Truth in Accounting

Wichita, KS

TIA Data

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

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

 
Wichita's Taxpayer Burden™ is -$1,200, and it received a "C" from TIA.
Wichita 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.
Wichita only has $431 million of assets available to pay bills totaling $580.2 million.
Because Wichita doesn't have enough money to pay its bills, it has a $149.3 million financial hole. To erase this shortfall, each Wichita taxpayer would have to send $1,200 to the city.
Wichita's reported net position is understated by $16.3 million, largely because the city defers recognizing gains resulting from decreases in retirement liabilities.
The city's financial report was released 179 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2017 Financial State of Wichita

2016 Financial State of Wichita

2015 Financial State of Wichita

Other Resources

Wichita Comprehensive Annual Financial Reports

Publishing Entity: Department of Finance

IN THE NEWS
Financial state of the cities

JANUARY 30, 2020 | VOICE FOR LIBERTY (KANSAS) | by Bob Weeks

Truth in Accounting is an organization that works to improve the reliability and transparency of governmental financial information.  Annually, it produces a report titled Financial State of the Cities that examines the fiscal health of cities.

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