Tulsa’s Financial Stability Declines, Earning a “B” Grade

Tulsa’s financial condition worsened in fiscal year 2023, but the city maintained a $30.1 million surplus. This equates to a Taxpayer Surplus™ of $200, earning Tulsa a “B” grade and keeping its classification as a “Sunshine City” in Truth in Accounting’s latest report.

The city's financial decline was largely driven by a significant increase in Tulsa’s share of the Oklahoma Firefighters Pension System, reflecting rising pension costs. Market fluctuations and actuarial adjustments further contributed to growing liabilities, putting financial pressure on the city’s long-term stability.
Public safety expenses increased to $274.4 million, marking a $58.8 million (27.3%) rise due to higher salaries and pensions. While maintaining a well-funded public safety system is essential, these rising costs highlight the need for sustainable fiscal planning to ensure continued financial stability while funding critical services.
Key findings from the report include:

• Tulsa had $1.344 billion available to pay $1.314 billion in bills.
• The city’s financial surplus amounted to $30.1 million, equating to a $200 Taxpayer Surplus™.
• Rising pension costs and increasing public safety expenses added financial pressure.

While Tulsa remains in a relatively strong financial position, managing growing pension liabilities and rising costs will be key to ensuring long-term fiscal stability.
For those interested in a deeper dive into Tulsa’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.