Chicago, IL

TIA Data

2017 Financial State of Chicago (Released 10/29/2018)

Chicago's Taxpayer Burden.™ is -$36,000, and received an "F" from TIA.
Chicago is a Sinkhole City without enough assets to cover its debt.
Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.
Chicago only has $9.5 billion of assets available to pay bills totaling $42 billion.
Because Chicago doesn't have enough money to pay its bills, it has a $32.5 billion financial hole. To erase this shortfall, each Chicago taxpayer would have to send $36,000 to the city.
Chicago's reported net position is understated by $3.1 billion, largely because the city defers recognizing gains resulting from changes in pension plan assumptions.
The city's financial report was released 180 days after its fiscal year end, which is considered timely according to the 180 day standard.

Prior Years' TIA Data

Chicago and its underlying government entities

2016 Financial State of Chicago Public Schools

2016 Financial State of Chicago

2015 Financial State of Chicago Public Schools

2015 Financial State of Chicago

2014 Financial State of Chicago Public Schools

2014 Financial State of Chicago

2012 Financial State of Cook County

Other Resources

Chicago Comprehensive Annual Financial Reports

Publishing Entity: City of Chicago Finance Department

Chicago's budget fix: Weed, gambling, COLAs, and more gambling? Nice try

DECEMBER 14, 2018 | WOLF STREET | by Wolf Richter

Chicago is trying to dodge municipal bankruptcy for as long as possible. Having gotten in trouble over borrowing too much to pay for political promises, it’s now struggling to raise new revenues to pay for those debts and promises. And since these new revenues too are insufficient, it is planning to incur more debt to deal with its debt.