Truth in Accounting

Honolulu, HI

TIA Data

2019 Financial State of Honolulu (Released 1/26/2021)

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

 
Honolulu's Taxpayer Burden™ is -$29,600, and it received an "F" from TIA.
Honolulu 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.
Honolulu only has $2.7 billion of assets available to pay bills totaling $6.2 billion.
Because Honolulu doesn't have enough money to pay its bills, it has a $3.5 billion financial hole. To erase this shortfall, each Honolulu taxpayer would have to send $29,600 to the city.
Honolulu's reported net position is inflated by $951 million, largely because the city defers recognizing losses incurred when retirement liabilities increase.
The city's financial report was released 191 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2018 Financial State of Honolulu

2017 Financial State of Honolulu

2016 Financial State of Honolulu

Other Resources

Honolulu Comprehensive Annual Financial Reports

Publishing Entity: Department of Budget and Fiscal Services

IN THE NEWS
Majority of U.S. cities ill-prepared for COVID-19 pandemic

JANUARY 26, 2021

The 2021 Financial State of the Cities (FSOC) surveys the fiscal health of the 75 largest municipalities in the United States. This data is released today by Truth in Accounting (TIA), a think tank that analyzes government financial reporting.

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