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 Joey Garrison, includes “… Republicans have slammed the city and state relief as an unneeded bailout for liberal-controlled cities and states that mismanaged finances. This week they seized on a new J.P. Morgan study that found revenue growth in state governments declined only marginally since the pandemic hit, hardly the doomsday scenario that many forecasted last spring.”
 

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. 

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

Ohio got straight D grades across the board – statewide and its four most populous cities – for their lack of financial health, according to a recent report produced by the Chicago-based organization, Truth in Accounting (TIA).