1. The Local Budget as a Complex System—Concepts and Definitions -- 2. Fiscal Sustainability in the Short and Long Runs -- 3. The Revenue Module -- 4. The Expenditure Module -- 5. Debt -- 6. Economic Development -- 7. The Feedback Loop -- 8. Sustainability and Bliss -- 9. Conclusions and...

The budgets governments present around the beginning of their fiscal years and the financial statements they publish in their annual reports after their fiscal years have ended are critical tools for legislators and voters to hold them accountable. The transparency of these documents to...