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 Ryan Johnston, includes “New Orleans is using data and social-media analysis to gauge how residents want the city to spend $375 million in federal stimulus funding."
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.
New York would be forced into hiking its income tax on its wealthiest earners if a federal aid package fails to materialize in Congress, Gov. Andrew Cuomo on Monday warned.
Louisiana lawmakers will have around $843 million less to spend as they begin crafting the state’s operating budget for the fiscal year beginning July 1.
Our fourth annual report on the financial condition of the nation's 75 largest cities.
The city predicts that, by the 2050s, more than a third of Lower Manhattan would be at risk from a storm surge.
According to state Supreme Court rulings and an Attorney General’s opinion, local governments are not allowed to use property taxes for expenses not approved by voters.
US cities and states face a “looming crisis” after the collective funding hole in the public pension system jumped by $434bn in just one year, raising fears of further Detroit-style bankruptcies.
With Governor John Bel Edwards plan to cut nearly $400 million from the Department of Health and Hospitals, it's predicting 20,000 fewer inspections a year, and that could directly impact customers.
Only "water gushing through manhole covers" could bring school reform to our city wrote McQueary" ...