New York City, NY

New York City and State (Released 7/17/2018)

2016 Financial State of New York City (Released 1/24/2018)

New York City's Taxpayer Burden™ is -$62,500, and it received an "F" from TIA.
New York City 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.
New York City only has $56.1 billion of assets available to pay bills totaling $235.3 billion.
Because New York City doesn't have enough money to pay its bills, it has a $179.3 billion financial hole. To erase this shortfall, each New York City taxpayer would have to send $62,500 to the city.
Thanks to an accounting rule implemented in the 2015 fiscal year, New York City must report its pension debt on its balance sheet. In 2016, the city reported a pension liability of $69 billion. However, our analysis includes an additional $664 million of pension liabilities attributable to the city's component units.
The city's financial report was released 123 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

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

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