Chicago

2015 Data (Released 11/16/2016)

Financial State of Chicago

Press Release

 
Chicago owes more than it owns
At -$44,000, Chicago's Taxpayer Burden™ ranks 49th out of the 50 most populated cities
Chicago is among 43 “Sinkhole Cities” without enough assets to cover its debt
Elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its assets available have been tapped
TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt
Chicago has only $7.6 billion of assets available to pay bills totaling $45.8 billion
To fill the $38.3 billion financial hole each Chicago taxpayer would have to send $44,000 to the city
Because of a new accounting rule, Chicago now has to report its pension debt on its balance sheet. As a result, the city's reported pension debt grew from $8.6 billion in 2014 to $33.8 billion in 2015.
The city's financial report was released 182 days after its fiscal year end, which is considered untimely according to the 180 day goal
 

Prior Years' TIA Data

2014 Financial State of Chicago

2014 Financial State of Chicago Public Schools

2012 Financial State of Cook County

Other Resources

Chicago Comprehensive Annual Financial Reports

Publishing Entity: Department of Finance

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