Excerpt:
Nashville recently was named a “Bottom 5 Sinkhole City” by the nonpartisan think tank Truth in Accounting (TIA) in its fifth annual Financial State of the Cities report.
TIA examined the fiscal health of the 75 most-populous U.S. cities and graded and ranked the cities accordingly. The 2021 report is based on fiscal year 2019 comprehensive annual financial reports.
“At the end of the fiscal year 2019, 62 cities did not have enough money to pay all their bills,” the report’s executive summary read. “This means that to balance the budget, elected officials did not include the true costs of the government in their budget calculations and have pushed costs onto future taxpayers.”
Author(s): The Center Square
Publication Date: 13 February 2021
Publication Site: Johnson City Press