Truth in Accounting

Austin, TX

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TIA Data

2023 Financial State of Austin (Released 02/27/2024)

Use Create Your Own City Chart to see additional financial, demographic and economic data for this and other cities

 
Austin owes more than it owns.
Austin has a -$11,700 Taxpayer Burden.™
Austin is a Sinkhole City without enough assets to cover its debt.
Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations.
Austin only has $5.9 billion of assets available to pay bills totaling $9.8 billion.
Because Austin doesn't have enough money to pay its bills, it has a -$3.9 billion financial hole. To erase this shortfall, each Austin taxpayer would have to send -$11,700 to the city.
Austin's reported net position is inflated by $433.9 million, largely because the city defers recognizing losses incurred when retirement liabilities increase.
The city's financial report was released 164 days after its fiscal year end, which is considered timely according to the 180 day standard.

Prior Years' TIA Data

2022 Financial State of Austin

2021 Financial State of Austin

2020 Financial State of Austin

2019 Financial State of Austin

2018 Financial State of Austin

2017 Financial State of Austin

2016 Financial State of Austin

2015 Financial State of Austin

 

Other Resources

Austin Annual Comprehensive Financial Reports

Publishing Entity: City Controller's Office

SNAPSHOT BY THE NUMBERS
  • Austin's Bills Exceed Its Assets
  • Assets * $21,756
  • Less: Capital Assets * $13,987
  • Restricted Assets * $1,884
  • Assets Available to Pay Bills * $5,885
  • Less: Bills * $9,802
  • Money Available (Needed) to Pay Bills * ($3,917)
  • Each Taxpayer's Surplus (Burden) ($11,700)
  • The Bills Austin has Accumulated
  • State Bonds * $7,966
  • Other Liabilities * $2,352
  • Less: Debt Related to Capital Assets * $7,830
  • Unfunded Pension Benefits * $3,960
  • Unfunded Retirees' Health Care Benefits * $3,355
  • Bills * $9,802
  • * figures in millions
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