El Paso Named a “Sinkhole City” in Texas! 
Public servants use accounting tricks and outdated information to hide the true state of city finances. 
A recent report from Truth in Accounting has named El Paso as one of five “sinkhole cities” in Texas, highlighting serious financial challenges facing our community. 
Here are some key points:
– El Paso’s financial health is part of a troubling trend where many Texas cities are buried in debt, with a total of $37.45 billion across the state.
– The report reveals that El Paso’s outdated accounting practices could be hiding the true extent of its financial struggles. This includes using old data to report pension liabilities, making it hard for residents to grasp the city’s financial condition. 
– Unfunded pensions and other post-employment benefits are significant issues, contributing to the overall debt and placing a heavier tax burden on citizens. For example, Texas cities collectively owe $192.1 billion in unfunded pensions! 
– The report urges local officials to adopt more transparent and accurate budgeting methods to avoid misleading the public about the city’s finances.
As El Pasoans, we need to be aware of these issues. How do you feel about the city’s financial management? What steps do you think we can take to push for better accountability and transparency in local government? Let’s share our thoughts! 
