California is late on its own financial health report for the 6th straight year
California — a state whose officials love to tout it as the world’s fifth largest economy — is late producing a report on its own financial health for the sixth year in a row.
READ MOREPhilly Fails to Make Top 20 Best Cities List; Fitch Gives A+ Rating
However, Philadelphia also ranked near the bottom, 72 out of 75, for cities ranked for how well they’re run by Truth in Accounting.
That organization found the city needs $11.2 billion to pay bills and has a taxpayer burden of $20,400 per taxpayer. Meaning if all bills were to be paid in one year, that’s how much each taxpayer would owe. Truth in Accounting gave Philadelphia a grade of “F.”
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