Failing Grade? Maybe or maybe not?

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According to Nigel Jaquiss, Portland was recently ranked 71st out of the largest 75 cities in America for its financial health by a national watchdog group.

Questions:

  1. What is the name of the watchdog group?
  2. What does the failing grade stem from?
  3. What do city officials offer in defense of their denial of the group’s ranking?
  4. Explain the bond ratings, the rating agency, and the bonds’ relationship to the city’s pension plan.
  5. What are unfunded actuarial liabilities?

Source:

Jaquiss, N. (2022). City Officials Dispute Failing Financial Grade From Accounting Watchdog. The Willamette Weekly, Feb. 13 (Retrievable online at https://www.wweek.com/news/2022/02/13/city-officials-dispute-failing-financial-grade-from-accounting-watchdog/)