At the end of the fiscal year 2022, 53 cities did not have enough money to pay all of their bills.

This year's report highlights the volatility and risk surrounding pension plan assets and corresponding pension liabilities.

Truth in Accounting has released its sixth annual Financial State of the Cities report.

Despite receiving federal assistance from the CARES Act and other COVID-19 related grants, the majority of cities’ finances worsened. Total debt among the 75 largest U.S. cities amounted to $357 billion at the end of the fiscal year 2020, which was $23.5 billion worse than the last fiscal year.

By Mariel Carbone, includes “The city budget is finally balanced, but it took $67 million of American Rescue Plan funding to make it happen. On Thursday, at the first public hearing for Cincinnati’s 2022 budget, groups made their case to receive a portion of what’s left. But members of council are still uncertain about the city’s financial future. Decisions made in Columbus could radically change Cincinnati’s plans.”
 

The 2021 Financial State of the Cities (FSOC) surveys the fiscal health of the 75 largest municipalities in the United States. This data is released today by Truth in Accounting (TIA), a think tank that analyzes government financial reporting.

Our fifth annual Financial State of the Cities report. This analysis surveys the fiscal health of the 75 most populated US cities prior to the coronavirus pandemic. 

Millions of Americans are now working from home, with the pandemic shutting down their offices since last March.

Our fourth annual report on the financial condition of the nation's 75 largest cities. 

What would you do if your monthly credit card bills jumped more than 50 percent over 10 years? What's worse, you're nearly maxed out on those cards, because you needed to keep borrowing to keep up with expenses.

Ohio got straight D grades across the board – statewide and its four most populous cities – for their lack of financial health, according to a recent report produced by the Chicago-based organization, Truth in Accounting (TIA).