Truth in Accounting

Irvine, CA

TIA Data

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

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

 
Irvine's Taxpayer Surplus™ is $4,100, and it received a "B" from TIA.
Irvine is a Sunshine City with enough assets to cover its debt.
Decisions by elected officials have created a Taxpayer Surplus™, which is each taxpayer's share of money available after city bills have been paid.
TIA's Taxpayer Surplus™ measurement incorporates all assets and liabilities, including retirement obligations.
Irvine has $610.9 million of assets available to pay the state's bills totaling $240.6 million.
Irvine has $370.3 million available after bills have been paid, which breaks down to $4,100 per taxpayer.
Irvine's reported net position is inflated by $69 million, largely because the city defers recognizing losses incurred when retirement liabilities increase.
The city's financial report was released 141 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2018 Financial State of Irvine

2017 Financial State of Irvine

2016 Financial State of Irvine

Other Resources

Irvine Comprehensive Annual Financial Reports

Publishing Entity: Administrative Services Department

IN THE NEWS
Underpinning the pandemic, another malady: Municipal finances

FEBRUARY 3, 2021 | CONNECT COMMERCIAL REAL ESTATE | by Connect Commercial Real Estate

Includes “COVID-19 and the resulting economic downturn made a considerable impact in many areas of the U.S. economy during 2020, but most certainly in municipal budgets. … New York City claimed the dubious distinction of worst municipal finances in the U.S. for the fifth year in a row—and that was before the nation’s largest city became an early epicenter for the pandemic. “

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