Phoenix, AZ

TIA Data

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

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Phoenix's Taxpayer Burden™ is -$5,500, and it received a "D" from TIA.
Phoenix 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.
Phoenix only has $4.1 billion of assets available to pay bills totaling $6.8 billion.
Because Phoenix doesn't have enough money to pay its bills, it has a $2.7 billion financial hole. To erase this shortfall, each Phoenix taxpayer would have to send $5,500 to the city.
Phoenix's reported net position is inflated by $551.9 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 Phoenix Combined Taxpayer Burden

2017 Financial State of Phoenix

2016 Phoenix Combined Taxpayer Burden

2016 Financial State of Phoenix

2015 Financial State of Phoenix

2014 Financial State of Phoenix

Other Resources

Phoenix Comprehensive Annual Financial Reports

Publishing Entity: Finance Department

A response to the city of Phoenix's 'invalid' claim

FEBRUARY 10, 2020 | by Sheila Weinberg

Includes "Pension debt is similar to credit card debt, not a mortgage, because it is debt accumulated to cover costs that have already been incurred. Evidently Phoenix has a plan to pay the pension debt off over the next 22 years, but this does not negate the fact that this debt exists today. To explain this concept on a personal level, someone who plans to pay off a credit card balance over time by paying the minimum payments still has outstanding credit card debt now."