‘Truth in Accounting’ Annual Report Shows Most Major Texas Cities in Debt

Jesus Enriquez  |  February 14, 2022

Includes: "The report’s findings for this year showed that sixty-one of the cities analyzed are in debt, including the six most populous Texas cities: Dallas, Fort Worth, Houston, Austin, San Antonio, and El Paso." ... Catherine Cuellar, the Director of Communications, Outreach, and Marketing for the City of Dallas, said, “The City does not have cash in the bank to pay for those [capital] types of projects, so financing the project by issuing debt is a prudent alternative.” Sheila's note: The debt included in our analysis is not capital debt. Most of it is pension and retiree health care liabilities that have already been earned by the employees, but city officials have chosen to not fund, thus burdening future taxpayers.

Read the full article on: The Dallas Express

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