New York

TIA Data

2017 Financial State of New York (Released 9/25/2018)

New York owes more than it owns.
New York has a -$21,500 Taxpayer Burden.™
New York 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.
New York only has $135 billion of assets available to pay bills totaling $277.9 billion.
Because New York doesn't have enough money to pay its bills, it has a $143 billion financial hole. To fill it, each New York taxpayer would have to send $21,500 to the state.
New York's reported net position is inflated by $11.5 billion, largely because the state defers recognizing losses incurred when the net pension liability increases.
The state is still hiding $69.7 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 154 days after its fiscal year end, which is considered timely according to the 180 day standard.

Prior Years' TIA Data

2016 Financial State of New York

2015 Financial State of New York

2014 Financial State of New York

2013 Financial State of New York

2016 Financial State of New York City

Other Resources

New York Comprehensive Annual Financial Reports

Publishing Entity: Office of State Comptroller

Hilton to disclose political spending; New York pension fund withdraws resolution

FEBRUARY 14, 2019 | PENSIONS & INVESTMENTS | by Robert Steyer

“New York State Comptroller Thomas P. DiNapoli, sole trustee of the New York State Common Retirement Fund, said Wednesday that Hilton Worldwide Holdings Inc. agreed to disclose its political spending, thus allowing the pension fund to withdraw a shareholder resolution. 'Investors have the right to know if companies are using corporate funds to influence the political process and whether they're doing so to promote the companies' best interests,' Mr. DiNapoli said in a news release.”