On January 29, Truth in Accounting released its third Financial State of the Cities report, a comprehensive analysis of the fiscal health of the nation’s 75 most populous cities based on fiscal year 2017 comprehensive annual financial reports.
This year, the study found that 63 cities do not have enough money to pay all of their bills, and in total, the cities have racked up nearly $330 billion in unfunded municipal debt. The study ranks the cities according to their Taxpayer Burden or Taxpayer Surplus™, which is each taxpayer’s share of city bills after available assets have been tapped. Check out the data for your city at the State Data Lab.
Download the new report here.
January 28, 2019