Tampa’s Financial Health Strengthens, Earning a “B” Grade

Tampa’s financial condition improved in fiscal year 2023, earning the city a “B” grade from Truth in Accounting. With a $505.5 million surplus, Tampa remains classified as a “Sunshine City,” meaning it has more than enough money to cover its financial obligations. This equates to a Taxpayer Surplus™ of $3,400.

The city's financial improvement was largely due to a rebound in pension investments. After experiencing significant losses in 2022, Tampa’s Firefighters and Police Officers’ Pension Trust Fund recovered from a 15.6% loss to a 17.1% gain, helping to stabilize the city’s unfunded pension liability.
Additionally, property tax revenues rose by $40.3 million, driven by continued economic growth in the Tampa Bay Area. These factors contributed to a stronger financial outlook, though strategic planning will still be necessary to balance future pension obligations, infrastructure investments, and essential public services.
Key findings from the report include:

• Tampa had $1.5 billion available to pay $1 billion in bills.
• The city’s financial surplus amounted to $505.5 million, equating to a $3,400 Taxpayer Surplus™.
• Pension investment recovery and rising property tax revenues improved the city's fiscal stability.

With a strong economic base, Tampa is well-positioned for future financial planning, though maintaining long-term fiscal health will require continued management of pension obligations and infrastructure funding.
For those interested in a deeper dive into Tampa’s finances—and how it compares to other major U.S. cities—you can read the full Financial State of the Cities 2025 report here.