Financial State of the Cities 2024

FEBRUARY 15, 2024

At the end of the fiscal year 2022, 53 cities did not have enough money to pay all of their bills.

Financial State of the Cities 2023

FEBRUARY 7, 2023

This year's report highlights the volatility and risk surrounding pension plan assets and corresponding pension liabilities.

Financial State of the Cities 2022

JANUARY 25, 2022

Truth in Accounting has released its sixth annual Financial State of the Cities report.

PRESS RELEASE: Majority of U.S. cities finances worsened during beginning of COVID-19 pandemic

JANUARY 24, 2022

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.

Omaha and Lincoln’s growing challenge in pension funding

MARCH 23, 2021 | PLATTE INSTITUTE (NEBRASKA) | by Zachary Christensen, Jordan Campbell

By Zachary Christensen and Jordan Campbell (Reason Foundation), includes “Public pension debts from three major municipal plans in Nebraska are approaching $1 billion, and an analysis of Omaha’s two municipal systems and Lincoln’s public safety plan suggest that this shortfall is likely to continue to expand unless policymakers make meaningful changes to how the city funds and manages the retirement plans.”

Majority of U.S. cities ill-prepared for COVID-19 pandemic

JANUARY 26, 2021

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.

Financial State of the Cities 2021

JANUARY 26, 2021

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. 

OPS leaders want state to run pension system; trustees, retiree groups opposed

SEPTEMBER 22, 2020 | OMAHA WORLD-HERALD | by Henry Cordes

OPS Superintendent Cheryl Logan said it’s time for the district to get out of the business of running a pension system.

2020 Financial State of the Cities

JANUARY 28, 2020

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

OPS’s $771 million pension shortfall a product of ‘mind-boggling’ mistakes

JANUARY 15, 2019 | OMAHA WORLD HERALD (NEBRASKA) | by Henry Cordes

“… But the problems in the Omaha School Employees’ Retirement System — known among district retirees as OSERS — go well beyond bad decisions by unsophisticated trustees. In an occasional series that begins today, The World-Herald will reveal an up-to-now untold story featuring bad investment decisions, questionable practices, cozy relationships, lack of oversight and a massive case of fraud.”

Senators reject $300 million in bonds to shore up ailing OPS pension fund

APRIL 5, 2018 | OMAHA WORLD HERALD | by Henry Cordes

The Nebraska Legislature on Wednesday rejected authorizing the Omaha Public Schools to issue $300 million in bonds to shore up its badly underfunded pension fund.

OPS seeks $300 million in bonds to shore up pension plan, shield classrooms from cuts

APRIL 4, 2018 | OMAHA WORLD-HERALD | by Henry Cordes

A badly underfunded pension system has blown a sizable hole in the Omaha Public Schools budget, forcing the district to divert tens of millions annually to shore up its retirement fund.

Lawmaker should hold debate on proposed OPS pension bond concept

APRIL 4, 2018 | OMAHA WORLD-HERALD | by Editorial Staff

Deepening pension obligations have begun to take a painful bite out of the Omaha Public Schools budget, posing a potential threat to classroom funding. 

At hearing, OPS officials seek to ability to issue bonds to fund pension plan

FEBRUARY 15, 2018 | OMAHA WORLD-HERALD | by Martha Stoddard

Omaha Public Schools officials say the district could come out better financially — and make the pension plan healthier — by issuing between $219 million and $252 million worth of bonds.

New pension bill draws protests from firefighter and police unions in Nebraska

FEBRUARY 10, 2017 | FINANCIAL BUZZ

Includes "The firefighters and police unions in Omaha and Lincoln, the two largest cities in Nebraska took to the streets on Tuesday to protest the planned implementation of a bill which if passed proposes to overhaul the traditional pension plan and replace it with a cash-balance retirement plan.  ..."