Detroit, MI

TIA Data

2018 Financial State of Detroit (Released 1/24/2020)

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Detroit's Taxpayer Burden™ is -$5,100, and it received a "D" from TIA.
Detroit 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.
Detroit only has $2.7 billion of assets available to pay bills totaling $3.9 billion.
Because Detroit doesn't have enough money to pay its bills, it has a $1.1 billion financial hole. To erase this shortfall, each Detroit taxpayer would have to send $5,100 to the city.
Detroit's reported net position is inflated by $150.2 million, largely because the city defers recognizing losses incurred when retirement liabilities increase.
The city's financial report was released 167 days after its fiscal year end, which is considered timely according to the 180 day standard.

Prior Years' TIA Data

2017 Financial State of Detroit

2016 Financial State of Detroit

2015 Financial State of Detroit

2013 Financial State of Detroit

Other Resources

Detroit Comprehensive Annual Financial Reports

Publishing Entity: Office of the Chief Financial Officer

Are public pensions doomed because of the coronavirus pandemic?

JUNE 4, 2020 | USA TODAY | by Nathan Bomey

Corey Shelton, an eighth grade science teacher in Jackson, Michigan, has earned a pension after more than 20 years on the job, but now he’s concerned that the economic devastation from the coronavirus pandemic will threaten the monthly checks he’s been counting on to fund his retirement.