Spending, assets and obligations
City and county public money
Explore government expenditure, investment assets, financing, tax breaks, and future obligations across federal, state, city and county governments. Follow the records and see the coverage gaps.
25
Money tracks
The main ways government pays, invests, finances, or commits resources.
50 states
Reported finance records
FY2023 and FY2024; 16 additional source-defined measures per state.
Visible gaps
Coverage before conclusions
A linked source or tracker is not proof that every transaction is captured.
Choose the money trail.
Budgets answer what was authorized. Expenditure records answer what was spent. Investment and debt schedules answer what is held or owed. Tax estimates and future commitments answer other questions. These tracks overlap or use different measures; they are a navigation map, not an additive national spending total.
01 / Annual expenditure
Day-to-day operations
Keeping public services running: supplies, routine services, employee costs, and repairs.
50-state reported measure + federal/local source routes →
02 / Expenditure detail
Public payroll and employee benefits
What government pays for staff, employer benefits, overtime, and administration.
Existing dashboards, official sources, and collection gaps →
03 / Expenditure detail
Contracts and vendor payments
Payments for goods and services, from a contract award through its invoices and delivery.
Existing dashboards, official sources, and collection gaps →
04 / Annual expenditure
Grants and government transfers
Public money moved to another government, nonprofit, university, or other funded organization.
50-state reported measure + federal/local source routes →
05 / Expenditure detail
Benefits and direct subsidies
Benefits, assistance, subsidies, scholarships, reimbursements, and direct support to people or organizations.
Existing dashboards, official sources, and collection gaps →
06 / Annual expenditure
Infrastructure and capital projects
Construction, land, buildings, equipment, and major improvements with a lasting public use.
50-state reported measure + federal/local source routes →
07 / Annual expenditure
Interest on government debt
The cost of borrowing public money.
50-state reported measure + federal/local source routes →
08 / Financing flow
Debt principal and refinancing
Repaying or retiring borrowed principal, including debt that is replaced through refinancing.
50-state reported measure + federal/local source routes →
09 / Insurance-trust payment
Pension benefit payments
Money paid from government-administered retirement systems to beneficiaries, including withdrawals.
50-state reported measure + federal/local source routes →
10 / Insurance-trust payment
Unemployment benefit payments
Payments from government-administered unemployment compensation systems.
50-state reported measure + federal/local source routes →
11 / Insurance-trust payment
Workers’ compensation benefits
Benefits paid by state-administered workers’ compensation systems.
50-state reported measure + federal/local source routes →
12 / Insurance-trust payment
Other social-insurance benefits
Payments from other government social-insurance systems, including applicable disability and sickness programs.
50-state reported measure + federal/local source routes →
13 / Annual expenditure
Public utilities and transit
Government-operated water, electricity, gas, and transit services.
50-state reported measure + federal/local source routes →
14 / Annual expenditure
Public enterprises and liquor operations
Government commercial activities, authorities, and enterprise funds.
50-state reported measure + federal/local source routes →
15 / Overlapping expenditure exhibit
Lottery prizes and operations
Lottery ticket proceeds, prizes, administration, and transfers for public purposes.
50-state reported measure + federal/local source routes →
16 / Asset balance
Public investment holdings
What public entities hold in cash, deposits, securities, and public investment portfolios at a reporting date.
50-state reported measure + federal/local source routes →
17 / Asset transaction
Investment purchases and sales
Executed security purchases, sales, maturities, and investment income.
Existing dashboards, official sources, and collection gaps →
18 / Credit flow or asset
Government loans and credit
Direct lending, credit programs, loan repayments, and related subsidy costs.
Existing dashboards, official sources, and collection gaps →
19 / Estimated revenue forgone
Tax breaks and revenue forgone
Public support delivered through tax exclusions, exemptions, deductions, credits, and preferential rates.
Existing dashboards, official sources, and collection gaps →
20 / Liability or contingent exposure
Guarantees and future obligations
Guarantees, insurance promises, legal claims, cleanup duties, and commitments that may require future public money.
Existing dashboards, official sources, and collection gaps →
21 / Commitment and payment
Leases and public-private partnerships
Public leases, concessions, long-term service arrangements, and partnerships with private operators.
Existing dashboards, official sources, and collection gaps →
22 / Separate accounting measure
Fiduciary, noncash and other activity
Money held for others, agency transactions, depreciation, in-kind activity, adjustments, and items awaiting classification.
Existing dashboards, official sources, and collection gaps →
23 / Debt balance
Government debt outstanding
The outstanding principal reported by a government at its reporting date.
50-state reported measure + federal/local source routes →
24 / Financing flow
New borrowing and debt issuance
New long-term financing raised through borrowing, including debt used for refinancing.
50-state reported measure + federal/local source routes →
25 / Insurance-trust payment
Total social-insurance trust payments
The reported total for retirement, unemployment, workers’ compensation, and other social-insurance payments.
50-state reported measure + federal/local source routes →
Start with the owner and the reporting entity.
The existing local dashboards cover Los Angeles, San Francisco, Chicago, and New York City. Municipal utilities, pension systems, counties, school districts, and special districts can report separately. The coverage here is selected; it is not a census of every local government.
Official portfolio summary · 2026-06-30
New York City — five public retirement systems
$326,300,000,000
Reported assets under management, rounded to $0.1 billion. Combined systems and broad strategies; issuer countries and security-level purchases are not reported in this summary. These assets support future pension benefits.
Amounts retain each source’s stated precision. These summaries remain separate from the issuer-level securities ledger.
Official portfolio summary · 2026-06-30
Los Angeles City Employees’ Retirement System — Master Trust
$28,107,132,443
Reported market value in nominal dollars; performance is gross of fees. LACERS Master Trust only. This excludes other Los Angeles pension systems, the city treasury, utilities, and Los Angeles County. It is not a city-wide total or annual expenditure.
| Reported class / entity | Amount | Evidence |
|---|---|---|
| LACERS Master Trust market value | $28,107,132,443 | LACERS quarterly investment report, June 30, 2026 — PDF page 4 ↗ |
Amounts retain each source’s stated precision. These summaries remain separate from the issuer-level securities ledger.
Official portfolio summary · 2025-06-30
San Francisco City and County Employees’ Retirement System — investment portfolio
$37,217,386,000
Reported investment-performance market values in $1,000 units, normalized to dollars. SFERS pension investment portfolio only. Values reflect information available at fiscal-year end, net of fees and expenses; cash includes leverage exposure. The source explains why these values can differ from audited financial-statement investments. This does not include the separate deferred-compensation plan or all City and County assets.
| Reported class / entity | Amount | Evidence |
|---|---|---|
| Public equity | $11,011,512,000 | SFERS FY2025 annual report brochure — PDF page 2, investment summary ↗ |
| Private equity | $9,901,327,000 | SFERS FY2025 annual report brochure — PDF page 2, investment summary ↗ |
| Real assets | $5,083,744,000 | SFERS FY2025 annual report brochure — PDF page 2, investment summary ↗ |
| Absolute-return strategies | $3,623,630,000 | SFERS FY2025 annual report brochure — PDF page 2, investment summary ↗ |
| Fixed income | $3,701,019,000 | SFERS FY2025 annual report brochure — PDF page 2, investment summary ↗ |
| Private credit | $3,365,394,000 | SFERS FY2025 annual report brochure — PDF page 2, investment summary ↗ |
| Cash, including leverage exposure | $530,760,000 | SFERS FY2025 annual report brochure — PDF page 2, investment summary ↗ |
Amounts retain each source’s stated precision. These summaries remain separate from the issuer-level securities ledger.
Official portfolio summary · 2025-12-31
Chicago — Policemen’s Annuity and Benefit Fund
$3,909,058,908
Reported investments at fair value in nominal dollars; Note 4, printed page 21. One Chicago pension component unit only; excludes the city treasury and other pension systems. The investment subtotal excludes separately reported securities-lending cash collateral. Pooled funds and asset classes are not issuer-country exposure or individual security purchases.
Amounts retain each source’s stated precision. These summaries remain separate from the issuer-level securities ledger.
Supported local spending dashboards
Coverage is part of the record.
This map covers the main financial mechanisms and links their available trackers. It does not claim every public entity, recipient, or transaction has been collected. Every category remains open to additional records and reconciliation. Amounts alone do not establish waste or fraud.
From tracking spending to demanding receipts
Public money should leave a public receipt.
Today’s reporting can show spending without a complete trail to the final recipient or proof of delivery. Help close those gaps, strengthen checks before payment, and reduce opportunities for fraud and abuse.
Support the Receipts & Transparency Act →Read the citizen proposal and add your support.