(WBAP/KLIF) — Fort Worth city leaders fall into the bottom third of nationwide cities in balancing a budget.
Fort Worth received a “D” grade from a financial watch-dog group for failure to balance Cowtown’s budget. Truth in Accountings Sheila Weinberg says the main issue centers on the city not adequately funding their pension and retiree health care fund. The watch-dog group surveys the 75 best and worst municipalities across the nation in balancing their budgets, and Weinberg says Fort Worth ranks in the bottom 20.
The city had a taxpayer burden of $7,400 per taxpayer and ranked 56th out of 75 nationwide cities. Weinberg does note that Fort Worth has improved since 2016, when it had a taxpayer burden of over $13,000. Most of the deficit comes from the city only budgeting 50-cents for every dollar promised to pension-holders and only 11-cents on the dollar for retiree health care benefits. Weinberg indicates the debt is being pushed onto future generations.
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