Truth in Accounting

Los Angeles, CA

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TIA Data

2023 Financial State of Los Angeles (Released 02/27/2024)

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

 
Los Angeles owes more than it owns.
Los Angeles has a -$1,000 Taxpayer Burden.™
Los Angeles 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.
Los Angeles only has $20.3 billion of assets available to pay bills totaling $21.8 billion.
Because Los Angeles doesn't have enough money to pay its bills, it has a -$1.5 billion financial hole. To erase this shortfall, each Los Angeles taxpayer would have to send -$1,000 to the city.
Los Angeles's reported net position is inflated by $3.2 billion, largely because the city defers recognizing losses incurred when retirement liabilities increase.
The city's financial report was released 208 days after its fiscal year end, which is considered untimely according to the 180 day standard.

Prior Years' TIA Data

2022 Financial State of Los Angeles

2021 Los Angeles Combined Taxpayer Burden

2021 Financial State of Los Angeles

2020 Los Angeles Combined Taxpayer Burden

2020 Financial State of Los Angeles

2019 Los Angeles Combined Taxpayer Burden

2019 Financial State of Los Angeles

2018 Los Angeles Combined Taxpayer Burden

2018 Financial State of Los Angeles

2017 Los Angeles Combined Taxpayer Burden

2017 Financial State of Los Angeles

2016 Los Angeles Combined Taxpayer Burden

2016 Financial State of Los Angeles

2015 Financial State of Los Angeles

2014 Financial State of Los Angeles

 

Other Resources

Los Angeles Annual Comprehensive Financial Reports

Publishing Entity: Los Angeles City Controller

IN THE NEWS
Financial State of the Cities 2025

FEBRUARY 27, 2025

The Financial State of the Cities report found that 54 cities did not have enough money to pay their bills. Each city has some form of a balanced budget requirement, but this new report shows that cities have not met the intent of their requirement and have pushed costs onto future taxpayers.

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