Fresno Ranks No. 5 for its Financial Condition

A new report on the financial condition of the 75 most populous cities ranks Fresno no. 5 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 Fresno has a $726 million in assets available to pay future bills. This surplus equates to $2,500 for each city taxpayer.

According to the watchdog's annual Financial State of the Cities report, Fresno has $307 million in bills and $726 million in available assets to pay those bills after capital and restricted assets are excluded. This results in a $419 million surplus, or a $2,500 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 Fresno hypothetically could write a check for $2,500 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 Fresno's individual report here.