Truth in Accounting

TIA Data

2018 Financial State of Illinois (Released 9/24/2019)

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

 
Illinois owes more than it owns.
Illinois' Taxpayer Burden™ is -$52,600, and it received an "F" from TIA.
Illinois 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.
Illinois only has $28.9 billion of assets available to pay bills totaling $252.8 billion.
Because Illinois doesn't have enough money to pay its bills, it has a $223.9 billion financial hole. To fill it, each Illinois taxpayer would have to send $52,600 to the state.
Illinois's reported net position is inflated by $10.2 billion, largely because the state defers recognizing losses incurred when the net pension liability increases.
The state's financial report was released 418 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2017 Financial State of Illinois

2016 Financial State of Illinois

2015 Financial State of Illinois

2014 Financial State of Illinois

2013 Financial State of Illinois

2012 Financial State of Illinois

2011 Financial State of Illinois

2010 Financial State of Illinois

2009 Financial State of Illinois

City and Other Municipal Reports

Financial State of Chicago

2018 Financial State of Wood Dale

2016/2017 Financial State of 10 Illinois Suburbs

2018 Financial State of Chicago Public Schools

2016 Financial State of Chicago Public Schools

2015 Financial State of Chicago Public Schools

2014 Financial State of Chicago Public Schools

2015 Financial State of LaSalle County

2014 Financial State of Glencoe

2012 Financial State of Cook County

Other Resources

Illinois Comprehensive Annual Financial Reports

Publishing Entity: Illinois State Comptroller

IN THE NEWS
Towns spending 33% of property taxes on pensions

JANUARY 27, 2020 | DAILY HERALD (ILLINOIS) | by Jake Griffin

In 2018, the average amount spent on public pensions by 74 suburbs was equal to one-third of what those towns collected in property taxes. In a few suburbs, the amount spent on pension debt was almost as much as the total amount property owners paid in taxes that year.

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