Revenue Diversification in Arkansas Cities: The Budgetary and Tax Effort Impacts |
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| Authors: | MEAGAN M JORDAN GARY A WAGNER |
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| Institution: | 1. Little Rock's Institute of Government, 2801 South University Avenue, Ross Hall 641, Little Rock, AR 72204, and;2. Little Rock's Department of Economics and Finance 2801 South University Avenue, Reynolds 314, Little Rock, AR 72204 |
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| Abstract: | The consequences of revenue shortfalls for cities are particularly dramatic due to the balanced‐budget requirement. Revenue diversification is one method of stabilizing revenue streams because diversified revenue structures can mitigate the revenue fluctuations often associated with single source revenue. Using audited financial reports, this study examines the impact of revenue diversification in Arkansas cities over 10 years. To address the issue of revenue adequacy, this study examines diversification's impact on current year budget changes in revenue and expenditures as well as its impact on tax effort. |
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