Plano Finances in Good Shape

A new report on the financial condition of the 75 most populous cities ranks Plano no. 9 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 Plano has a $460 million in assets available to pay future bills. This surplus equates to $1,800 for each city taxpayer.

According to the watchdog's annual Financial State of the Cities report, Plano has $316 million in bills and $460 million in available assets to pay those bills after capital and restricted assets are excluded. This results in a $143 million surplus, or a $1,800 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 Plano hypothetically could write a check for $1,800 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 Plano's individual report here.