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We support a strong America full of strong cities, towns, and neighborhoods. ... My grandfather, when he was alive, used to give me warnings about debt. He told me to not use credit cards, to avoid paying interest, and to never take on debt for depreciating assets.
In his eyes, it was better to have no debt on a small house than a large mortgage on a big house. He lived a frugal life with my grandmother, raising six kids and a couple dozen grandkids in our small town in Central Minnesota.The only way you get competent maintenance of core infrastructure is if we can take on debt in this way. Without it, what is in decline will only get worse. Do you support a nice city or not? What is noticeably absent to anyone with Strong Towns sensibilities is any notion of financial analysis.He spreads the Strong Towns message through in-person presentations, the Strong Towns Podcast, and his books and articles. In recognition of his efforts and impact, Planetizen named him one of the 15 Most Influential Urbanists of all time in 2017 and 2023. Marohn, Top StoryCharles MarohnJuly 3, 2023finance, sales tax, property tax, oklahoma, debt, maintenance, taxes, transparent local accounting, municipal financeFor local governments, it’s often easier to let the tangled web of debt at the heart of the budget go unexplored. In cities reliant on sales tax, these problems are only magnified.
The City has several revenue streams that support the development of facilities and infrastructure. These funding sources are used to retire debt, as described below. Property taxes are used for roadway and sidewalk projects, and also were used to pay Southlake’s portion of Town Hall.
The Tax Increment Reinvestment Zone was created to develop Town Square and other taxing jurisdictions helped pay for the Square’s public improvements in the zone. Five other entities have helped pay the debt on Town Hall, parks, streets, water lines, sewer lines, sidewalks, and drainage improvements.Property taxes were “captured” from property owners in the specific geographic area of the zone and then used to pay off debt incurred for the previously mentioned projects. The zone encompasses Town Square and a few other locations.This page contains a variety of information on the City’s use of borrowed money for the construction of capital projects, how this debt is repaid and the guidelines that are used to properly manage the use of debt.The City of Southlake is committed to managing its finances responsibly and transparently. This page contains a variety of information on the City’s use of borrowed money for the construction of capital projects, how this debt is repaid, and the guidelines that are used to properly manage the use of debt.
Lander in 2024 voiced support for a $12 billion expansion of New York City's debt limit to fund existing city services like community colleges and the police department, alongside an expansionary capital program in the face of issues such as the climate crisis.
The financial challenges within cities appear to be mounting despite high municipal credit ratings and robust demand for urban commodities like housing. For example, New York City had a total public debt of $177.6 billion at the end of fiscal year 2022, according to researchers at Truth in Accounting, a nonprofit that partners with the University of Denver to promote transparency in public accounting.That translates into a per capita taxpayer burden of $61,200, according to the group's analysis. That estimate comes in higher than the one quoted by New York City Comptroller Brad Lander, who says the Big Apple has a public debt burden of roughly $96 billion in 2024 — about $30 billion shy of the city's debt limit.Lander in 2024 voiced support for a $12 billion expansion of New York City's debt limit to fund existing city services like community colleges and the police department, alongside an expansionary capital program in the face of issues such as the climate crisis.The discrepancy, according to Truth in Accounting, comes from pension debt obligations that are underreported and will eventually be pushed on to future taxpayers.
Several years ago I found on the Internet a funny parable about the debt cycle. Lately, I stumbled upon it again and decided to share this humorous tale.
Several years ago I found on the Internet a funny parable about the debt cycle. Lately, I stumbled upon it again and decided to share this humorous tale. · There are many versions differ in the name of the place where this tale and somewhat a riddle is taking place. The original author is still unknown. ... It's a slow and hot day in the little town somewhere in the middle of nowhere.He stops at the only hotel in town and lays a $100 bill on the desk, telling the hotel owner he wants to inspect the rooms upstairs in order to pick one to spend the night. The owner gives him some keys, and as soon as the visitor has walked upstairs, the hotelier grabs $100 and runs next door to pay his debt to the butcher.Times are tough, everybody in town is in debt, and everybody lives on credit.No one earned anything. However, the whole town is out of debt and looks to the future with a lot of optimism.
Debt City is a retro sandbox life sim. After things go horribly wrong on an island vacation, you find yourself indebted to one of the most powerful and notorious crime bosses in the seedy Debt City. Given just 10 days to pay off your debt of $10,000, you'll be given the choice: how do you attempt ...
Debt City is a retro sandbox life sim. After things go horribly wrong on an island vacation, you find yourself indebted to one of the most powerful and notorious crime bosses in the seedy Debt City. Given just 10 days to pay off your debt of $10,000, you'll be given the choice: how do you attempt to repay that debt?Will you stay on the straight and narrow and work different jobs to make a living? How about stocking shelves at a convenience store? Or maybe you can be a school janitor? But if that line of work isn't exciting enough.. You can enter the criminal underworld of Debt City.Take assassination contracts to make citizens disappear, no questions asked. Craft and sell specialty (and highly illegal) substances on the black-market. Or maybe you'll become the monster hunter the city needs after a crazed doctor's failed invention goes haywire. But the best part of Debt City?Debt City is all about freedom. With a limited story and a sandbox world to explore, you are able to live your virtual life. Well, at least for 10 days. Each day in Debt City consists of a limited number of actions you can take. Go over those actions, and you will find yourself passing out and ending up in the hospital.
“It's a wonderful rural town, just a wonderful place,” said Shawn Daly, a resident who expressed disbelief at the situation. "To tell you the truth, it's like a bad dream.” · Cle Elum Mayor Matthew Lundh told KOMO News the city declared Chapter 9 bankruptcy this week, citing insolvency. “We felt like we had to take this step in order to, you know, stop the clock," Lundh explained. ALSO SEE | Cle Elum files for bankruptcy over $26M debt ...
“It's a wonderful rural town, just a wonderful place,” said Shawn Daly, a resident who expressed disbelief at the situation. "To tell you the truth, it's like a bad dream.” · Cle Elum Mayor Matthew Lundh told KOMO News the city declared Chapter 9 bankruptcy this week, citing insolvency. “We felt like we had to take this step in order to, you know, stop the clock," Lundh explained. ALSO SEE | Cle Elum files for bankruptcy over $26M debt to developer over delayed housing projectCLE ELUM, Wash. — The city of Cle Elum has declared bankruptcy, leaving the small Kittitas County town grappling with uncertainty about its future.The town, named by the Kittitas Tribe after the nearby "swift water," now finds itself financially underwater.
The financial struggles have seen local authorities resort to 'essentially payday loans' through the sale of schools, care homes and sports clubs, one expert said.
The debt mountain of local councils across the UK has grown to an eye-watering £122billion - equivalent to £1,700 per person, a study has revealed.Those with the highest debts were twice as likely to have been among the highest sellers, the analysis showed.Dr Jonathan Carr-West, chief executive of the Local Government Information Unit (LGIU), said 'public value' would continue to be eroded until Westminster came up with a long-term solution to council debt.The BBC study of Government data found that Woking's debt pile, at more than £2billion, was equivalent to more than £20,000 per person.
We’re going to need a bigger ballot. Telluride Town Council approved two more questions to put before voters in the upcoming November election, having already approved a ballot question setting
The newest question would raise Telluride’s maximum debt for affordable housing without raising taxes. (Photo by Michael Mowery/Telluride Daily Planet) ... We’re going to need a bigger ballot. Telluride Town Council approved two more questions to put before voters in the upcoming November election, having already approved a ballot question setting an attendance standard at council meetings for the mayor and council members.Council gave final unanimous approval to a 5% excise tax on ski lift tickets to offset Telski’s withdrawn commitment to gondola expenses, and approved, with one dissenting vote, an increase of $64.05 million in the town’s debt limit to enable the town to borrow more money for “various affordable housing purposes,” as Town Manager Zoe Dohnal explained.Kim Crawford, a representative of the town’s bond counsel, Butler Snow, explained that the town currently has a maximum debt authorization of $18 million for housing purposes, approved by voters in 2018 and 2019.Given the fact that the town has untapped revenue to address housing needs, the ballot measure seeks to increase Telluride’s debt capacity to make full use of the funds already being collected without the need to raise taxes further.
But the commuter town in Surrey is hiding a financial crisis - so deep that its council is £2 billion under and has the highest levels of debt per person in Britain.
As of April, Woking's £2.16 billion black hole is equivalent to more than £20,000 debt per person, double that of the next highest council. Locals told the Daily Mail they feel like 'the authorities don't have your back and you're just left to fend for yourself', as they pointed out the rising homelessness and shop closures in the town centre.By comparison, the nationwide average council debt is £1,688. Local charities are saying they now have to fill the gaps left by the council. New Life Church Community Food Bank in Woking is one such charity that offers support to people in the town that need it.Woking's debt has continued to rise over the past year, as a BBC investigation also showed that Surrey County Council had the largest overall growth in the amount of its debt in the space of one financial year · Mia Pries, 16, who had just got a job in Woking town centre, noted a youth crime problem and drug issue beneath the peaceful home counties suburbia.James explained that the impact of the council's debt was 'substantially slower progress' in the town centre than residents had been promised.
Debt to the Penny is the total debt of the U.S. government and is reported daily. It is made up of intragovernmental holdings and debt held by the public.
The Debt to the Penny dataset provides information about the total outstanding public debt and is reported each day. Debt to the Penny is made up of intragovernmental holdings and debt held by the public, including securities issued by the U.S.Treasury. Total public debt outstanding is composed of Treasury Bills, Notes, Bonds, Treasury Inflation-Protected Securities (TIPS), Floating Rate Notes (FRNs), and Federal Financing Bank (FFB) securities, as well as Domestic Series, Foreign Series, State and Local Government Series (SLGS), U.S.There are six datasets on Fiscal Data which include the national debt, which is referred to as Total Public Debt Outstanding (TPDO). TPDO is the sum of Debt Held by the Public and Intragovernmental (Intragov) Holdings. Some datasets include debt issued by the Federal Financing Bank (FFB).Daily Treasury Statement (DTS) contains Debt Held by the Public and Intragov Holdings, but does not aggregate these two categories into TPDO. In this dataset, Intragov Holdings includes debt issued by the FFB. Dollar values for Debt Held by the Public and Intragov Holdings are rounded in millions to cohere with other data in the dataset.
New York City, the District of Columbia, Chicago, Atlanta, Yonkers and Austin have the most per capita liabilities.
Reason Foundation finds that New York City had over $300 billion in liabilities at the end of 2022, more than four times Chicago's $73.9 billion in liabilities and nearly six times Los Angeles' $51 billion.In 2022, governments representing the 100 most populous municipalities across America owed $251.2 billion in employee-related debt, including $126.4 billion in net public pension liabilities and $124.8 billion in net other post-employment benefit liabilities, such as medical benefits promised to retirees.Ten municipalities—New York, Chicago, Austin, Phoenix, Houston, Portland, Boston, San Jose, Fort Worth, and San Diego—account for 80.1% of the total employee-related debt among the 100 most populous municipalities.In 2022, New York and Chicago were responsible for 67.3% of the total employee debt held by the country’s 100 largest municipalities.
ABOUT THE GAME Debt City is a retro sandbox life sim. After things go horribly wrong on an island vacation, you find yourself indebted to one of the most powerful and notorious crime bosses in the seedy Debt City. Given just 10 days to pay off your debt of $10,000, you'll be given the choice: ...
Welcome to Debt City. 10 Days to Pay. Unlimited Ways to Play. A slice of life RPG. Will you turn to a life of crime, or play as a normal citizen? The choice is yours. No ads, no in-app purchases, and can be played entirely offline. Plus gamepad and external keyboard support.ABOUT THE GAME Debt City is a retro sandbox life sim. After things go horribly wrong on an island vacation, you find yourself indebted to one of the most powerful and notorious crime bosses in the seedy Debt City. Given just 10 days to pay off your debt of $10,000, you'll be given the choice: how do you attempt to repay that debt?Will you stay on the straight and narrow and work different jobs to make a living? How about stocking shelves at a convenience store? But if that line of work isn't exciting enough.. You can enter the criminal underworld of Debt City. Take assassination contracts to make citizens disappear, no questions asked.Craft and sell specialty (and highly illegal) substances on the black-market. Or maybe you'll become the monster hunter the city needs after a crazed doctor's failed invention goes haywire. Debt City is all about freedom. With a limited story and a sandbox world to explore, you are able to live your virtual life.
Brighton and Hove City Council has debts totalling £420 million, according to government figures.
Brighton and Hove City Council has debts totalling £420 million, according to government figures, but one local politician said this was on the low side compared with many other local authorities.Compared with its “statistical neighbours” – other similar English unitary councils identified by the Chartered Institute of Public Finance and Accountancy (CIPFA) – Brighton and Hove ranked nine out of 16 for debt levels.Out of 381 councils in the UK, Brighton and Hove is broadly in the middle on several measures including debt per person, the BBC’s Shared Data Unit found.Cllr Taylor, the council’s cabinet member for finance, said Brighton and Hove was a low-debt council, especially compared with similar councils.
The debt-plagued town in Upstate South Carolina is on top of bills from the past two months, but still has hundreds of thousands of dollars left to pay.
Calhoun Falls’ Ellison Community Center is among the property used as collateral for a high-interest loan the town took out. ... Matthew Hensley is Upstate editor for Post and Courier Greenville/Post and Courier Spartanburg. To support local journalism, sign up for a subscription. See our current offers » ... A firetruck sits in the driveway at the Calhoun Falls Fire Department on June 10. The truck and building are both collateral for a $400,000 high-interest loan. Matthew Hensley/Staff ... CALHOUN FALLS — A debt-plagued town that's operating without a budget and is hundreds of thousands of dollars behind on water payments did something that would be unremarkable for most municipalities.But another problem highlighted in the audit report — shoddy bookkeeping — has made it a struggle for McElrath and others who are grappling with the debt. McElrath said some things, like a mystery payment to a Myrtle Beach resort on a town credit card, she can't discuss because of the ongoing State Law Enforcement Division investigation to determine whether there was wrongdoing in how officials used public dollars.Calhoun Falls’ Ellison Community Center is among the property used as collateral for a high-interest loan the town took out. Matthew Hensley/Staff · There's still a lot of ground to cover, however, like getting up to date on its payments to the city of Abbeville, which provides the water Calhoun Falls distributes to its residents and nearby McCormick County. According to legal filings, that debt stood at $506,497.58 as of May 1.And the town still has to pay off a $400,000, high-interest loan from First Government Lease Co., which has been accused of predatory lending practices. Collateral on that loan includes Town Hall, the community center, fire station, even the newest fire truck. The officials The Post and Courier spoke to about that debt weren't able to say how those funds were used.
For nearly a century the fortunes of this tiny town were tied to the oil fields that surrounded it and the people who worked them.
Now on the eve of Maricopa's 100th anniversary the county grand jury is calling for its dismantling, describing a place in political chaos: A city council clueless about its rights and responsibilities; an acting police chief hiring a tow company to impound vehicles of unlicensed drivers, then recruiting volunteer officers to write the necessary tickets, mostly to Latinos; a city mired in debt, borrowing tow company money to make payroll, unable to pay for even its county fire service. "I care about this place very deeply, but I don't know how we're going to handle this," said Council Member S. Cynthia Tonkin, 75, who said she ran to reclaim her seat on the board last fall after a 15-year absence because police tactics were giving the town a bad reputation."There's still some debt, but we're working on paying that down," she said. Over 30 years she has seen the town that once was home to the world's biggest gusher decline from a place "full of shops and banks" to this.In this photo taken June 13, 2011, a sign is seen outside of the Shell gas station in Maricopa, Calif. Its own county grand jury has recommended that this tiny San Joaquin Valley community be dissolved because It's too poor to be a town anymore.When interim Chief Derek Merritt took over 18 months ago, the squad went from a two-man force that didn't work nights to one with 25 volunteers — all writing tickets and impounding vehicles on the highway to the coast that skirts the town.
Over half of the debt is at just three clubs, namely Everton £1.0 bln (new stadium and squad investment), Tottenham £851m (new stadium) and Manchester United £547m (the lingering effects of the Glazers’ leveraged buyout). In addition, four other clubs owe more than £300m (Arsenal £342m, Liverpool £314m, Chelsea £303m and Brighton £300m). On the other hand, Luton Town ...
Over half of the debt is at just three clubs, namely Everton £1.0 bln (new stadium and squad investment), Tottenham £851m (new stadium) and Manchester United £547m (the lingering effects of the Glazers’ leveraged buyout). In addition, four other clubs owe more than £300m (Arsenal £342m, Liverpool £314m, Chelsea £303m and Brighton £300m). On the other hand, Luton Town and West Ham were essentially debt-free.Of course, there are many reasons why a football club would take on debt, including investment in infrastructure, spending to improve the squad, covering operating losses and even as a pre-cursor to investors taking a stake in the club.At the narrowest extreme, we have just bank debt, but the broadest extreme covers total liabilities, which includes all financial obligations, including transfer debt, staff payables, tax liabilities, trade creditors, provisions, accrued expenses and even deferred income.The net debt reported in an English club’s financial statement is in line with IFRS (International Financial Reporting Standards) and essentially covers purely financial obligations, such as overdrafts, bank loans, bonds, shareholder loans and finance leases less cash.
Experts say that debt is not inherently bad for councils and borrowing has “largely worked”, at a time when authorities are grappling with escalating demand and rising costs for social care and special educational needs and disabilities services. However, there have long been serious worries about a financial crisis that pushed 30 councils to need emergency financial support from the Government and some town ...
Experts say that debt is not inherently bad for councils and borrowing has “largely worked”, at a time when authorities are grappling with escalating demand and rising costs for social care and special educational needs and disabilities services. However, there have long been serious worries about a financial crisis that pushed 30 councils to need emergency financial support from the Government and some town halls racking up “unsustainable” levels of borrowing.He added: “Borrowing is used to fund major capital schemes like improvements to our infrastructure and facilities that many of our residents use day in day out, such as the Word and our fantastic leisure facilities in each town. In the latest accounts our fixed assets were valued at £1,353m. It is also worth noting that our independent external auditors have considered that our debt levels are not considered unusual for the council’s size and operations.”The amount owed to lenders by the seven local authorities in Northumberland, Tyne and Wear and County Durham jumped by almost £200 million in the 12 months to April 2025Councils like Nottingham, Woking and Croydon have had to issue section 114 notices, effectively a declaration of bankruptcy, linked to failed investments and spiralling debts over recent years. Among the councils who make up the North East’s ‘LA7’, South Tyneside has by far the highest debt per person at £4,947.
Zouping’s troubles show how companies in China guarantee one another’s loans, representing a potential hazard within China’s vast financial system.
The town has an urban population of about 110,000 residents — a figure that does not include migrants lured by the prospect of jobs. ... A farmer piled wheat after a harvest in Zouping in 2013. China’s debt load has expanded at double the rate as the overall economy since 2008.Credit...China Daily/ReutersA version of this article appears in print on , Section B, Page 1 of the New York edition with the headline: A Chinese Town’s Crisis Raises Worries of Hidden Debt Bombs.A nearly decade-long Chinese lending spree drove growth but burdened the economy with one of the world’s heaviest debt loads, equal to $21,600 worth of bank loans, bonds and other obligations for every man, woman and child in the country.China, the world’s second-largest economy after the United States, has considerable firepower to address any financial crisis. But many economists worry that hidden debt bombs could expose the breadth and severity of the problem.
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