Report: Eight of Texas’ largest cities are in poor financial health

MARCH 23, 2021 | THE CENTER SQUARE – TEXAS | by Bethany Blankley

By Bethany Blankley, includes “Eight of Texas’ largest cities are in the red, and one – Plano – ranks ninth-best for its financial health, according to a recent study. In its fifth annual Financial State of the Cities report, the Chicago-based nonprofit Truth in Accounting analyzed fiscal year 2019 annual financial reports of the 75 largest cities in the U.S.”

8 of Texas’ major cities found to be financial ‘sinkholes’

MARCH 9, 2021 | TEXAS SCORECARD | by Robert Montoya

By Robert Montoya, includes “… Truth in Accounting found all 75 cities have balanced budget requirements, but that doesn’t necessarily mean they have balanced budgets… It goes on to list ‘accounting tricks’ used to give the appearance a budget is balanced, such as ‘inflating revenue assumptions, counting borrowed money as income, understating the true costs of government, and delaying the payment of current bills until the start of the next fiscal year so they aren’t included in the calculations.’ …”

State budget outlook not as dire as expected, comptroller says

DECEMBER 1, 2020 | THE FACTS (TEXAS) | by Mitchell Ferman

Despite “historic declines,” state lawmakers will have more money to work with in the upcoming legislative session than Comptroller Glenn Hegar expected over the summer, he said Monday. But Hegar did not outline specifics as state coffers continue to suffer from the economic recession spurred by the coronavirus pandemic.

Political corruption is real … and it is our fault

OCTOBER 15, 2020 | TEXAS SCORECARD | by Michael Sullivan

When public corruption by government officials is alleged, everyone typically rushes to partisan corners in defense of their allies and to chastise opponents.

Local government debt

SEPTEMBER 25, 2020 | TEXAS PUBLIC POLICY FOUNDATION

In fiscal year 2019, the principal amount owed by cities, counties, school districts, and special districts totaled $240 billion. That’s enough government debt to send a $8,220 bill to every man, woman, and child in Texas or saddle a family of four with $32,880.

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.

Texas comptroller reports San Marcos city debt at over $314 million

SEPTEMBER 14, 2020 | CORRIDOR NEWS (TEXAS) | by David LeDoux

San Marcos’ total debt equals $4,994 for every man, woman, and child who lives in San Marcos as of August 2018 and not one resident spoke at the first public hearing for the upcoming budget.

Why Texas is in trouble

JULY 29, 2020 | FORBES | by Adam Andrzejewski

Everything is bigger in Texas—including the supersized salaries of its city managers, school superintendents, state staffers, and other public servants.

Texas in a state of financial uncertainty

JULY 24, 2020 | THE TEXAS TRIBUNE | by Ross Ramsey

It will be a miracle if Texas Comptroller Glenn Hegar and his team of financial prognosticators are right about the arc of the state’s economy over the next few months.

Is the Texas Covid ‘spike’ fake news?

JULY 7, 2020 | RON PAUL INSTITUTE | by Ron Paul

On July 2nd, Texas Governor Greg Abbott issued an executive order mandating the wearing of face masks across the state, whether indoors or outdoors, when six feet cannot be maintained between people. In the governor’s decree, he cited a rise in Covid cases, a rise in test positivity, and a rise in hospitalizations as justification to force people to cover their faces in public.

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? 

As America divides, Florida and Texas head one way, California and New York go the opposite direction

MAY 29, 2020 | CITIZENS JOURNAL (CALIFORNIA) | by Mark Tapscott

In her long and futile search for why she lost the 2016 election, former Democratic presidential nominee Hillary Clinton did manage to find some solace in the areas she carried against President Donald Trump.

State agencies ordered to submit 5% budget cut plans

MAY 21, 2020 | AUSTIN AMERICAN-STATESMAN (TEXAS) | by Asher Price

Gov. Greg Abbott on Wednesday ordered Texas state agencies, public universities and other top officials to come up with ways to cut their budgets by 5% in the current biennium.

'All of the party was over’ – How the last oil bust changed Texas

MAY 18, 2020 | THE TEXAS TRIBUNE

When Kathy Whitmire ran for Houston mayor in 1981, helicopters were among the top sources of municipal strife. Residents of the Memorial neighborhood were irate over the daily noise of west Houston businesspeople who opted to fly over the gridlocked freeways for their morning commutes.

Illinois’ shameless, dishonest ask for a federal bailout

APRIL 24, 2020 | CHICAGO TRIBUNE

It is not surprising an Illinois politician finally put in writing what economists and financial watchdogs have been warning for years: That elected officials who failed to take seriously decades of fiscal warning bells in this state eventually would seek a bailout from the federal government.

A fast drop for the Texas economy – and for the state budget

APRIL 8, 2020 | THE TEXAS TRIBUNE | by Ross Ramsey

Early in every economic crisis, the people in charge turn to their financial folks to ask whether things are as bad as they seem. Answering a question like that is tricky business. 

In Dallas politics, telling the pigs from the socialists

FEBRUARY 27, 2020 | DALLAS OBSERVER | by Jim Schutze

Are you a socialist if you don’t want families to get blown up in gas well explosions? Is it socialism to try to get your city to live within its means?

Plano, Arlington Texas among most fiscally sound cities in US; Houston, Fort Worth among worst

FEBRUARY 3, 2020 | TYLER MORNING TELEGRAPH (TEXAS) | by Bethany Blankley

Plano, Texas, ranks fifth-best in the 4th annual "Financial State of the Cities” report published by the nonprofit financial watchdog Truth in Accounting (TIA).

Texas voters say no to income tax

NOVEMBER 6, 2019 | THE DALLAS MORNING NEWS | by Maria Mendez

Texans, who already don’t pay a statewide income tax, voted Tuesday to make it even more difficult for state leaders to ever impose the tax on them in the future.

Texas slips lower in annual report monitoring state finances

OCTOBER 15, 2019 | THE TEXAS MONITOR | by Johnny Kampis

A national watchdog group says that the State of Texas’ finances are continuing to deteriorate, as shown by recent statistics on relative debt burden among U.S. states.

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