On the Brink of Financial Collapse: 10 Cities In Serious Danger of Bankruptcy

JUNE 6, 2023 | MSN | by Ben Rice

"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."

Financial State of the States 2022

OCTOBER 24, 2022

This year's report found that 31 states did not have enough money to pay all of their bills.

New study measures financial transparency among state governments

NOVEMBER 16, 2021


Financial Transparency Score 2021

NOVEMBER 16, 2021

To encourage the publication of transparent and accurate government financial information, Truth in Accounting has created a transparency score for financial reporting by the states. 

Tax Foundation Federal deductibility is distorting tax liability in six states

NOVEMBER 1, 2021 | TAX FOUNDATION | by Jared Walczak

By Jared Walczak, includes “At the federal level, the state and local tax (SALT) deduction has emerged as a hot-button political issue ever since the deduction was capped at $10,000 under the Tax Cuts and Jobs Act (TCJA) of 2017. The SALT deduction has defenders as well as detractors, but a peculiar inversion of it—a state deduction for federal taxes paid—exists in only six states.”

Majority of state finances worsened during beginning of pandemic

SEPTEMBER 28, 2021


Financial State of the States 2021

SEPTEMBER 28, 2021

Truth in Accounting's twelfth annual Financial State of the States report, a nationwide analysis of the most recent state government financial information.

Unprecedented federal borrowing floods state budgets

JUNE 7, 2021 | THE HILL | by David Guenther

Op-ed by David Guenther, includes “… At best, the American Rescue Plan Act was unnecessary. A worse and more likely scenario is that larding hundreds of billions of federally borrowed dollars onto state governments will enable ill-conceived spending that costs taxpayers twice — once for higher federal debt payments and again for ongoing spending paid for initially with one-time funds. ”

Flush with federal cash, Oregon is likely to avoid big budget cuts

MARCH 25, 2021 | OPB | by Dirk VanderHart

By Dirk VanderHart, includes “Worries over a potential funding gap in Oregon’s next two-year budget turned into a different sort of problem on March 11. … All in all, the framework presents a far sunnier outlook than lawmakers once expected.”

Blue Mountain Eagle (Oregon)


Editorial, includes “The federal government is not taxing the stimulus payments. In Oregon, they are not taxed as income, either. But the payments can impact the federal tax calculations used on your Oregon income tax. And so the stimulus payment may mean you owe state tax on more of your income and wind up paying more taxes or get a reduced refund.”

Thirty-nine states ill-prepared for coronavirus pandemic

SEPTEMBER 22, 2020

The 2020 Financial State of the States report surveys the fiscal health of the 50 states prior to the coronavirus pandemic. This data is released today by Truth in Accounting (TIA), a think tank that analyzes government financial reporting.

City budget cuts are the right thing to do


The Ashland City Council last week discussed the city’s response to a drop in revenue as a result of the pandemic. The cuts Interim City Administrator Adam Hanks outlined are in line with what vocal critics of city spending have called for, but we’re not holding our breath waiting for any acknowledgment of that.

State general revenue shortfall projections

JUNE 1, 2020 | by Bill Bergman, Sheila Weinberg

How large could the shortfall in state government general revenues be, amidst the coronavirus and related crises? 

Oregon PERS: Treasurer offers pro-union investment policy for state pension fund

MARCH 12, 2020 | THE OREGONIAN | by Ted Sickinger

Treasurer Tobias Read is pushing an investment policy change for Oregon’s public pension fund that would promote unionization of the workforce at buildings and other facilities in which the fund has a majority ownership interest.

Secession fever spikes in five states as conservatives seek to escape blue rule

FEBRUARY 24, 2020 | THE WASHINGTON TIMES | by Valerie Richardson

You’ve got Oregonians seeking to cascade into Idaho, Virginians who identify as West Virginians, Illinoians fighting to escape Chicago, Californians dreaming of starting a 51st state, and New Yorkers who think three states are better than one.

Why are rural, low-income residents subsidizing Teslas for Oregon’s urban elite?


Programs include two rebate programs through the Oregon Department of Environmental Quality, a federal tax credit, and local utility rebates though local utility rebates generally tend to

Oregon’s public pension board stands pat on its key investment assumption

JULY 29, 2019 | THE OREGONIAN | by Ted Sickinger

The board of Oregon’s public pension system voted 3-to-2 Friday to stand pat on the system’s key funding assumption, maintaining their assumed rate of return on investments at 7.2% annually.

Oregon gov. releases plan to stabilize public pension system


Oregon Gov. Kate Brown has released her plan to improve the funding for the Oregon Public Employees Retirement System (PERS).  The state’s retirement system currently has a funded level of 80%, and rates are projected to increase until 2035.  

Can’t Oregon’s troubled pension system just file for bankruptcy?

MARCH 1, 2019 | THE OREGONIAN | by Ted Sickinger

Municipalities or municipal corporations – including school districts - are only allowed to file bankruptcy if that authority is granted under state law.

The $22 billion question: Understanding PERS

JANUARY 10, 2019 | OREGON PUBLIC BROADCASTING | by Dave Miller, Julie Sabatier

“Joe Gall is the city manager of Sherwood, a city of about 20,000 people in Washington County. Over the last four years, the amount that his city pays in PERS costs has nearly doubled. … Gall says the solution to the very real problem Sherwood and other communities are facing is not going to come at the local level. 'The solution, quite honestly, is in Salem,' he said.”

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