Charlotte ranks No. 2 in the nation for fiscal health

A new report on the financial condition of the 75 most populous cities ranks Charlotte No. 2 in the nation.

The analysis by Truth in Accounting, a non-profit government finance watchdog group, found Charlotte has a $861.8 million in assets available to pay future bills. This surplus equates to $3,400 for each city taxpayer.

According to the watchdog’s annual Financial State of the Cities report, Charlotte has $1.8 billion in bills and $2.6 billion in available assets to pay those bills after capital and restricted assets are excluded. This results in a $861.8 million surplus, or a $3,400 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, not just pension debt.

The bottom line is that Charlotte hypothetically could write a check for $3,400 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 Charlotte’s individual report here.