Alabama

TIA Data

2015 Financial State of Alabama (As of June 30, 2017, Alabama had not released its 2016 Comprehensive Annual Financial Report)

 
Alabama owes more than it owns and ranks 35th out of the 50 states.
Alabama's Taxpayer Burden™ is -$14,000, and received a "D" from TIA.
Alabama 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.
Alabama only has $10.1 billion of assets available to pay bills totaling $28.2 billion.
Because Alabama doesn't have enough money to pay its bills, it has a $18.1 billion financial hole. To fill it, each Alabama taxpayer would have to send $14,000 to the state.
Because of an accounting rule implemented last year, Alabama has to report its pension debt on its balance sheet. As a result, the state's reported pension debt grew from $0 in 2014 to $6.6 billion in 2015.
Despite reporting most of its pension debt, the state is still hiding retiree health care debt. Alabama's total hidden debt amounts to $11 billion. A new accounting standard will be implemented in two years, and will require states to report this debt on the balance sheet.
The state's 2015 financial report was released 565 days after its fiscal year end, which is considered untimely according to the 180 day standard. As of June 30, 2017, which is already 93 days late, Alabama's 2016 financial report still had not been released!
 

Prior Years' TIA Data

2014 Financial State of Alabama

2013 Financial State of Alabama

Other Resources

Alabama Comprehensive Annual Financial Reports

Publishing Entity: Alabama Department of Finance - Comptroller's Office

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