TIA Data

2017 Financial State of Connecticut (Released 5/15/2018)

Connecticut owes more than it owns.
Connecticut has a -$53,400 Taxpayer Burden.™
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 $12.1 billion of assets available to pay bills totaling $81.9 billion.
Because Connecticut doesn't have enough money to pay its bills, it has a $69.8 billion financial hole. To fill it, each Connecticut taxpayer would have to send $53,400 to the state.
Connecticut has delayed the recognition of changes in its pension liability. As a result of this and other deferrals, the state's overall net position is inflated by $11 billion.
Despite reporting all of its pension debt, the state is still hiding $10.4 billion of its retiree health care debt. A new accounting standard will be implemented in the 2018 fiscal year which will require states to report this debt on the balance sheet.
The state's financial report was released 182 days after its fiscal year end, which is considered untimely according to the 180 day standard.

Prior Years' TIA Data

2016 Financial State of Connecticut

2015 Financial State of Connecticut

2014 Financial State of Connecticut

2013 Financial State of Connecticut

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

Connecticut public college system needs more state money

AUGUST 14, 2018 | THE DAY (CONNECTICUT) | by Keith Phaneuf

"Faced with mandated pay hikes and surging pension costs, Connecticut’s public college and university system may need an 11 percent increase in state funding over the next two years to maintain current programs, according to a preliminary analysis from system administrators."