Orlando only has $1.1 billion of assets available to pay bills totaling $1.6 billion.
Because Orlando doesn't have enough money to pay its bills, it has a $457.4 million financial hole. To erase this shortfall, each Orlando taxpayer would have to send $5,300 to the city.
The city is still hiding all 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 174 days after its fiscal year end, which is considered timely according to the 180 day standard.