New York

TIA Data

2017 Financial State of New York (Released 4/16/2018)

2016 Financial State of New York City (Released 1/24/2018)

 
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 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 $11.5 billion.
Despite reporting all of its pension debt, 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

Other Resources

New York Comprehensive Annual Financial Reports

Publishing Entity: Office of State Comptroller

IN THE NEWS
VIEW LESS