Truth in Accounting

Philadelphia, PA

 

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

 
Philadelphia owes more than it owns.
Philadelphia has a -$17,000 Taxpayer Burden.™
Philadelphia is a Sinkhole State without enough assets to cover its debt.
Elected officials have created a Taxpayer Burden™, which is each taxpayer's share of state bills after its available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.
Philadelphia only has $10.7 billion of assets available to pay bills totaling $20.1 billion.
Because Philadelphia doesn't have enough money to pay its bills, it has a -$9.4 billion financial hole. To fill it, each Philadelphia taxpayer would have to send -$17,000 to the state.
Philadelphia's reported net position is overstated by $908.4 million, largely because the state delays recognizing losses incurred when the net pension liability increases.
The state's financial report was released 239 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2023 Financial State of Philadelphia

2022 Financial State of Philadelphia

2021 Philadelphia Combined Taxpayer Burden

2021 Financial State of Philadelphia

2020 Philadelphia Combined Taxpayer Burden

2020 Financial State of Philadelphia

2019 Philadelphia Combined Taxpayer Burden

2019 Financial State of Philadelphia

2018 Philadelphia Combined Taxpayer Burden

2018 Financial State of Philadelphia

2017 Philadelphia Combined Taxpayer Burden

2017 Financial State of Philadelphia

2016 Philadelphia Combined Taxpayer Burden

2016 Financial State of Philadelphia

2015 Financial State of Philadelphia

2014 Financial State of Philadephia

 

Other Resources

Philadelphia Annual Comprehensive Financial Reports

Publishing Entity: Office of the Director of Finance
IN THE NEWS
Financial State of the Cities 2026

FEBRUARY 5, 2026

The report examines the fiscal health of America’s five largest cities–Los Angeles, Houston, Philadelphia, Chicago, and New York City. 

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