Long Beach, CA

TIA Data

2019 Financial State of Long Beach (Released 1/26/2021)

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Long Beach's Taxpayer Burden™ is -$100, and it received a "C" from TIA.
Long Beach 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.
Long Beach only has $2.9 billion of assets available to pay bills totaling $2.9 billion.
Because Long Beach doesn't have enough money to pay its bills, it has a $20.2 million financial hole. To erase this shortfall, each Long Beach taxpayer would have to send $100 to the city.
Long Beach's reported net position is understated by $500.7 million, largely because the city defers recognizing gains resulting from decreases in retirement liabilities.
The city's financial report was released 182 days after its fiscal year end, which is considered untimely according to the 180 day standard.

Prior Years' TIA Data

2018 Financial State of Long Beach

2017 Financial State of Long Beach

2016 Financial State of Long Beach

2015 Financial State of Long Beach

Other Resources

Long Beach Comprehensive Annual Financial Reports

Publishing Entity: Department of Financial Management

Report: Most big cities were in bad fiscal shape before the pandemic. Expect it to get worse


By Teri Sforza, includes “It’s a bit like hiding credit card bills under the mattress and declaring that everything’s fine: Cities, a watchdog group says, don’t include the true costs of government in the budgets they present to the public. Into this financial house of mirrors strides Truth in Accounting, a nonprofit, nonpartisan organization devoted to translating inscrutable financial documents into a language everyone can understand.”