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 Corianna Baker, includes “… All the cities on this list, including Kansas City and St. Louis, have balanced budget requirements, meant to ‘prevent elected officials from shifting the burden of paying for current-year services to future-year taxpayers.”
From Feb. 5, includes “… We do not know who will win the big game, but we do know which home city is in the best financial position. In the case of financial health we have a clear winner: Tampa. …”
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.
Plaintiff lawyers want insurance companies to absorb the cost to business of the Covid-19 pandemic—and they’ve had some early successes
Monday marks the start of a new order in Kansas City requiring people to wear masks in public spaces. Mayor Quinton Lucas said the health order, which comes after several days of record new COVID-19 cases in the area, will help businesses.
No city will escape the economic pain of the coronavirus, but Kansas City may be in worse shape than most.
Our fourth annual report on the financial condition of the nation's 75 largest cities.
Kansas City’s next mayor will inherit a municipal budget stretched to cover a lengthening list of urgent needs.
Annual forum this November 6, intro includes “The annual event is an opportunity for accounting professionals and banking supervisors to interact and discuss current accounting and auditing issues related to banking. …The target audience for this event includes financial officers, accountants and internal auditors associated with state member banks, bank holding companies and savings and loan holding companies. Additionally, the Forum is appropriate for external auditors, outsourced internal auditors and consultants providing accounting services to financial institutions.”
Missouri’s two biggest cities aren’t especially well run according to a survey by personal finance website Wallethub.
It won't be a surprise to readers of this blog that Kansas City and St. Louis are in bad financial shape.
Against the backdrop of pervasive underfunding, many state and local pension plans have increasingly turned to alternative investments such as private equity, hedge funds, and real estate in recent years.