Parks and recreation districts receive revenue from a

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Unformatted text preview: repair, improvement, and administration of streets and public highways. Parks and recreation districts receive revenue from a state-run lottery. This revenue is used for open space and recreation programs. The School Finance Act provides funding to local governments and is a significant state-funded program. In addition to traditional revenue sources, since 2009, ARRA funds have provided a major offset to revenue loss for municipalities and districts across the state. Municipal finances continue to struggle as revenue associated with sales and property taxes have failed to return to their pre-2008 levels. Revenue’s failure to recover is a result of persistent low unemployment across municipalities and slow or no growth in property tax revenue. According to the U.S. Bureau of Labor and Statistics, Colorado statewide noneducational local government employment continues to decrease. Although revenue may rise slightly for some municipalities, continued stagnation or declines in revenue for most Colorado local governments will force...
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.

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