Tulsa, OK

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

Tulsa's Taxpayer Burden™ is -$1,000, and it received a "C" from TIA.
Tulsa 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.
Tulsa only has $846.2 million of assets available to pay bills totaling $960.5 million.
Because Tulsa doesn't have enough money to pay its bills, it has a $114.3 million financial hole. To erase this shortfall, each Tulsa taxpayer would have to send $1,000 to the city.
Thanks to an accounting rule implemented in the 2015 fiscal year, Tulsa must report its pension debt on its balance sheet. However, the city still excludes $44.3 million of retirement obligations, which consist entirely of promised pension benefits that haven’t been recognized yet because the financial report was prepared using outdated figures.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 160 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2015 Financial State of Tulsa

Other Resources

Tulsa Comprehensive Annual Financial Reports

Publishing Entity: Finance Department

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