Connecticut

2015 Data (Released 06/23/2016)

Financial State of Connecticut

Press Release

 
Connecticut owes more than it owns
Connecticut has a -$45,900 “Taxpayer Burden”
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 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 $69.6 billion
To fill the $58.4 billion financial hole each Connecticut taxpayer would have to send $45,900 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 $26.2 billion in 2015.
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

IN THE NEWS
Hartford seeks fiscal solutions outside bankruptcy

JULY 19, 2016 | HARTFORD BUSINESS.COM (CONNECTICUT)

“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…”

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