Truth in Accounting

Omaha, NE

TIA Data

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

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

 
Omaha's Taxpayer Burden™ is -$7,500, and it received a "D" from TIA.
Omaha 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.
Omaha only has $703.7 million of assets available to pay bills totaling $1.9 billion.
Because Omaha doesn't have enough money to pay its bills, it has a $1.2 billion financial hole. To erase this shortfall, each Omaha taxpayer would have to send $7,500 to the city.
Omaha's reported net position is inflated by $85.2 million, largely because the city defers recognizing losses incurred when retirement liabilities increase.
The city's financial report was released 212 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2018 Financial State of Omaha

2017 Financial State of Omaha

2016 Financial State of Omaha

2015 Financial State of Omaha

Other Resources

Omaha Comprehensive Annual Financial Reports

Publishing Entity: City of Omaha Finance Department

IN THE NEWS
Omaha and Lincoln’s growing challenge in pension funding

MARCH 23, 2021 | PLATTE INSTITUTE (NEBRASKA) | by Zachary Christensen, Jordan Campbell

By Zachary Christensen and Jordan Campbell (Reason Foundation), includes “Public pension debts from three major municipal plans in Nebraska are approaching $1 billion, and an analysis of Omaha’s two municipal systems and Lincoln’s public safety plan suggest that this shortfall is likely to continue to expand unless policymakers make meaningful changes to how the city funds and manages the retirement plans.”

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