A new report on the financial condition of the 75 most populous cities ranks San Jose no. 55 in the nation for fiscal health. The report is based on the cities' 2018 comprehensive annual financial reports, which are not analyzed on this scale by any other organization.

The analysis by Truth in Accounting (TIA), a nonprofit government finance watchdog group, found San Jose needs $3.2 billion to get out of the red, or $9,400.00 from each of its taxpayers.

According to the watchdog's annual Financial State of the Cities report, San Jose has $4.7 billion in bills and only $1.5 billion in available assets to pay those bills after capital and restricted assets are excluded. This results in a $3.2 billion shortfall, or a $9,400.00 Taxpayer Burden™, which is each taxpayer's share of the municipal debt after the city's available assets have been tapped.