This paper evaluates the payment capacity of Fortaleza, as well its indebtedness capacity from 1998 to 2007. This article also tries to evaluate the financial strengthening programs and the tax collection efficiency. In order to do so, the authors have developed quantitative and qualitative analysis using secondary data from the Fortaleza Secretary of Finance and the National Secretary of Treasury. The main conclusion indicates that income transferences from the State of Ceará and from the Brazilian Government still dominate the composition the Fortaleza municipal finances. However, in recent years, Fortaleza municipal government has managed to enhance its own revenue collection, hence reinforcing municipal budget.