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Cities' Fiscal Health: 2018 Report.pdf

Financial-State-of-the-Cities-2020.pdf
Preview of Cities' Fiscal Health: 2018 Report
🔗 Source: truthinaccounting.org
📊 Size: 46.7 MB
📄 Pages: 188 pages
⬇️ Downloads: 17

Summary

- Report: Financial State of the Cities (FSOC) 2020 by Truth in Accounting
- Purpose: To analyze the fiscal health of the 75 most populous U.S. cities based on FY 2018 data
- Key Findings:
- 63 cities lacked funds to pay all bills, pushing costs onto future taxpayers
- Total debt among the 75 cities: $323.2 billion, primarily unfunded retiree benefits (pensions: $176.2B, OPEB: $149.8B)
- No cities received A grades; 12 received B's, 27 C's, 32 D's, and 4 failing grades
- Methodology: TIA's analysis includes all assets and liabilities, using a sophisticated model to calculate Taxpayer Burden™ and Taxpayer Surplus™
- Transparency: New accounting standards (GASB 68, GASB 75) improved disclosure, but more work is needed
- TIA's Mission: To educate and empower citizens with understandable, reliable, and transparent government financial information

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  • File Format: PDF
  • File Size: 46.7 MB
  • Pages: 188
  • Language: EN
  • Total Downloads: 17
  • Last Updated: 1 month ago

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