At the end of the fiscal year 2022, 53 cities did not have enough money to pay all of their bills.
"Sobering Statistics
The study, called Financial State of the Cities 2023, was done by Truth in Accounting. It has some difficult truths: 50 out of 75 cities could not pay their bills; the combined debt for all 75 cities is $267 billion. Moreover, elected officials didn’t include the cost of government in this figure, instead pushing it onto future taxpayers."
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 David Gura, includes “When Blockchain.com was looking for a new home for its U.S. headquarters, it decided to leave New York and move to downtown Miami. … Cryptocurrencies are seen by many as the future of finance, and Miami is aggressively angling to become the world's crypto capital … ”
By Jonathan Levin, includes “Miami Mayor Francis Suarez took over as head of the U.S. Conference of Mayors Monday, pledging to promote innovation and proposing that cities sign on to a ‘crypto compact.’ …”
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.
Elected officials in Miami Gardens routinely accept private donations from Tootsie’s Cabaret, Calder Casino, the Miami Dolphins and other nearby businesses and city vendors without publicly disclosing any potential conflicts of interest to their constituents.
Our fourth annual report on the financial condition of the nation's 75 largest cities.
Like many politicians who leave public service, former Miami City Commissioner Marc Sarnoff is parlaying his credentials to lobby on behalf of companies seeking to do business with municipal governments in Miami-Dade.
City Hall’s growing appetite for Gotham’s business revenues is starving small operators and pushing them to Florida.
A growing list of public officials in high-tax states are expressing alarm that big earners are bolting to low-tax states as new data suggests some home buyers are moving in response to the year-old change in the federal tax law.
Teacher strikes have lit up red states over the last month as educators reach their breaking point with stagnant wages and inadequate education funding.
The papers were from a government lawsuit that represents something more than just an unwelcome birthday gift
The nonpartisan Truth in Accounting released its 2016 Financial State of the Cities Wednesday …
By Francisco Alvarado, includes "An elected official's recent inquiry into The Beacon Council, ...
By Alicia Munnell, includes “… On the other hand, five states – Illinois, New Jersey, Connecticut, Hawaii, and Kentucky – face payments in excess of 25 percent of revenue …
Editorial, includes “… Last Wednesday a federal jury found that the city of Miami defrauded bond investors by misleading them about the city’s declining financial condition.