Truth in Accounting
Connecticut

TIA Data

2017 Financial State of Connecticut (Released 9/25/2018)

 
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's reported net position is inflated by $11 billion, largely because the state defers recognizing losses incurred when the net pension liability increases.
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

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
On budget, Dems say GOP prefers heckling to haggling

MAY 28, 2019 | THE CONNECTICUT MIRROR | by Keith Phaneuf

“… The GOP suggested in 2009 and in 2010 that $800 million in controversial borrowing could be avoided by selling Bradley International and Hartford-Brainard airports. Nonpartisan analysts could not confirm a projected sales price. The GOP based the idea upon a then-proposed sale of Chicago’s Midway International Airport that hadn’t been completed — and eventually was abandoned.”

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