By Robert Montoya, includes “Q. Truth in Accounting found Fort Worth to be a sinkhole city, meaning it would need $9,400 more per taxpayer to pay all of its debts. They found most of the problems stem from growing unfunded retirement obligations. How would you address this issue? A. I feel like we have. … What changed was GASB came out and said that we have to put that liability on our balance sheet, and that’s what changed. So, [approximately] $2 billion went on our balance sheet. …”
Read the full article on: Texas Scorecard