2015 Data (Released 06/23/2016)

Financial State of Connecticut

Press Release

Connecticut owes more than it owns
At -$49,000, Connecticut's “Taxpayer's Burden” ranks 49th out of the 50 states
Connecticut is among 40 “Sinkhole States” without enough assets to cover its debt
Elected officials have created a Taxpayer Burden, which is each taxpayer's share of state bills after its assets available have been tapped
TIA's Taxpayer Burden measurement incorporates both assets and liabilities, not just pension debt
Connecticut has only $11.2 billion of assets available to pay bills totaling $73.6 billion
To fill the $62.4 billion financial hole each Connecticut taxpayer would have to send $49,000 to the state
Because of a new accounting rule, Connecticut now has to report its pension debt on its balance sheet. As a result, the state's reported pension debt grew from $2.6 billion in 2014 to $24.6 billion in 2015. However, the state is still hiding $1.8 billion of pension debt from taxpayers.
The state's financial report was released 213 days after its fiscal year end, which is considered untimely according to the 180 day goal

Prior Years' TIA Data

2014 Financial State of Connecticut

2013 Financial State of Connecticut

Other Resources

Connecticut Comprehensive Annual Financial Reports

Publishing Entity: Office of the State Comptroller

Hartford seeks fiscal solutions outside bankruptcy


“A bankruptcy filing by the city of Hartford is one of several options for potentially solving the city's fiscal woes, its mayor says, but legally declaring insolvency is at the bottom of a list of solutions the city is pursuing…”