Corpus Christi, TX

2016 Financial State of Corpus Christi (Released 1/24/2018)

Corpus Christi's Taxpayer Burden™ is -$1,200, and it received a "C" from TIA.
Corpus Christi is a Sinkhole City without enough assets to cover its debt.
Decisions by elected officials have led to a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.
TIA's Taxpayer Burden™ measurement accounts for all assets and liabilities, including pension and retiree healthcare debt.
Corpus Christi only has $786.2 million of assets available to pay bills totaling $901 million.
Because Corpus Christi doesn't have enough money to pay its bills, it has a $114.8 million financial hole. To erase this shortfall, each Corpus Christi taxpayer would have to send $1,200 to the city.
Unlike most city governments, Corpus Christi reports all of its retirement obligations on its balance sheet.
The city's financial report was released 206 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Other Resources

Corpus Christi Comprehensive Annual Financial Reports

Publishing Entity: City of Corpus Christi

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