Saint Paul, MN

TIA Data

2017 Financial State of Saint Paul (Released 1/29/2019)

 
Saint Paul's Taxpayer Burden.™ is -$2,900, and received a "C" from TIA.
Saint Paul 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.
Saint Paul only has $546.7 million of assets available to pay bills totaling $881 million.
Because Saint Paul doesn't have enough money to pay its bills, it has a $334.3 million financial hole. To erase this shortfall, each Saint Paul taxpayer would have to send $2,900 to the city.
The city is still hiding $165.7 million 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 179 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2016 Financial State of Saint Paul

Other Resources

Saint Paul Comprehensive Annual Financial Reports

Publishing Entity: Financial 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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