{"id":132067,"date":"2026-02-13T02:48:08","date_gmt":"2026-02-13T02:48:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/132067\/"},"modified":"2026-02-13T02:48:08","modified_gmt":"2026-02-13T02:48:08","slug":"new-york-city-receives-failing-grade-for-fiscal-health","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/132067\/","title":{"rendered":"New York City Receives Failing Grade for Fiscal Health"},"content":{"rendered":"<p>According to Truth in Accounting\u2019s <a href=\"https:\/\/www.truthinaccounting.org\/news\/detail\/financial-state-of-the-cities-2026\" target=\"_blank\" rel=\"nofollow noopener\">Financial State of the Cities 2026<\/a> report, New York City did not have enough money at the end of fiscal year 2024 to pay all its bills. The report shows a shortfall that equals a Taxpayer Burden\u2122 of about $61,700 per taxpayer.<\/p>\n<p>The analysis notes that while the city pays actuarially determined pension contributions, it has accumulated extensive unfunded retiree health benefit obligations, which contribute heavily to total long-term liabilities exceeding available assets. New York City earned a grade of \u201cF,\u201d indicating the city is far from meeting its balanced budget requirements and remains in serious financial trouble. <\/p>\n<p>This report delivers a straightforward review of the five largest U.S. cities\u2019 assets and debts, including often-overlooked retirement liabilities, to give taxpayers a clearer view of fiscal realities. To promote accountability, budgets must incorporate contributions to retirement systems, ensuring officials fully recognize and fund these commitments.<\/p>\n","protected":false},"excerpt":{"rendered":"According to Truth in Accounting\u2019s Financial State of the Cities 2026 report, New York City did not have&hellip;\n","protected":false},"author":2,"featured_media":132068,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[9,24,55,54,56],"class_list":{"0":"post-132067","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york-city","8":"tag-new-york","9":"tag-new-york-city","10":"tag-new-york-city-headlines","11":"tag-new-york-city-news","12":"tag-ny"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/132067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=132067"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/132067\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/132068"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=132067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=132067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=132067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}