Wichita Finances in Good Shape

A new report on the financial condition of the 75 most populous cities ranks Wichita no. 10 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 Wichita has a $448 million in assets available to pay future bills. This surplus equates to $800 for each city taxpayer.

According to the watchdog's annual Financial State of the Cities report, Wichita has $342 million in bills and $448 million in available assets to pay those bills after capital and restricted assets are excluded. This results in a $106 million surplus, or a $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 Wichita hypothetically could write a check for $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 Wichita's individual report here.