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 Jana Hayes, includes “The city continues to break sales tax records with the July sales tax check coming in at $45.1 million.  … Oklahoma City Budget Director Doug Dowler attributed the healthy revenue to more folks back at work, federal stimulus money and inflation. … ‘Our local economy continues to roar!’ …”

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. 

Debt is a very common aspect of life in the U.S. If you own a house, you might be paying off a loan you used to buy it, and it could be years before you’ve finished doing so. Cities do this too for large public projects, except their debt frequently takes shape as municipal bonds.

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