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.
Panelist Charles Blain, president of the Urban Reform Institute, said, “I love the Financial State of the Cities Report. It really breaks it down. What I think is so important in this is they really highlight the fact the city has put zero cents to the other post employee benefits. … Houston is the worst for every city in Texas. Every time the mayor and the city council say they balance the budget know that is not true.”
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 Danielle Moran, includes “… State and local government pension funds are a powerful force in investing, overseeing more than $5.5 trillion in assets, according to the National Association of State Retirement Administrators. Though as stewards of taxpayer funds they’ve been slow to pile into the speculative mania around cryptocurrencies, Houston’s step isn’t unprecedented. …”
Includes “… The trigger was the award of $15 million to build a Clear Lake multi-family housing complex in which the Mayor’s former law partner is a co-developer. … The Mayor overrode the recommendations of McCasland and his staff, who pointed out that $16.2 million could have created four times the number of affordable units in poorer neighborhoods. Those projects all scored higher in the competition for funding.”
Truth in Accounting has released a new analysis of the 10 most populous U.S. cities that includes their largest underlying government units.
By Chantal Rice, includes “compared to many of Texas' big cities, Houston is hardly making the grade fiscally. That’s according to a recent report from nonpartisan, nonprofit think tank Truth in Accounting. Houston earns a D grade for its financial health in Truth in Accounting's new Financial State of the Cites 2021 report, a comprehensive analysis of the fiscal health of the top 75 most populated cities in the U.S.”
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.
Truth in Accounting has released a new report on the 10 largest U.S. cities. The City Combined Taxpayer Burden report analyzes the finances of each city, its county, state, and underlying government units.
Plano, Texas, ranks fifth-best in the 4th annual "Financial State of the Cities” report published by the nonprofit financial watchdog Truth in Accounting (TIA).
Our fourth annual report on the financial condition of the nation's 75 largest cities.
Now, Mayor Sylvester Turner, having overhauled the city’s troubled pension systems, is running for re-election and touting the reforms as his signature policy accomplishment
Taxpayers in the ten largest U.S. cities face an average burden of nearly $50,000 each to pay debt incurred by county, state and “off-balance-sheet” city government entities, according to a new report released by the nonprofit organization, Truth in Accounting (TIA).
Houston schools will offer free meals to all students this year, but there’s no guarantee that will help more families who are still recovering from Hurricane Harvey, which struck a year ago this week.
Nobody likes higher taxes, but a watchdog group says there is a 'debt bomb' ticking away in Texas cities, and it is likely to explode soon and require sharply higher taxes for everybody, News Radio 1200 WOAI reports.
Most taxpayers are aware of the federal government's national debt, but new study aims to shed light on state and local tax burdens many of us take for granted.
TIA's new analysis of the 10 most populous U.S. cities and their largest local government units shows you're on the hook for more debt than you think.