Riverside : State Data and Comparisons : Data-Z

Riverside, CA

TIA Data

2023 Financial State of Riverside (Released 02/27/2024)

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Riverside owes more than it owns.

Riverside has a -$1,700 Taxpayer Burden.™

Riverside 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.

Riverside only has $1.2 billion of assets available to pay bills totaling $1.4 billion.

Because Riverside doesn't have enough money to pay its bills, it has a -$205.4 million financial hole. To erase this shortfall, each Riverside taxpayer would have to send -$1,700 to the city.

Riverside's reported net position is inflated by $245.6 million, largely because the city defers recognizing losses incurred when retirement liabilities increase.

The city's financial report was released 131 days after its fiscal year end, which is considered timely according to the 180 day standard.