ReportWire

Tag: public economics

  • Beverly faces nearly $4 million budget shortfall this spring

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    BEVERLY — The city is facing a nearly $4 million shortfall in funding the fiscal 2027 operating budget.

    That number — $3,921,385, to be exact — was in a report by Beverly’s Financial Forecasting Committee released this month.

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    By Caroline Enos | Staff Writer

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  • Report: Mass. cities, towns face ‘historic’ fiscal crisis

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    BOSTON — Massachusetts cities and towns are facing a “historic fiscal crisis” amid rising operating costs, lackluster state aid and restraints on property tax increases, according to a new report.

    The “Perfect Storm” report, released by the Massachusetts Municipal Association, found that while state government spending has increased by an average of 2.8% per year since 2010 to meet its needs, restraints on local revenue sources – including Proposition 2 1⁄2 – have held city and town spending to just 0.6% per year.


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    By Christian M. Wade | Statehouse Reporter

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