Seattle, WA

TIA Data

2017 Financial State of Seattle (Released 1/29/2019)

 
Seattle's Taxpayer Burden.™ is -$4,900, and received a "C" from TIA.
Seattle 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.
Seattle only has $2.6 billion of assets available to pay bills totaling $3.9 billion.
Because Seattle doesn't have enough money to pay its bills, it has a $1.3 billion financial hole. To erase this shortfall, each Seattle taxpayer would have to send $4,900 to the city.
The city is hiding $531.1 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 273 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2016 Financial State of Seattle

2015 Financial State of Seattle

Other Resources

Seattle Comprehensive Annual Financial Reports

Publishing Entity: Department of Finance and Administrative Services

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