Colorado’s most populous city may perhaps be one of the “worst-run” cities in the nation, according to a recent study conducted by WalletHub.

Out of 148 of the most populated cities in the nation, WalletHub financial experts ranked Denver 141st in the “Best- & Worst-Run Cities in America (2024),” putting The Mile High City in the bottom 10. San Francisco ranked last.

And Denver’s ballooning budget could be to blame, the study indicates.

WalletHub’s used 36 “relevant” metrics, and budget per capita to determine the list.

“We constructed a ‘Quality of Services’ score made up of 36 metrics grouped into six service categories, which we then measured against the city’s per-capita budget,” WalletHub officials said in the study.

The six service categories WalletHub studied in-depth were: financial stability, infrastructure and pollution, education, health, safety and the economy.

Denver ranked 50th in financial stability, 64th in infrastructure and pollution, 104th in education, 132nd in safety, 39th in health and 80th in economy, according to the study.

Then, WalletHub calculated a “quality of city services” score based on weighted averages across all the metrics, in which Denver ranked 79th.

Financial experts then divided the quality of services score to a “total budget per capita” dollar amount, resulting in a “score per dollar spent” or “overall ranking.”

That, at the end, put Denver in the 141st spot in best-run cities.

Denver’s $1.74 billion 2024 budget, compared to its roughly 715,000 population, perhaps prompted WalletHub to rank Denver 143rd in the nation for budget-per-capita. Denver also ranked 147th in long-term debt outstanding per capita, and 142nd in air pollution.

“Local leaders must balance the public’s diverse interests with the city’s limited resources,” WalletHub officials said in the study. “Leaders must carefully consider which services are most essential, which agencies’ budgets to cut or boost, and how much to charge in local taxes, among other decisions.”

In Denver’s case, Mayor Mike Johnston has cut an average 2.5% of all department budgets due to the unprecedented influx of immigrants arriving in Colorado’s most populous city after illegally crossing America’s southern border. Denver’s immigration spending could reach $90 million by the end of the year, according to the administration.

Recently, Johnston announced the city is paying more than expected for its rampant homelessness issue. As it turned out, the city is on track to spend $155 million between July 2023 and December 2024 — $65 million more than Johnston previously said it would cost, according to a Tuesday briefing.

In a statement, WalletHub Analyst Cassandra Hoppe said: “The best-run cities in America use their budgets most effectively to provide high-quality financial security, education, health, safety and transportation to their residents.”

WalletHub named Nampa, Idaho, the best-run city.

Two other Colorado cities appeared on WalletHub’s rankings.

Aurora, Denver’s neighbor to the east, ranked 69th overall in best run cities, while Colorado Springs ranked 46th.

WalletHub is a website and app that offers a variety of financial services, experts and products to help people improve their finances.