Columbus, OH

TIA Data

2017 Financial State of Columbus (Released 1/29/2019)

 
Columbus' Taxpayer Burden.™ is -$5,500, and received a "D" from TIA.
Columbus 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 all assets and liabilities, including retirement obligations.
Columbus only has $2 billion of assets available to pay bills totaling $3.7 billion.
Because Columbus doesn't have enough money to pay its bills, it has a $1.7 billion financial hole. To erase this shortfall, each Columbus taxpayer would have to send $5,500 to the city.
The city is hiding all of its retiree health care debt. A new accounting standard will be implemented in the 2018 fiscal year which will require governments to report this debt on the balance sheet.
The city's financial report was released 88 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2016 Financial State of Columbus

2015 Financial State of Columbus

Other Resources

Columbus Comprehensive Annual Financial Reports

Publishing Entity: City Auditor

IN THE NEWS
Ohio becomes first state to accept bitcoin for tax payments

NOVEMBER 26, 2018 | THE CINCINNATI ENQUIRER | by Jessie Balmert

COLUMBUS - Ohio businesses now can pay their taxes with check, money order and ... bitcoin. On Monday, Ohio became the first state in the nation to accept the cryptocurrency, bitcoin, for 23 different business taxes ranging from sales tax to severance taxes on oil and gas. 

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