Denver’s Financial Condition Improves, Earning a “C” Grade

Denver’s financial condition showed signs of improvement in fiscal year 2023, but the city still faced a $4.5 million shortfall. This equates to a Taxpayer Burden™ of $15, earning Denver a “C” grade in Truth in Accounting’s latest report.

The city reported an annual surplus exceeding $1 billion, driven by strong investment income of $351.6 million and a $181 million increase in charges for services. Additionally, Denver benefited from a 262.64% surge in investment and interest income due to rising interest rates. The city’s tourism sector also contributed to revenue growth, with a $15.35 million (11.10%) increase in lodger’s tax revenue.
Key findings from the report include:

• Denver had $7.151 billion available to pay $7.155 billion in bills.
• The city’s financial shortfall amounted to $4.5 million, translating to a $15 burden per taxpayer.
• Strong investment returns and increased tourism revenues supported Denver’s financial position.

While Denver's financial outlook has improved, managing long-term liabilities and sustaining economic momentum will be crucial for maintaining fiscal stability.

For those interested in a deeper dive into Denver’s finances—and how it compares to other major U.S. cities—you can read the full Financial State of the Cities 2025 report here.