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A descriptive case study of the greene county, alabama bankruptcy

Keren Deal (Department of Accounting and Finance, Auburn University Montgomery)
Judith Kamnikar (Auburn University)
Edward Kamnikar (University at Montgomery)

Journal of Public Budgeting, Accounting & Financial Management

ISSN: 1096-3367

Article publication date: 1 March 2009

105

Abstract

To date, only two counties in the United States have filed for bankruptcy protection: Orange County, California (1994) and Greene County, Alabama (1996). This case study pertains only to Greene County. Although economic decline due to a loss of gaming revenues was involved, financial mismanagement was the primary causal factor for Greene County’s fiscal stress. This research chronicles an impoverished rural Alabama county whose legislative and administrative decisions resulted in its fiscal stress and municipal bankruptcy. The Greene County bankruptcy case was closed in 1999 and the County continues to operate under a fiscal recovery plan. However, the County has yet to comply with the miscellaneous provisions of the bankruptcy plan that could improve the financial management of the County.

Citation

Deal, K., Kamnikar, J. and Kamnikar, E. (2009), "A descriptive case study of the greene county, alabama bankruptcy", Journal of Public Budgeting, Accounting & Financial Management, Vol. 21 No. 3, pp. 337-365. https://doi.org/10.1108/JPBAFM-21-03-2009-B001

Publisher

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Emerald Publishing Limited

Copyright © 2009 by PrAcademics Press

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