City Fiscal Conditions 2024

The financial health of municipalities post-COVID has improved, but cities must plan for long-term fiscal sustainability as federal aid, like ARPA, sunsets. Cities have used this funding to expand general fund programs and address pandemic-related revenue losses. While property tax revenues remain strong due to rising values, revenue growth is slowing, prompting cities to adopt more conservative budgets. To maintain stability, cities must explore alternative funding sources, closely monitor expenditures, and plan for future economic shifts, ensuring they can continue delivering essential services amid evolving fiscal conditions.