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ChatGPTClaudePerplexitySummary City debt · Part 5
What Amarillo owes that isn't counted as debt
Amarillo Ledger ·
A plain-language summary of records on this site. Every figure is on the linked pages, with its source.
The $538.3 million in bonds isn't everything the City of Amarillo owes. Some of the biggest obligations never show up as "debt."
The City's two pension plans for employees and firefighters had promised $930.1 million in benefits against $813.7 million in assets in the latest audited report. That leaves a $116.4 million shortfall. Three years earlier the plans had $33.4 million more than they owed.
Retiree health care adds another $40.6 million, and that plan is only 53.5% funded.
Pension numbers swing with the stock market, so one year's figure isn't a verdict. But these are real promises to real employees, and taxpayers back them. They aren't counted in the state's debt data or on the City's debt schedule, so they rarely come up when debt is discussed.
The pension and retiree health figures for five years: amarilloledger.com/debt
