Alabama

2014 Data (Released n/a)

Financial State of Alabama

 
Alabama owes more than it owns
At -$14,000, Alabama's “Taxpayer's Burden” ranks 35th out of the 50 states
Alabama is among 40 “Sinkhole States” 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 assets available have been tapped
TIA's Taxpayer Burden measurement incorporates both assets and liabilities, not just pension debt
Alabama has only $9.8 billion of assets available to pay bills totaling $27.7 billion
To fill the $17.8 billion financial hole each Alabama taxpayer would have to send $14,000 to the state
Because of a new accounting rule, Alabama now 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 -0 in 2015. However, the state is still hiding $6.8 billion of pension debt from taxpayers.
The state's financial report was released 182 days after its fiscal year end, which is considered untimely according to the 180 day goal
 

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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