Financial Transparency Score Report

Our new report analyzes how transparent state governments are with their finances.

Financial State of the Union

Our new Financial State of the Union report shows that the U.S. government’s financial condition worsened by $7.9 trillion in 2023.

GovFin 2024: Municipal Reporting Workshop

Join us July 29-30 for the GovFin 2024: Municipal Reporting Workshop. Christine Kuglin, Director of the TIA project at DU, will moderate a break-out session titled Government Data Reporting Standards. Seating is limited!

US Published National Debt


The Truth


Each Taxpayer's Share: $980,000

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  • Financial State of the Union 2024

    Our new Financial State of the Union report shows that the U.S. government’s financial condition worsened by $7.9 trillion in 2023. 

  • Financial State of the Cities 2024

    At the end of the fiscal year 2022, 53 cities did not have enough money to pay all of their bills.

  • Financial State of the States 2023

    Our fourteenth Financial State of the States report found debt among the states was $938.6 billion, which is down from $1.2 trillion at the end of fiscal year 2021. Overall, it appeared state debt decreased primarily due to the following two factors: tax revenue increases due to the lockdowns ending, and millions, if not billions, of dollars in federal COVID funds received by the states.

  • Data-Z (database for state and city data)

    Create your own chart with more than 700 data variables at the federal, state, and city levels.

more publications
  • Penny Pritzker‚Äôs dig at Mike Johnson

    May 22, 2024

    — GRADING CHICAGO: Truth in Accounting, an Illinois-based group that works to improve accounting standards in government, is out with its annual “Financial State of the Cities” report today. Among the findings: Chicago’s financial condition worsened more than $206 million despite increased tax collections and federal Covid relief funds.

  • AARP Illinois and financial leaders work to protect Social Security

    May 22, 2024
    Rolling Out

    AARP Illinois took a proactive step toward safeguarding the future of Social Security by hosting an panel discussion titled “Conversations with Chicago Leaders – A Discussion About Building Wealth and the Future of Social Security.” The event, held on May 9 at the CME Center/ZO Clubhouse, aimed to ignite a comprehensive dialogue among city leaders about the critical need for bipartisan solutions to ensure the long-term solvency of Social Security.

  • Dallas management gets a failing grade for finances

    May 22, 2024
    The Dallas Morning News

    During a boom time, Dallas has increased its debt and earned a failing grade. Now, the city must hire someone capable of properly managing so ...

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  • Student Loans, City Debt, & the Government's Exclusion

    April 16, 2024

    The truth about government finances through the lens of accounting, not politics. 

    Waste of the Day Report, the financial state of California, and the City of Dallas $6.9 billion in debt, and so much more.

  • Note from Sheila

    June 20, 2023

    Today's inside look focuses on the wins coming from the Truth in Accounting partnership with the University of Denver, which has opened up new opportunities and introduced our name and work to a wider audience. But these wins aren't for us. They are for you! And we can only rack up more wins with financial support. DU doesn't fund us. We fund the project. 

  • Inconsistent bank regulation spells trouble for investors

    June 13, 2023

    "The failure of Silicon Valley Bank (SVB) was not a surprise to regulators or investors who took the time to check the bank’s financial statements and footnotes. By March of 2021, unrealized debt securities losses for the bank had already begun to climb, reaching ($1,343) million by year-end December 2021, and leaping to ($15,160) million a year later, all the while the bank’s stockholders’ equity remained flat."

  • Exclusive: Pentagon accounting error overvalued Ukraine weapons aid by $3 billion

    May 27, 2023

    "WASHINGTON, May 18 (Reuters) - The Pentagon overestimated the value of the ammunition, missiles and other equipment it sent to Ukraine by around $3 billion, a Senate aide and a defense official said on Thursday, an error that may lead the way for more weapons being sent to Kyiv for its defense against Russian forces."

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