Milwaukee, WI

TIA Data

2017 Financial State of Milwaukee (Released 1/29/2019)

 
Milwaukee's Taxpayer Burden.™ is -$8,200, and received a "D" from TIA.
Milwaukee 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.
Milwaukee only has $1.1 billion of assets available to pay bills totaling $2.8 billion.
Because Milwaukee doesn't have enough money to pay its bills, it has a $1.7 billion financial hole. To erase this shortfall, each Milwaukee taxpayer would have to send $8,200 to the city.
The city is still hiding $588.6 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 197 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2016 Financial State of Milwaukee

2015 Financial State of Milwaukee

Other Resources

Milwaukee Comprehensive Annual Financial Reports

Publishing Entity: Office of the Comptroller

IN THE NEWS
Retired Teamster asks Congress to save troubled pension funds

JULY 26, 2018 | MILWAUKEE JOURNAL-SENTINEL | by Rick Romell

A Milwaukee man who has been among leaders of a movement to secure government help for troubled pension plans urged members of Congress Wednesday to “think, pray and do what’s right” for retirees threatened with loss of much of their pensions.

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