Cities’ rainy-day strategies vary

Some use reserves to balance budgets; others are holding on to cash

By Patrick Cliff / The Bulletin
September 18, 2009

Much as families do, when cities confront emergencies like this recession, they often have to spend some of their savings, which they call reserves and contingencies.

Cities hold on to the money for emergencies, to cover operations or to fund large projects. A city's contingency, or reserve, of....

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