Truth in Accounting

Baltimore, MD

TIA Data

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

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

 
Baltimore owes more than it owns.
Baltimore's Taxpayer Burden™ is -$14,100, and it received a "D" from TIA.
Baltimore 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.
Baltimore only has $4 billion of assets available to pay bills totaling $6.9 billion.
Because Baltimore doesn't have enough money to pay its bills, it has a -$2.9 billion financial hole. To erase this shortfall, each Baltimore taxpayer would have to send -$14,100 to the city.
Baltimore's reported net position is understated by $405.5 million, largely because the city defers recognizing gains resulting from decreases in retirement liabilities.
The city's financial report was released 211 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2021 Financial State of Baltimore

2020 Financial State of Baltimore

2019 Financial State of Baltimore

2018 Financial State of Baltimore

2017 Financial State of Baltimore

2016 Financial State of Baltimore

2015 Financial State of Baltimore

Other Resources

Baltimore Annual Comprehensive Financial Reports

Publishing Entity: Baltimore City Department of Finance

IN THE NEWS
Baltimore nonprofits dodge needed scrutiny

OCTOBER 21, 2024 | THE BALTIMORE SUN | by David Williams

Baltimore’s finances are in a bad way. Despite assurances from the mayor that the city’s $4.1 billion budget for fiscal year 2025 is balanced, this misleading message masks a dismal reality. As fiscal watchdog Truth in Accounting notes in its 2024 “Financial State of the Cities” report, “Baltimore would need $14,100 from each of its taxpayers to pay all of its outstanding bills”

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