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

IN THE NEWS
Comptroller Stringer releases fiscal year 2018 Comprehensive Annual Financial Report

NOVEMBER 5, 2018 | NEW YORK CITY COMPTROLLER SCOTT M. STRINGER

(New York, NY) — Today, New York City Comptroller Scott M. Stringer released the City’s Comprehensive Annual Financial Report (CAFR) for Fiscal Year 2018, which includes the City’s audited financial statements for the year, outlines important economic and financial data about New York City, and highlights the work of the Comptroller’s Office during the fiscal year. 

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