Portland, OR

2016 Financial State of Portland (Released 1/24/2018)

Portland's Taxpayer Burden™ is -$21,400, and it received an "F" from TIA.
Portland 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.
Portland only has $1 billion of assets available to pay bills totaling $5.5 billion.
Because Portland doesn't have enough money to pay its bills, it has a $4.4 billion financial hole. To erase this shortfall, each Portland taxpayer would have to send $21,400 to the city.
Thanks to an accounting rule implemented in the 2015 fiscal year, Portland must report its pension debt on its balance sheet. However, the city still excludes $399.6 million of retirement obligations, which consist partially of retiree healthcare liabilities. The majority of the hidden debt actually comes from promised pension benefits that haven’t been recognized yet because the financial report was prepared using outdated figures.
The city's financial report was released 138 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2015 Financial State of Portland

Other Resources

Portland Comprehensive Annual Financial Reports

Publishing Entity: Office of Management & Finance

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