Late budgets reflect governance weakness

Source: Genevieve Nolan, Joshua Grundleger, Pisei Chea, Baye Larsen, Marcia Van Wagner, Nicholas Samuels, Emily Raimes, Timothy Blake, Moody’s, Sector Comment, State government – US, July 3, 2019
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Five states lack an adopted budget more than a week after their new fiscal years began on July 1. While it is unlikely that the delays will pose any risk of missed debt payments, late budgets expose local governments to missed state aid…..