Raleigh Ranks No. 11 for Financial Health

A new report on the financial condition of the 75 most populous cities ranks Raleigh no. 11 in the nation. The report is based on the cities’ 2017 comprehensive annual financial reports, the most recent data available.

The analysis by Truth in Accounting, a non-profit government finance watchdog group, found Raleigh has a $948 million in assets available to pay future bills. This surplus equates to $600 for each city taxpayer.

According to the watchdog's annual Financial State of the Cities report, Raleigh has $868 million in bills and $948 million in available assets to pay those bills after capital and restricted assets are excluded. This results in a $80 million surplus, or a $600 Taxpayer Surplus™, which is each taxpayer's share of the municipal surplus after its available assets have been tapped. TIA's Taxpayer Surplus indicator incorporates both assets and liabilities, including pension debt.

The bottom line is that Raleigh hypothetically could write a check for $600 to each of its taxpayers after paying all of its bills, which is why it received a "B" grade for its fiscal health.

You can read the full report here and Raleigh's individual report here.