Truth in Accounting

San Diego, CA

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TIA Data

2023 Financial State of San Diego (Released 02/27/2024)

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

 
San Diego owes more than it owns.
San Diego has a -$3,900 Taxpayer Burden.™
San Diego 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.
San Diego only has $3.8 billion of assets available to pay bills totaling $5.9 billion.
Because San Diego doesn't have enough money to pay its bills, it has a -$2.1 billion financial hole. To erase this shortfall, each San Diego taxpayer would have to send -$3,900 to the city.
San Diego's reported net position is inflated by $510.3 million, largely because the city defers recognizing losses incurred when retirement liabilities increase.
The city's financial report was released 182 days after its fiscal year end, which is considered untimely according to the 180 day standard.

Prior Years' TIA Data

2022 Financial State of San Diego

2021 San Diego Combined Taxpayer Burden

2021 Financial State of San Diego

2020 San Diego Combined Taxpayer Burden

2020 Financial State of San Diego

2019 San Diego Combined Taxpayer Burden

2019 Financial State of San Diego

2018 San Diego Combined Taxpayer Burden

2018 Financial State of San Diego

2017 San Diego Combined Taxpayer Burden

2017 Financial State of San Diego

2016 San Diego Combined Taxpayer Burden

2016 Financial State of San Diego

2015 Financial State of San Diego

2014 Financial State of San Diego

 

Other Resources

San Diego Annual Comprehensive Financial Reports

Publishing Entity: Office of the City Comptroller

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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