Truth in Accounting

Milwaukee, WI

TIA Data

2022 Financial State of Milwaukee (Released 2/15/2024)

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

 
Milwaukee owes more than it owns.
Milwaukee's Taxpayer Burden™ is -$15,300, and it received a "D" from TIA.
Milwaukee 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.
Milwaukee only has $1.3 billion of assets available to pay bills totaling $4.4 billion.
Because Milwaukee doesn't have enough money to pay its bills, it has a -$3.1 billion financial hole. To erase this shortfall, each Milwaukee taxpayer would have to send -$15,300 to the city.
Milwaukee's reported net position is understated by $732 million, largely because the city defers recognizing gains resulting from decreases in retirement liabilities.
The city's financial report was released 202 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2021 Financial State of Milwaukee

2020 Financial State of Milwaukee

2019 Financial State of Milwaukee

2018 Financial State of Milwaukee

2017 Financial State of Milwaukee

2016 Financial State of Milwaukee

2015 Financial State of Milwaukee

Other Resources

Milwaukee Annual Comprehensive Financial Reports

Publishing Entity: Office of the Comptroller

IN THE NEWS
Milwaukee pension system has $2.1B net liability

NOVEMBER 19, 2024 | THE CENTER SQUARE | by Jon Styf

Earlier this year, Truth in Accounting graded Milwaukee with a “D” for its financial position as it owed $15,300 per taxpayer for its obligations. Any city with an average taxpayer burden of between $5,000 and $20,000 was graded with a “D.”

In 2023, the Milwaukee pension system reported $545.9 million in net investment income and $203.7 million in total contributions as it paid pension benefits of $466.6 million with $8 million in administrative expenses.

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