Long Beach, CA

2016 Financial State of Long Beach (Released 1/24/2018)

Long Beach's Taxpayer Burden™ is -$1,500, and it received a "C" from TIA.
Long Beach 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.
Long Beach only has $2.7 billion of assets available to pay bills totaling $2.9 billion.
Because Long Beach doesn't have enough money to pay its bills, it has a $214.4 million financial hole. To erase this shortfall, each Long Beach taxpayer would have to send $1,500 to the city.
Unlike most city governments, Long Beach reports all of its retirement obligations on its balance sheet.
The city's financial report was released 178 days after its fiscal year end, which is considered timely according to the 180 day standard.

Prior Years' TIA Data

2015 Financial State of Long Beach

Other Resources

Long Beach Comprehensive Annual Financial Reports

Publishing Entity: Department of Financial Management