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.

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. 

Raleigh takes 11th spot with a $1,400 taxpayer surplus

MARCH 26, 2020 | UNION NEWS (NORTH CAROLINA) | by Terry Davis

Truth in Accounting (TIA) released data that shows 75 most populous cities according to their finances. According to the data, Raleigh was ranked 11th on this list, with surplus funds per taxpayer estimated to be around $1,400. The data compiled a list of cities with the highest number of the population according to the city’s surplus or liability.

North Carolina cities Charlotte, Raleigh near top of finance report

FEBRUARY 10, 2020 | THE CENTER SQUARE | by Nyamekye Daniel

Two of North Carolina’s major cities are among a dozen of the nation's 75 most populous cities with a financial surplus, according to a new report. Charlotte ranked third and Raleigh ranked 11th in the Truth in Accounting's new Financial State of the Cities report released last week.

2020 Financial State of the Cities

JANUARY 28, 2020

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

State pension plans would be better off avoiding external management fees

OCTOBER 16, 2018 | NORTH CAROLINA STATE NEWS | by Jeff Diebold, Jerrell Coggburn, Matt Shipman

Recent research from North Carolina State University finds that state pension plans would be better off avoiding external asset managers when investing their plans’ assets – and would carry substantially smaller unfunded liabilities if they had simply invested in a conventional index fund.

State officials forecast trouble for some localities

JULY 30, 2018 | THE LAURINBURG EXCHANGE (NORTH CAROLINA) | by Dan Way

State Revenue Secretary Ronald Penny warns that some small municipalities in rural counties shedding residents and tax base might not survive.

Place your bets: Top 5 cities for Amazon HQ2

NOVEMBER 13, 2017

Using State Data Lab and a handful of other sources, we've picked out a list of "Top 5" cities for Amazon's second headquarters.