has recently become the focus of new research coming from colleagues at the University of South Dakota and Indiana University.  Ed Gerrish and Luke Spreen presented their research on our benchmarking tool earlier this month at the Public Management Research Conference and it is forthcoming at the Journal of Public Administration Research and Theory.  In this Research Review I am going to discuss their research and pull a few findings that are especially notable for those of you that work in budgeting and finance.

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IAAO Course Prerequesites

Let’s go over them.

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It was an (im)perfect illusion: Fiscal Illusion and You

Fiscal illusion, sounds catchy doesn’t it?  Does it sound more like something you would read about on an ophthalmology website than a blog on taxes?  Well, that is where you are wrong.  Fiscal illusion is a hypothesis surrounding the notion that citizens systematically misunderstand their true tax burdens and the benefits they receive from government-provided services. In other words, they do not understand how much they pay in taxes or the value of the services that government provides.

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Communicating and Sharing Information

As this year’s North Carolina Association of Assessing Officers (NCAAO) President, I’ve tried to make good communication one of my priorities. Across North Carolina, we have received appeals from common taxpayers. There are a lot of them. We can call them multi-jurisdiction taxpayers and define them as individual taxpayers with real and personal property in more than one jurisdiction. It only makes sense for that taxpayer to keep track of how each of us responds to appeals. Which of us concede easily? Which of us have accurate data and can defend our values? Are there any counties that do not have the financial or other resources available to defend values?

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Appraisal and Reappraisal. Just Do It?

In late 2014, just after joining the SOG, the NCDOR included me in the initial discussions among assessors about North Carolina’s reappraisal standards. This blog post includes some of the thoughts and questions that I shared with the group at that time. Please keep in mind that this post is written informally, from my perspective during late 2014. I was discussing with the committee, mainly through emails, whether the assessment system our taxpayers deserve was being delivered. On the other side of an inadequate reappraisal, I wasn’t sure our lawmakers in Raleigh would accept an excuse of, “We weren’t given the needed resources”.  I’ll refer again back to this related blog post on ways to request what is needed.

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You Are Doing WHAT to the Governmental Funds?? – Part 3, The Long-Term Approach

Yogi Berra said it best.  “It’s déjà vu all over again.”  That is what should come to everyone’s mind upon reviewing the third measurement focus and basis of accounting proposal from the Governmental Accounting Standards Board’s (GASB) recent Invitation to Comment (ITC), Financial Reporting Model Improvements – Governmental FundsAs was noted in the previous blog post You Are Doing WHAT to the Governmental Funds?? –  Part 2, the Short-Term Approach, each proposal is moving further and further away from the current financial resource measurement focus and the modified accrual basis of accounting currently used in the governmental funds.  Well, this is an all-out retreat!!  In fact, it is also being referred to as the total financial resources approach.

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Crowdsourcing for Local Governments: Research Review

Research Review is a place for me to bring you academic research that I think might be of interest or relevant to you all.  It is not necessarily the Cliff notes of the paper, but it will present some key findings or insights from the paper.

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Training Opportunity: Local Government Federal Credit Union FELLOWS

I know we typically only talk taxes and finances here on Death & Taxes, but I wanted to take the opportunity and let you all know about a dynamic and engaging leadership development opportunity through the School of Government.  The Local Government Leadership Credit Fellows program focuses on personal and organizational leadership skills and aims to develop the next generation of local government leaders.

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You Are Doing WHAT to the Governmental Funds?? – Part 2, The Short-Term Approach

In our last chapter, You Are Doing WHAT to the Governmental Funds?? – Part 1, The Near-Term Approach, we explored one of the three new measurement focus and basis of accounting (MFBA) options being considered for the governmental funds.  These approaches are presented in the Governmental Accounting Standards Board’s recent Invitation to Comment (ITC), Financial Reporting Model Improvements – Governmental Funds.  And you thought it was a scary chapter!?? The suspense continues with the second MFBA proposal – the short-term (or working capital) approach.  One spoiler alert (but it is for your own good) – each approach goes further away from the current resource measurement focus and modified accrual basis of accounting currently used by the governmental funds.  (Just wait until you read Part 3….)

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Are you a Tax Administrator or a Tax Supervisor? Of course you aren’t

Try this online exercise. Go to Chapter 105 of the North Carolina General Statutes. Here’s a link. Once there, most browsers will allow a search feature. A common way to search in many software applications is to press the <Ctrl> key +F. Now search all of Chapter 105 for “tax administrator”. It doesn’t exist. But there are lots of tax administrators in North Carolina, right? Now search all of Chapter 105 for “tax supervisor”. The tax supervisor is referenced 9 times in the Machinery Act. And if you read the context of those references, there are a few important roles involved there. How many counties have a tax supervisor to fulfill these roles?

 

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