Public Finance System Overview: Australian States And Victorian Municipalities Feb 13
Standard & Poors, February 2013
Abstract
The system, or institutional framework, in which public finance entities operate is a crucial component in rating local and regional governments (LRGs) under Standard & Poor's Ratings Services' methodology (see "Methodology For Rating International Local And Regional Governments" published on Sept. 20, 2010). When assessing system supportiveness for each jurisdiction, we take into account: The predictability of the evolution of the financing system and intergovernmental relations; The match between revenue and expenditure responsibilities; The degree of transparency and accountability; and The probability of extraordinary support from other levels of government. While we expect the same system characteristics to affect entities that belong to the same jurisdiction, we note that each entity has different strengths and weaknesses. This would mean that...
Companies mentioned in this report are:
- New South Wales (State of)
- Queensland (State of)
- South Australia (State of)
- Victoria (State of)
- Western Australia (State of)
- Tasmania (State of)
- Melbourne (City of)
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- New South Wales (State of)
- Queensland (State of)
- South Australia (State of)
- Victoria (State of)
- Western Australia (State of)
- Tasmania (State of)
- Melbourne (City of)
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