City of Houston, TX

The $650 million settlement will fund back pay for firefighters, who will also get future wage hikes.

The Houston City Council was unable to vote on initial financing for a $2.55 billion terminal renovation project at George Bush Intercontinental Airport without certification by the city controller.

The upcoming fiscal 2025 budget will take "some first steps" to address a structural gap of about $158 million, Melissa Dubowski said.

Mayor John Whitmire expressed confidence in Melissa Dubowski's ability to guide the city through its financial challenges.

Office sectors in some Southwest cities, including Houston, are stressed due to elevated vacancy rates that may lower assessed values and property tax revenue.

Fitch Ratings said the trajectory of the city's AA rating could depend on how Mayor John Whitmire, who took office this week, resolves the years-long impasse over firefighter pay.

The nation's fourth-largest city will have new officials at the helm of its government and finances for the first time in eight years.

City Controller Chris Brown called for more due diligence on financing plans for a $2.6 billion project to renovate Bush Intercontinental Airport's Terminal B.

Triple-A yields rose one to five basis points, depending on the scale, as secondary trading showed cheaper prints and some new-issues had to be cheapened to clear the market while USTs saw larger losses of up to 16 basis points on the three and five year.

State lawmakers passed bills aimed at the city's home-rule powers and a union contract impasse, as well as funding for a convention center expansion.

Houston is one of the largest U.S. cities to set up a trust to help fund non-pension retiree benefits such as healthcare.

Massive transit projects have funding momentum, and traditional road and bridge projects are advancing as well despite political opposition and some shaky funding.

The school district's AA-plus rating is supported by strong reserves and Houston's economic strength, S&P Global Ratings analysts said.

The Texas Education Agency, which initially sought the takeover in 2019, will appoint managers to run the state's largest public school system.

The rating agency raised the system's subordinate-lien general airport revenue bond rating to A-plus from A with a stable outlook amid increased enplanements.

Houston has built up a $344.8 million general fund balance and reduced its unfunded pension liability to about $1.5 billion ahead of a possible economic slump.

A three-judge panel reversed a district court's ruling in favor of the city's Firefighters' Relief and Retirement Fund that the law was unconstitutional.

The honorees of the past are making a big impact in the present.

A reported preliminary 25.8% drop in May issuance shows how strong fund inflows, improving credit and the reopening of governments are keeping the muni market issuer friendly.

Cameron Mock, chief of staff and senior fiscal advisor to the deputy governor of Illinois, Melissa Dubowski, deputy finance director of the city of Houston and John Markowitz, assistant treasurer of Transurban, join Innovation Editor Lynne Funk to discuss their day-to-day work navigating COVID-19 effects, budget stresses and the future of public finance post-pandemic. (25 minutes).