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Financial State of the Cities 2021

JANUARY 26, 2021

**To read the full report, please click here to download the PDF**

Truth in Accounting has released its fifth annual Financial State of the Cities report. This comprehensive analysis surveys the fiscal health of the 75 most populated US cities prior to the coronavirus pandemic. The report found that 62 cities did not have enough money to pay all of their bills. Most of the cities were ill-prepared for any crisis, much less one as serious as what we are currently facing. Total debt among the 75 cities amounted to $333.5 billion at the end of the fiscal year 2019, which will only worsen as the cities face varying and unpredictable effects from the global pandemic.

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Local Government Units in States

For 2022 the U.S. Census Bureau reported the number of local governments in all the states.  As to be expected the smallest states had the fewest local governments.  However, the states with the most local government units were not necessarily the largest. 

Bachelor's Degree Median Income in Cities

For students graduating soon, it might be worth looking at the median income for people with a bachelor's degree only in different cities.  For information about median earnings for men and women by education in the 75 largest cities check out our interactive database at Data.Z.org

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Our proprietary methodology analyzes government financial reports to develop a comprehensive, concise view of state and municipal finances, including all assets as well as pension and retirement health obligations not completely disclosed in financial reports. Learn how we can help you discover the truth about your government's fiscal condition.

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Download our comprehensive reports on state and municipal finances–including "The Financial State of the States"–for free. Former U.S. Comptroller General David Walker has said, "While other organizations have compared the states' unfunded retirement liabilities, only this report has determined the overall financial condition of every state."

CLICK HERE TO DOWNLOAD OUR LATEST FSOS REPORT (SEPTEMBER 2021)