Minneapolis, MN

TIA Data

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

 
Minneapolis' Taxpayer Burden.™ is -$2,100, and received a "C" from TIA.
Minneapolis 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.
Minneapolis only has $926.8 million of assets available to pay bills totaling $1.3 billion.
Because Minneapolis doesn't have enough money to pay its bills, it has a $325.7 million financial hole. To erase this shortfall, each Minneapolis taxpayer would have to send $2,100 to the city.
Minneapolis's reported net position is overstated by $8.2 million, largely because the city delays recognizing losses incurred when the net pension liability increases.
The city's financial report was released 190 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2016 Financial State of Minneapolis

2015 Financial State of Minneapolis

Other Resources

Minneapolis Comprehensive Annual Financial Reports

Publishing Entity: Finance and Property Services

IN THE NEWS
Report: Twin Cities receive C grades for fiscal health

FEBRUARY 19, 2019 | MINNESOTA WATCHDOG | by Bethany Blankley

“… In order to appear to balance budgets, TIA notes, elected officials 'have not included the true costs of the government in their budget calculations and have pushed costs onto future taxpayers.' … No cities received an 'A' grade. Twelve cities received a 'B;' 24, including the Twin Cities, received a 'C;' 31 a 'D;' and eight failed.”

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