El Paso, TX

2016 Financial State of El Paso (Released 1/24/2018)

El Paso's Taxpayer Burden™ is -$4,400, and it received a "C" from TIA.
El Paso 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.
El Paso only has $724.9 million of assets available to pay bills totaling $1.6 billion.
Because El Paso doesn't have enough money to pay its bills, it has a $870.6 million financial hole. To erase this shortfall, each El Paso taxpayer would have to send $4,400 to the city.
Thanks to an accounting rule implemented in the 2015 fiscal year, El Paso must report its pension debt on its balance sheet. However, the city still excludes $52.6 million of retirement obligations, which consist partially of retiree healthcare liabilities. The majority of the hidden debt actually comes from promised pension benefits that haven’t been recognized yet because the financial report was prepared using outdated figures.
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

2015 Financial State of El Paso

Other Resources

El Paso Comprehensive Annual Financial Reports

Publishing Entity: Office of the Comptroller