TIA Data

2016 Financial State of Connecticut (Released 4/17/2017)

Connecticut owes more than it owns
Connecticut's Taxpayer Burden™ is -$49,500, and received an "F" from TIA
Connecticut is a Sinkhole State 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 available assets have been tapped
TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt
Connecticut only has $11.3 billion of assets available to pay bills totaling $74.9 billion
Because Connecticut doesn't have enough money to pay its bills, it has a $63.6 billion financial hole. To fill it, each Connecticut taxpayer would have to send $49,500 to the state
Because of an accounting rule implemented last year, Connecticut has to report its pension debt on its balance sheet. This year, the state's reported pension debt grew from $24.6 billion in 2015 to $27.7 billion in 2016.
Despite reporting most of its pension debt, the state is still hiding retiree health care debt. Connecticut's total hidden debt amounts to $11.9 billion. A new accounting standard will be implemented in two years, and will require states to report this debt on the balance sheet.
The state's financial report was released 183 days after its fiscal year end, which is considered untimely according to the 180 day standard

Prior Years' TIA Data

2015 Financial State of Connecticut

2015 Financial State of Bridgeport

2014 Financial State of Connecticut

2013 Financial State of Connecticut

2012 Financial State of Bridgeport

2011 Financial State of Bridgeport

Other Resources

Connecticut Comprehensive Annual Financial Reports

Publishing Entity: Office of the State Comptroller

Progressively Bankrupt

MAY 26, 2017 | RICOCHET

A recent story in the Wall Street Journal foretells a grim financial future for Connecticut, the wealthiest state in the union by per capita income.