I. The Principles of Finance

A. Interdependence
B. Diversity

II. Revenues

A. Criteria for Evaluating Taxes
B. Major State and Local Taxes
C. User Fees
D. Severance Tax
E. Gambling: Lotteries and Casinos

III. The Political Economy of Taxation

A. Spending
B. Tax Revolt
C. State and Local Debt
D. Fiscal Stress
E. Limited Discretion

IV. Borrowing and Debt

A. State and Local Debt
B. Estimating Revenues
C. Rainy Day Funds
D. Other Financial Management Practices

V. State and Local Financial Relations

A. An Uneasy Relationship
B. What Local Governments Want from the States

VI. State and Local Finance at the Millennium