Plano has been ranked fifth out of the 75 largest cities in the U.S. for its finances. According to Truth in Accounting, Plano has $2,800 in surplus funds per taxpayer.
Truth in Accounting (TIA) is a nonprofit think tank out of Chicago that promotes financial transparency in government.
Data released last month from TIA ranked the financial health of the nation’s 75 most populous cities. The nonprofit gave the Plano a “B” for its finances.
According the public data from TIA, Plano has enough city assets to cover its debt. After the city’s bills are paid, Plano $233.3 million available.
“Unlike most cities, Plano’s city government has enough resources available to pay all of its bills, including public employees’ retirement benefits,” TIA’s data reads.
Irvine, CA was listed as the No. 1 city in the U.S., according to TIA. It received a “B” grade.
The least financially healthy city, according to TIA, is New York City. Data from the organization says New York City taxpayers would need to pay $63,100 to cover the city’s bills. The city earned an “F” grade from the organization.
“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 $323 billion in municipal debt,” TIA wrote on its website.