Analytical essay example
The New York City Financial Crisis and Its Regional Effects
- Subject
- Nursing & Healthcare
- Type
- Analytical essay
- Citation style
- APA 6
- Length
- 6 pages
About this sample
The paper examines how the New York City financial crisis affected New York State, neighbouring states such as North Carolina, and the municipal bond market, with a focus on disclosure requirements and capital budgeting practices. It then recommends planning and capital improvement proposals for the New York City government and briefly discusses the Orange County crisis, using headed sections. Although filed under healthcare and nursing, the content covers public finance and does not address health care.
- New York City financial crisis
- Municipal bonds and bond market disclosure
- Capital budgeting and operating budgets
- Debt financing and bonding
- Recommendations for municipal financial planning
- Orange County fiscal crisis
How it opens
The impact on New York City
Although New York State received assistance from the federal government and other parties, the financial crisis profoundly affected the state. To start with, New York State began to experience increased interest rates, and there was the emergence of the need for detailed financial disclosures.
Impact on other local governments
The situation also had an effect on regional states such as North Carolina. The New York City financial crisis led North Carolina to experience interest costs of $424000 on bonded indebtedness and $5.1 million in the life of municipal bonds (Smith & Lynch, 2003).
Impact on bond market and prospectus requirements
The crisis also affected the bond market in that most investors required more disclosure of details regarding the bonds and the community. This is in contrast to the earlier times where the state and local governments traded their bonds without disclosing much information.
What the New York City financial crisis indicated about the operational and capital budgeting processes
The New York City financial crisis revealed some aspects of its capital budgeting processes. The New York state was moving most of its costs from operating to capital budgets. Classifying band uniforms as capital budget items has a significant repercussion. This categorization can result in the distortion of the view of capital items such that there occurs two operating budgets with one of them being funded through debt (Smith & Lynch, 2003). As a result, there are fewer finances for budget demands, more state resources utilized for debt retirement, and the misuse of bonding.
The opening section, transcribed from the PDF. The full paper continues below.
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Using an example well
Read it for how the paper is built, not for wording to reuse: how the introduction frames the question, how each paragraph moves from a claim to evidence, and how sources are cited in APA 6. Submitting any part of it as your own work would be plagiarism, and it is written for a different brief than yours.
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