California : State Data and Comparisons : Data-Z

California

TIA Data

2023 Financial State of California (Released 10/03/2024)

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California owes more than it owns.

California has a -$17,400 Taxpayer Burden.™

California is a Sinkhole State without enough assets to cover its debt.

Elected officials have created a Taxpayer Burden™, which is each taxpayer's share of state bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.

California only has $275.4 billion of assets available to pay bills totaling $535.8 billion.

Because California doesn't have enough money to pay its bills, it has a -$260.3 billion financial hole. To fill it, each California taxpayer would have to send -$17,400 to the state.

California's reported net position is understated by $15.4 billion, largely because the state delays recognizing gains resulting from decreases in retirement liabilities.

The state's financial report was released 624 days after its fiscal year end, which is considered untimely according to the 180 day standard.

Prior Years' TIA Data

2022 Financial State of California

2021 Financial State of California

2020 Financial State of California

2019 Financial State of California

2018 Financial State of California

2017 Financial State of California

2016 Financial State of California

2015 Financial State of California

2014 Financial State of California

2013 Financial State of California