News

Second wave of 2017 FSOS now available!

Truth in Accounting  |  May 15, 2018

On May 15, Truth in Accounting released its findings on the finances of nine additional states as part of its lead-up to the 2017 Financial State of the States report.

States included in TIA’s second early release are Alaska, Connecticut, Delaware, Iowa, Illinois, North Dakota, Utah, Washington and West Virginia.

Following is a list with links to the individual state reports as well as some of the main findings.

Alaska

  • Grade: A
  • Money available to pay future bills: $16.3 billion
    • Unfunded pension benefits: $4.5 billion
    • Unfunded retiree health care benefits: $589.3 million
  • Taxpayer Surplus: $56,500

Connecticut

  • Grade: F
  • Money needed to pay future bills: $69.8 billion
    • Unfunded pension benefits: $34.8 billion
    • Unfunded retiree health care benefits: $20.9 billion
  • Taxpayer Burden: -$53,400

Delaware

  • Grade: F
  • Money needed to pay future bills: $10 billion
    • Unfunded pension benefits: $1.9 billion
    • Unfunded retiree health care benefits: $8.4 billion
  • Taxpayer Burden: -$30,400

Iowa

  • Grade: B
  • Money needed to pay future bills: $504.9 million
    • Unfunded pension benefits: $1.3 billion
    • Unfunded retiree health care benefits: $388.2 million
  • Taxpayer Surplus: $500

Illinois

  • Grade: F
  • Money needed to pay future bills: $216.1 billion
    • Unfunded pension benefits: $134.4 billion
    • Unfunded retiree health care benefits: $52.5 billion
  • Taxpayer Burden: -$50,800

North Dakota

  • Grade: A
  • Money needed to pay future bills: $7.1 billion
    • Unfunded pension benefits: $865.4 million
    • Unfunded retiree health care benefits: $51.6 million
  • Taxpayer Surplus: $24,900

Utah

  • Grade: B
  • Money needed to pay future bills: $3.9 billion
    • Unfunded pension benefits: $1.4 billion
    • Unfunded retiree health care benefits: $111.9 million
  • Taxpayer Surplus: $4,400

Washington

  • Grade: D
  • Money needed to pay future bills: $24.1 billion
    • Unfunded pension benefits: $23.6 billion
    • Unfunded retiree health care benefits: $10.5 billion
  • Taxpayer Burden: -$9,100

West Virginia

  • Grade: D
  • Money needed to pay future bills: $4.9 billion
    • Unfunded pension benefits: $3.6 billion
    • Unfunded retiree health care benefits: $2 billion
  • Taxpayer Burden: -$9,500
 
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