Fiscal Retrenchment And Privatization A problem that is always on a city's mind is its economic state. When a city finds that $3.8 million has been misappropriated in different funds, it has to question if it is headed towards a fiscal crisis. With a new mayor and township council, there was an investigation done into the township finances. Going back since 1996 there a deficit of $3.8 million dollars has been missing. Where has this money gone, and what is this new council going to do to get it back and keep the township going? One possible solution to this fiscal problem may be fiscal retrenchment and privatization. Fiscal retrenchment occurred during the mid 1970’s when “cities were forced to reevaluate their roles, regardless of whether they were in fiscal trouble”. (Knox, 362). This caused many cities to look at their economic standings and see where cut bac....

Number Of Pages: 3

Number Of Words: 595

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