‘Wall Street Journal’ ranks Glendale 2nd most financially troubled city

By Mary K. Reinhart | The Republic | azcentral.com

Two weeks after Tom Duensing took over Glendale’s top finance job, the city wound up in the same sentence with bankrupt Detroit in a Wall Street Journal article about the nation’s most financially troubled municipalities.

Glendale ranked second in the U.S., according to the story, thanks to a $26.6 million negative fund balance at the close of fiscal 2012, due largely to sports-related debt.

During a recent interview in his third-floor City Hall office, Duensing leaned over and circled the figure on a city ledger, black-and-white evidence of Glendale’s structural deficit as he prepares the City Council for a difficult budget season and some painful decisions.

Continued:

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December 10, 2013

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