Truth in Accounting
Connecticut

TIA Data

2018 Financial State of Connecticut (Released 9/24/2019)

Use Create Your Own State Chart to see additional financial, demographic and economic data for this and other states

 
Connecticut owes more than it owns.
Connecticut's Taxpayer Burden™ is -$51,800, and it received an "F" from TIA.
Connecticut is a Sinkhole State without enough assets to cover its debt.
Elected officials have created a Taxpayer Burden™, which is each taxpayer's share of state bills after its available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.
Connecticut only has $14.4 billion of assets available to pay bills totaling $82.1 billion.
Because Connecticut doesn't have enough money to pay its bills, it has a $67.8 billion financial hole. To fill it, each Connecticut taxpayer would have to send $51,800 to the state.
Connecticut's reported net position is inflated by $8.2 billion, largely because the state defers recognizing losses incurred when the net pension liability increases.
The state's financial report was released 199 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2017 Financial State of Connecticut

2016 Financial State of Connecticut

2015 Financial State of Connecticut

2014 Financial State of Connecticut

2013 Financial State of Connecticut

2012 Financial State of Connecticut

2011 Financial State of Connecticut

2010 Financial State of Connecticut

2009 Financial State of Connecticut

City and Other Municipal Reports

2015 Financial State of Bridgeport

2012 Financial State of Bridgeport

2011 Financial State of Bridgeport

Other Resources

Connecticut Comprehensive Annual Financial Reports

Publishing Entity: Office of the State Comptroller

IN THE NEWS
Connecticut retiree health care severely underfunded

SEPTEMBER 20, 2019 | CONNECTICUT PATCH

In fiscal year (FY) 2018, the most recent fiscal year, state and local governments that use Generally Accepted Accounting Principles were required to report their unfunded liabilities related to other post-employment benefits (OPEB). OPEB comprises mainly retiree health care benefits. State and local governments have long hid retirement benefit obligations, including pensions and OPEB, off their balance sheets.

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