2015 Data (Released 06/06/2016)

Financial State of Michigan

Financial State of Battle Creek

Financial State of Detroit

Financial State of Flint

Financial State of Grand Rapids

Financial State of Holland

Financial State of Jackson

Financial State of Kalamazoo

Financial State of Lansing

Financial State of Midland

Financial State of Saginaw

Michigan owes more than it owns
At -$18,200, Michigan's “Taxpayer's Burden” ranks 41st out of the 50 states
Michigan 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
Michigan has only $25.5 billion of assets available to pay bills totaling $81 billion
To fill the $55.5 billion financial hole each Michigan taxpayer would have to send $18,200 to the state
Because of a new accounting rule, Michigan now has to report its pension debt on its balance sheet. As a result, the state's reported pension debt grew from $742.2 million in 2014 to $6.2 billion in 2015. However, the state is still hiding $25.1 billion of pension debt from taxpayers.
The state's financial report was released 92 days after its fiscal year end, which is considered timely according to the 180 day goal

Prior Years' TIA Data

2014 Financial State of Michigan

2013 Financial State of Michigan

Other Resources

Michigan Comprehensive Annual Financial Reports

Publishing Entity: State Budget Office