Truth in Accounting

Las Vegas, NV

TIA Data

2019 Financial State of Las Vegas (Released 1/26/2021)

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

 
Las Vegas' Taxpayer Burden™ is -$1,800, and it received a "C" from TIA.
Las Vegas 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.
Las Vegas only has $821 million of assets available to pay bills totaling $1.2 billion.
Because Las Vegas doesn't have enough money to pay its bills, it has a $379.6 million financial hole. To erase this shortfall, each Las Vegas taxpayer would have to send $1,800 to the city.
Las Vegas's reported net position is inflated by $67.6 million, largely because the city defers recognizing losses incurred when retirement liabilities increase.
The city's financial report was released 155 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2018 Financial State of Las Vegas

2017 Financial State of Las Vegas

2016 Financial State of Las Vegas

2015 Financial State of Las Vegas

Other Resources

Las Vegas Comprehensive Annual Financial Reports

Publishing Entity: Finance Department

IN THE NEWS
The ‘quasi-instrumentality’ question: Chapter 9, Chapter 11, or neither?

FEBRUARY 15, 2021 | BLOOMBERG LAW | by Brian Lohan, Maja Zerjal Fink, Jeffrey Messina

By three Arnold & Porter attorneys, includes “Due to travel and gathering restrictions, revenues supporting these quasi-governmental entities have declined, leading to unscheduled draws on reserve accounts to meet debt service obligations—a potential canary in the coal mine? If these entities are municipalities, they may have no option of reorganizing under the Bankruptcy Code in states that have not authorized muncipalities to be Chapter 9 debtors. In such states, the only option is Chapter 11, provided the entity is a ‘person’ under the Bankruptcy Code. …

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