Truth in Accounting

San Francisco, CA

TIA Data

2022 Financial State of San Francisco (Released 1/15/2024)

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

 
San Francisco owes more than it owns.
San Francisco's Taxpayer Burden™ is -$8,800, and it received a "D" from TIA.
San Francisco 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 Francisco only has $13.2 billion of assets available to pay bills totaling $15.6 billion.
Because San Francisco doesn't have enough money to pay its bills, it has a -$2.4 billion financial hole. To erase this shortfall, each San Francisco taxpayer would have to send -$8,800 to the city.
San Francisco's reported net position is understated by $4.6 billion, largely because the city defers recognizing gains resulting from decreases in retirement liabilities.
The city's financial report was released 231 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2021 Financial State of San Francisco

2020 Financial State of San Francisco

2019 Financial State of San Francisco

2018 Financial State of San Francisco

2017 Financial State of San Francisco

2016 Financial State of San Francisco

2015 Financial State of San Francisco

Other Resources

San Francisco Annual Comprehensive Financial Reports

Publishing Entity: Department of Finance

IN THE NEWS
Cash-Strapped San Francisco Waves Goodbye to Elon Musk’s X

AUGUST 27, 2024 | LIBERTY NATION NEWS | by Andrew Moran

Of course, progressives in The City by the Bay will blame the post-pandemic downturn for the abysmal state of its finances. However, Truth in Accounting already sounded alarm bells in January 2018 when it warned that the jurisdiction was drowning in debt, requiring $7.5 billion to pay its bills. In the short term, officials are trying to keep essential services running. In the long-term, according to the think tank promoting fiscal transparency, San Francisco is grappling with approximately $6 billion in unfunded pension promises and about $4 billion in unfunded retiree health care benefits.

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