Truth in Accounting

Miami, FL

TIA Data

2020 Financial State of Miami (Released 1/25/2022)

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

 
Miami's Taxpayer Burden™ is -$13,800, and it received a "D" from TIA.
Miami 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.
Miami only has $377.2 million of assets available to pay bills totaling $2.5 billion.
Because Miami doesn't have enough money to pay its bills, it has a $2.1 billion financial hole. To erase this shortfall, each Miami taxpayer would have to send $13,800 to the city.
Miami's reported net position is inflated by $255 million, largely because the city defers recognizing losses incurred when retirement liabilities increase.
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

2019 Financial State of Miami

2018 Financial State of Miami

2017 Financial State of Miami, FL

2016 Financial State of Miami

2015 Financial State of Miami

Other Resources

Miami Comprehensive Annual Financial Reports

Publishing Entity: City of Miami Finance Department

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