Truth in Accounting

Saint Paul, MN

TIA Data

2019 Financial State of Saint Paul (Released 1/26/2021)

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

 
Saint Paul's Taxpayer Burden™ is -$2,900, and it received a "C" from TIA.
Saint Paul 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.
Saint Paul only has $565.4 million of assets available to pay bills totaling $887 million.
Because Saint Paul doesn't have enough money to pay its bills, it has a $321.6 million financial hole. To erase this shortfall, each Saint Paul taxpayer would have to send $2,900 to the city.
Saint Paul's reported net position is understated by $21 million, largely because the city defers recognizing gains resulting from decreases in retirement liabilities.
The city's financial report was released 324 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2018 Financial State of Saint Paul

2017 Financial State of Saint Paul

2016 Financial State of Saint Paul

Other Resources

Saint Paul Comprehensive Annual Financial Reports

Publishing Entity: Financial 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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