District of Columbia

2015 Data (Released 01/11/2017)

Financial State of Washington, D.C.

Press Release

Washington, D.C. owes more than it owns.
At -$2,800, Washington, D.C.'s Taxpayer Burden™ ranks 13th out of the 50 most populated cities.
Washington, D.C. 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.
Washington, D.C. has only $4.9 billion of assets available to pay bills totaling $5.6 billion.
To fill the $705.2 million financial hole each Washington, D.C. taxpayer would have to send $2,800 to the city.
Because of a new accounting rule, Washington, D.C. now has to report its pension debt on its balance sheet. Prior to this rule, the majority of pension debt was left off the balance sheet. In 2015, the city’s reported pension debt was $201.6 million.
The city's financial report was released 119 days after its fiscal year end, which is considered timely according to the 180 day goal.

Other Resources

Washington, D.C. Comprehensive Annual Financial Reports

Publishing Entity: Office of the Chief Financial Officer