New York

2015 Data (Released 12/08/2015)

Financial State of New York

Financial State of New York City

New York owes more than it owns
At -$20,100, New York's “Taxpayer's Burden” ranks 43rd out of the 50 states
New York 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
New York has only $129.8 billion of assets available to pay bills totaling $256.6 billion
To fill the $126.9 billion financial hole each New York taxpayer would have to send $20,100 to the state
Because of a new accounting rule, New York now has to report its pension debt on its balance sheet. As a result, the state's reported pension debt grew from $2.7 billion in 2014 to $2.8 billion in 2015. However, the state is still hiding $6.5 billion of pension debt from taxpayers.
The state's financial report was released 154 days after its fiscal year end, which is considered timely according to the 180 day goal

Prior Years' TIA Data

2014 Financial State of New York

2013 Financial State of New York

Other Resources

New York Comprehensive Annual Financial Reports

Publishing Entity: Office of State Comptroller