This handbook evaluates the persistent problems in the fiscal systems of state and local governments and what can be done to solve them. Each chapter provides a description of the discipline area, examines major developments in policy practices and research, and opines on future prospects.

At a time when the slow pace of economic recovery and continuing reductions in state and federal assistance underscore our need for strong leadership in financial management, this volume offers a deeper understanding of financial theory and practice for its own sake.