New York City, NY

TIA Data

2017 Financial State of New York City (Released 1/29/2019)

 
New York City's Taxpayer Burden.™ is -$64,100, and received an "F" from TIA.
New York City 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.
New York City only has $58.5 billion of assets available to pay bills totaling $244 billion.
Because New York City doesn't have enough money to pay its bills, it has a $185.5 billion financial hole. To erase this shortfall, each New York City taxpayer would have to send $64,100 to the city.
New York City's reported net position is understated by $10.3 billion, largely because the city delays recognizing gains resulting from changes in OPEB plan assumptions.
The city's financial report was released 122 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

New York City and State

2016 Financial State of New York City

2015 Financial State of New York City

2014 Financial State of New York City

Other Resources

New York City Comprehensive Annual Financial Reports

Publishing Entity: Office of the New York City Comptroller

IN THE NEWS
Manhattan DA spent $250K in asset forfeiture funds on fine dining and luxurious travel

APRIL 4, 2019 | REASON | by C.J. Ciaramella

“Manhattan District Attorney Cy Vance spent nearly $250,000 over the past five years from a state asset forfeiture fund on fine dining, first-class airfare, and luxurious hotels, according to public records obtained by The City, a nonprofit news outlet in New York City. … Civil asset forfeiture laws allow police and prosecutors to seize property—cash, cars, and even houses—suspected of being connected to criminal activity. Much of that money is often funneled back into police department and district attorney offices' budgets.”

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