Michigan

TIA Data

2019 Financial State of Michigan (Released 9/22/2020)

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

 
Michigan owes more than it owns.
Michigan's Taxpayer Burden™ is -$17,000, and it received a "D" from TIA.
Michigan 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.
Michigan only has $29.1 billion of assets available to pay bills totaling $85.7 billion.
Because Michigan doesn't have enough money to pay its bills, it has a $56.6 billion financial hole. To fill it, each Michigan taxpayer would have to send $17,000 to the state.
Michigan's reported net position is overstated by $700.6 million, largely because the state delays recognizing losses incurred when the net pension liability increases.
The state's financial report was released 158 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2018 Financial State of Michigan

2017 Financial State of Michigan

2016 Financial State of Michigan

2015 Financial State of Michigan

2014 Financial State of Michigan

2013 Financial State of Michigan

2012 Financial State of Michigan

2011 Financial State of Michigan

2010 Financial State of Michigan

2009 Financial State of Michigan

City and Other Municipal Reports

2013 Financial State of Battle Creek

2013 Financial State of Flint

2013 Financial State of Grand Rapids

2013 Financial State of Holland

2013 Financial State of Jackson

2013 Financial State of Kalamazoo

2013 Financial State of Lansing

2013 Financial State of Midland

2013 Financial State of Saginaw

Financial State of Detroit

Other Resources

Michigan Comprehensive Annual Financial Reports

Publishing Entity: State Budget Office

IN THE NEWS
Commission releases Detroit Public Schools … from active state oversight

OCTOBER 27, 2020 | MICHIGAN DEPARTMENT OF TREASURY

The Detroit Financial Review Commission (FRC) voted unanimously today to immediately grant a waiver that releases both Detroit Public Schools (DPS) and Detroit Public Schools Community District (DPSCD) from active state oversight. The elected DPSCD School Board and its appointed Superintendent manage the district along with DPS, which solely functions to manage the district’s legacy debt.

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