Corpus Christi, TX

TIA Data

2017 Financial State of Corpus Christi (Released 1/29/2019)

 
Corpus Christi's Taxpayer Burden.™ is -$1,100, and received a "C" from TIA.
Corpus Christi 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.
Corpus Christi only has $698 million of assets available to pay bills totaling $799.6 million.
Because Corpus Christi doesn't have enough money to pay its bills, it has a $101.6 million financial hole. To erase this shortfall, each Corpus Christi taxpayer would have to send $1,100 to the city.
Corpus Christi's reported net position is overstated by $80.9 million, largely because the city delays recognizing losses incurred when the net pension liability increases.
The city's financial report was released 181 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2016 Financial State of Corpus Christi

Other Resources

Corpus Christi Comprehensive Annual Financial Reports

Publishing Entity: Financial Services

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