Los Angeles, CA

TIA Data

2018 Financial State of Los Angeles (Released 1/24/2020)

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Los Angeles' Taxpayer Burden™ is -$4,000, and it received a "C" from TIA.
Los Angeles 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.
Los Angeles only has $14.3 billion of assets available to pay bills totaling $19.6 billion.
Because Los Angeles doesn't have enough money to pay its bills, it has a $5.3 billion financial hole. To erase this shortfall, each Los Angeles taxpayer would have to send $4,000 to the city.
Los Angeles's reported net position is inflated by $1.6 billion, largely because the city defers recognizing losses incurred when retirement liabilities increase.
The city's financial report was released 215 days after its fiscal year end, which is considered untimely according to the 180 day standard.

Prior Years' TIA Data

2017 Los Angeles Combined Taxpayer Burden

2017 Financial State of Los Angeles

2016 Los Angeles Combined Taxpayer Burden

2016 Financial State of Los Angeles

2015 Financial State of Los Angeles

2014 Financial State of Los Angeles

Other Resources

Los Angeles Comprehensive Annual Financial Reports

Publishing Entity: City Controller

Why three California cities are fiscal standouts

JANUARY 31, 2020 | THE BOND BUYER | by Keeley Webster

Three California cities stand out for managing their financial obligations better than others, according to a recent report from Truth in Accounting, a think tank that analyzes government financial reporting.