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There is no doubt that the fiscal crisis the world has faced since 2008 will go down as one of the worst since the Great Depression. Many local, state and national governments are still trying to recover from its effects. While the national discussion in the US seems to have centered on deficit spending and tax policy, neither of these are realistic options for states or local governments. While the national discussion in the US seems to have centered on deficit spending and tax policy, neither of these are realistic options for states or local governments. Not only do local governments lack the authority to pass budgets with deficits, their revenue raising options are often curtailed by state-imposed tax-expenditure limitations. The current era of fiscal retrenchment necessitates the need to conduct continual analysis and to use the information as a tool for financial decision-making.