Truth in Accounting

Illinois

TIA Data

2022 Financial State of Illinois (Released 10/11/2023)

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

 
Illinois owes more than it owns.
Illinois' Taxpayer Burden™ is -$41,600, and it received an "F" from TIA.
Illinois is a Sinkhole State without enough assets to cover its debt.
Elected officials have created a Taxpayer Burden™, which is each taxpayer's share of state bills after its available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.
Illinois only has $51.8 billion of assets available to pay bills totaling $227.2 billion.
Because Illinois doesn't have enough money to pay its bills, it has a -$175.4 billion financial hole. To fill it, each Illinois taxpayer would have to send -$41,600 to the state.
Illinois's reported net position is understated by $9.4 billion, largely because the state delays recognizing gains resulting from decreases in retirement liabilities.
The state's financial report was released 411 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2021 Financial State of Illinois

2020 Financial State of Illinois

2019 Financial State of Illinois

2018 Financial State of Illinois

2017 Financial State of Illinois

2016 Financial State of Illinois

2015 Financial State of Illinois

2014 Financial State of Illinois

2013 Financial State of Illinois

2012 Financial State of Illinois

2011 Financial State of Illinois

2010 Financial State of Illinois

2009 Financial State of Illinois

City and Other Municipal Reports

2012 Financial State of Cook County Governments

2014 Financial State of Chicago Public Schools

2014 Financial State of Glencoe

2015 Financial State of Chicago Public Schools

2015 Financial State of LaSalle County

2016 Financial State of Chicago Public Schools

2016/2017 Financial State of 10 Illinois Suburbs

2018 Financial State of Wood Dale

Financial State of Chicago

Other Resources

Illinois Annual Comprehensive Financial Reports

Publishing Entity: Illinois State Comptroller

IN THE NEWS
28 States Didn’t Have Enough Money to Cover Their Bills in Fiscal 2022: Report

DECEMBER 24, 2023 | PENNSYLVANIA DAILY STAR | by Bethany Blankley

"In fiscal 2022, 28 states didn’t have enough revenue to pay all of their bills, according to the 14th annual Financial State of the States report, published by the Chicago-based nonprofit Truth in Accounting.

The report provides a comprehensive analysis of the fiscal health of all 50 states based on the latest available data from states’ fiscal year 2022 annual comprehensive financial reports.

New Jersey ranked last for having the worst fiscal health and the greatest taxpayer burden. Not far behind was Connecticut, followed by Illinois, Massachusetts, Hawaii, Kentucky, Delaware, Louisiana, California and Vermont in the bottom ten.

By contrast, 22 states reported surpluses, the majority of which are led by Republican governors."

 

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