Fort Wayne, IN

TIA Data

2017 Financial State of Fort Wayne (Released 1/29/2019)

 
Fort Wayne's Taxpayer Burden.™ is -$1,400, and received a "C" from TIA.
Fort Wayne 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.
Fort Wayne only has $510.3 million of assets available to pay bills totaling $620.7 million.
Because Fort Wayne doesn't have enough money to pay its bills, it has a $110.4 million financial hole. To erase this shortfall, each Fort Wayne taxpayer would have to send $1,400 to the city.
The city is still hiding $88.5 million 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 165 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2016 Financial State of Fort Wayne

Other Resources

Fort Wayne Comprehensive Annual Financial Reports

Publishing Entity: City of Fort Wayne

IN THE NEWS
Does the city have a debt problem? The answer is in the eye of the beholder

APRIL 9, 2019 | FT. WAYNE NEWS-SENTINEL | by Kevin Leininger

“… But you can bet future commercials will target one vulnerability Smith insists is shared by both his May primary opponent and the incumbent Democrat he hopes to defeat in November: The city’s debts. … It’s all a matter of perspective — and, of course, politics — because both positions appear to be factually correct.”

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