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Third Annual Public Finance Leaders Survey
Welcome to HilltopSecurities' 2026 survey of public finance leaders. Your responses are secure and anonymous. It just takes a few minutes to answer these questions.
1.
What are the biggest challenges facing your public entity in 2026? Choose four (4).
(Required.)
Labor and Staffing
Budget and Pension
Infrastructure Needs
Federal Legislative Changes
Local Legislative Changes
Construction Costs
Social and Political Climate
Housing Development Pace
Cybersecurity
Insurance and Liability Costs
Crime and Public Safety
Supply Chain
Environmental Risks
Energy Costs
Immigration Impacts
Resilience Project Funding
Real Estate Valuation
Workforce Impact from AI Implementation
2.
Are you using artificial intelligence (AI) in your current role?
(Required.)
Yes, I use it daily
Yes, I use it weekly
Yes, I use it monthly
No, I need more training
No, I don’t need AI
No, I don’t have access
3.
How do you expect AI to affect your workforce over the next three years?
(Required.)
Reduce full-time headcount
Reduce the need for external business consultants or companies supporting your public entity
Minimal workforce impact expected
Increase need for new skills and retraining
Increase need for governance and support staff
Increase full-time headcount
Too early, or uncertain to assess
4.
What type of change, if any, do you expect in your organization’s budget given the current policy and economic environment?
(Required.)
Highly cautious: 4% or higher cuts to budgets/capital plans
Cautious: budget reductions up to 4%
Neutral: forecasts consistent with last year
Opportunistic: budget increases up to 4%
Highly opportunistic: 4%+ or higher increases to budgets/capital plans
5.
Which statement best describes your entity’s position on data center development?
(Required.)
We host data centers and view them as a net positive (tax base, jobs, diversification).
We host data centers, but fiscal benefits have been mixed or lower than expected.
We are pursuing data center development.
We are evaluating proposals but have concerns about infrastructure, water, energy or long-term costs.
We have limited or no interest in attracting data centers.
Data center development is restricted or discouraged by policy or regulation.
We have no opinion.
6.
How does your entity view the risk of energy costs today?
(Required.)
Not a concern
Concern for the current fiscal year
Long-term concern
Near- and long-term concern (actively managing or hedging)
Near- and long-term concern (not currently managing or hedging)
7.
If you were to issue debt next year, what would be your top two priorities? Choose two (2).
(Required.)
Core infrastructure (roads, bridges, transit)
Water and wastewater systems
Public safety (police, fire, emergency services)
Schools and education facilities
Municipal facilities and capital improvements
Affordable housing
Economic development and redevelopment
Technology and digital infrastructure
Climate resilience and sustainability projects
Power, utilities, and energy transition
Healthcare facilities
EV Infrastructure including charging stations
8.
What type of public entity do you represent?
(Required.)
City, Town, or Village
County
State agency
Utility (water, electric, gas)
School district (K-12)
Higher Education
Transportation authority
Housing or economic development authority
Advisor/market participant
Other (please specify):
9.
In what state is your public entity located?
(Required.)
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia (DC)
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
US Territory
10.
Optional:
Do you have any comments regarding this survey?
11.
Optional:
To be entered into our Conference Drawing for a chance to win a prize, please provide your contact information. See
hilltopsecurities.com/disclosures
for Official Rules.
First Name
Last Name
Email Address
