Truth in Accounting

Toledo, OH

TIA Data

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

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

 
Toledo's Taxpayer Burden™ is -$3,200, and it received a "C" from TIA.
Toledo 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.
Toledo only has $469.8 million of assets available to pay bills totaling $755.4 million.
Because Toledo doesn't have enough money to pay its bills, it has a $285.7 million financial hole. To erase this shortfall, each Toledo taxpayer would have to send $3,200 to the city.
Toledo's reported net position is inflated by $124.7 million, largely because the city defers recognizing losses incurred when retirement liabilities increase.
The city's financial report was released 211 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2018 Financial State of Toledo

2017 Financial State of Toledo

2016 Financial State of Toledo

Other Resources

Toledo Comprehensive Annual Financial Reports

Publishing Entity: Department of Finance

IN THE NEWS
Do states and cities ‘need’ Biden’s $350 billion in direct COVID-19 relief? It depends where you’re asking

FEBRUARY 8, 2021 | USA TODAY | by Joey Garrison

By Joey Garrison, includes “… Republicans have slammed the city and state relief as an unneeded bailout for liberal-controlled cities and states that mismanaged finances. This week they seized on a new J.P. Morgan study that found revenue growth in state governments declined only marginally since the pandemic hit, hardly the doomsday scenario that many forecasted last spring.”
 

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