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.

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. 

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

The one-page letter, apparently emailed to all members of the General Assembly, said any pension changes made during the 2018 legislative session must include “moving all future employees from a defined-benefits system to a defined-contribution system.”

The modest subsidy of public school alternatives is now the only way to both rescue government public pension plans — the cumulative underfunding of which has been estimated as high as $6 trillion — and thus keep promised benefits reasonably intact.