Truth in Accounting

Seattle, WA

TIA Data

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

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

 
Seattle's Taxpayer Burden™ is -$5,400, and it received a "D" from TIA.
Seattle 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.
Seattle only has $2.7 billion of assets available to pay bills totaling $4.2 billion.
Because Seattle doesn't have enough money to pay its bills, it has a $1.5 billion financial hole. To erase this shortfall, each Seattle taxpayer would have to send $5,400 to the city.
Seattle's reported net position is understated by $2.8 million, largely because the city defers recognizing gains resulting from decreases in retirement liabilities.
The city's financial report was released 301 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2017 Financial State of Seattle

2016 Financial State of Seattle

2015 Financial State of Seattle

Other Resources

Seattle Comprehensive Annual Financial Reports

Publishing Entity: Department of Finance and Administrative Services

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