Fiscal distress definition

Fiscal distress means a fiscal condition based on a
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Fiscal distress means a situation whereby the provision and sustainability of public services, or the
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Fiscal distress means a jurisdiction other than a State that satisfies 1 of the distress criteria set forth in paragraph (3); and
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Examples of Fiscal distress in a sentence

  • Fiscal distress situations have been also observed at the subnational level.

  • Fiscal distress can be categorized by the following criteria: 1) the family poverty rate is 125% or more of the national poverty rate; and 2) the per-capita income is less than 75% of the national average.

  • Fiscal distress weakens a community’s defenses against these forces.

  • Fiscal distress included the following criteria: full valuation per capita less than 50 percent of the statewide average; less than 40 percent real property tax capacity; population loss greater than 10 percent since 1970; and a poverty rate greater than 150 percent of the statewide average.The Budget contains measures intended to help local governments with their long-term planning, including a multi-year funding structure.

  • Fiscal distress indicators: An assessment of current Michigan law and development of a new “early warning” scale for Michigan localities.

  • Fiscal distress included the following criteria: full valuation per capita less than 50 percent of the statewide average; less than 40 percent real property tax capacity; population loss greater than 10 percent since 1970; and a poverty rate greater than 150 percent of the statewide average.

  • There is at least some evidence, however, that markets are imperfect in this regard: Fiscal distress suffered by some ju‐ risdictions causes investors to demand higher interest rates from other jurisdictions deemed to be similarly at risk.37But the more important form of contagion that might cause centralized governments to intervene when decentralized ju‐ risdictions face distress can emerge from the interconnected nature of fiscal risk.

  • Fiscal distress is a multi-dimensional concept with financial, fiscal and socioeconomic aspects.

  • This saves users the cost of collecting new data each time it is required.• Data uniformity: Indicators should be based on uniformly collected and defined data.• Data collection frequency: Indicators should be based on data that is collected at regular andscheduled intervals, which allows “apples to be compared with apples”.• Discern progression: Fiscal distress does not happen overnight but is often a non-precipitous process.

  • Fiscal distress may lead to fiscal crisis, as distress that is not dealt with adequately may degenerate into fiscal crisis, a situation where a munici- pality is unable to provide its citizens with adequate services or pay its bills (Honadle, 2003).


More Definitions of Fiscal distress

Fiscal distress means a fiscal condition based on a municipality’s tax rate, cash deficit, insufficient percentage of tax collections, insufficient collection of other revenues, over-anticipation of the revenues of prior years, non-liquidation of interfund transfers, reliance on emergency authorizations, continual rollover of tax anticipation notes, inefficiencies in the provision of municipal services such that associated costs substantially exceed costs for similar services in other municipalities, or other factors indicating a constrained ability to meets the municipality’s budgetary requirements.
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Fiscal distress means a situation whereby the provision and sustainability of public services, or the ability to appropriately fund financial liabilities, is threatened by various administrative and financial shortcomings, including cash flow issues, inability to pay expenses, revenue shortfalls, deficit spending, structurally imbalanced budgets, billing and revenue collection inadequacies and discrepancies, debt overload, failure to meet obligations to authorities, school divisions, or political subdivisions of the Commonwealth, lack of trained and qualified staff to process administrative and financial transactions, or the inability to timely produce an audited financial report. "Fiscal distress" may be caused by factors internal to the locality or external to the locality, and in various degrees such conditions may or may not be controllable by management or the local governing body or its constitutional officers.
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Related to Fiscal distress

  • Double distressed means satisfying the criteria applicable to a locality described in subdivision E 3

  • Lender-Related Distress Event means, with respect to any Lender, that such Lender or any Person that directly or indirectly controls such Lender (each, a “Distressed Person”), as the case may be, is or becomes subject to a voluntary or involuntary case with respect to such Distressed Person under any debt relief law, or a custodian, conservator, receiver or similar official is appointed for such Distressed Person or any substantial part of such Distressed Person’s assets, or such Distressed Person or any person that directly or indirectly controls such Distressed Person is subject to a forced liquidation or winding up, or such Distressed Person makes a general assignment for the benefit of creditors or is otherwise adjudicated as, or determined by any governmental authority having regulatory authority over such Distressed Person or its assets to be, insolvent or bankrupt; provided that a Lender-Related Distress Event shall not be deemed to have occurred solely by virtue of the ownership or acquisition of any Stock in any Lender or any Person that directly or indirectly controls such Lender by a governmental authority or an instrumentality thereof; provided, further, that such ownership interest does not result in or provide such person with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such person (or such governmental authority or instrumentality) to reject, repudiate, disavow or disaffirm any contract or agreements made by such person or its parent entity.

  • Final disposition means the burial, interment, cremation, removal from the state, or other disposition of a dead body or fetus.

  • Exempt Acquisition means an acquisition by a Person of Voting Shares and/or Convertible Securities (i) in respect of which the Board of Directors has waived the application of Section 3.1 pursuant to the provisions of Subsection 5.1(b), (c) or (d);

  • Terminating Capital Transaction means any sale or other disposition of all or substantially all of the assets of the Partnership or a related series of transactions that, taken together, result in the sale or other disposition of all or substantially all of the assets of the Partnership.

  • Material Disposition means any Disposition of property or series of related Dispositions of property that yields gross proceeds to the Borrower or any of its Subsidiaries in excess of $1,000,000.