Arizona

TIA Data

2016 Financial State of Arizona (Released 6/15/2017)

2015 Financial State of Tucson (Released 1/11/2017)

2015 Financial State of Phoenix (Released 1/11/2017)

2015 Financial State of Mesa (Released 1/11/2017)

 
Arizona owes more than it owns
Arizona's Taxpayer Burden™ is -$3,500, and received a "C" from TIA
Arizona 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
Arizona only has $9.9 billion of assets available to pay bills totaling $16.6 billion
Because Arizona doesn't have enough money to pay its bills, it has a $6.7 billion financial hole. To fill it, each Arizona taxpayer would have to send $3,500 to the state
Because of an accounting rule implemented last year, Arizona has to report its pension debt on its balance sheet. This year, the state's reported pension debt grew from $4.9 billion in 2015 to $5.2 billion in 2016.
Despite reporting most of its pension debt, the state is still hiding retiree health care debt. Arizona's total hidden debt amounts to $1.3 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 financial report was released 341 days after its fiscal year end, which is considered untimely according to the 180 day standard
 

Prior Years' TIA Data

2015 Financial State of Arizona

2014 Financial State of Arizona

2013 Financial State of Arizona

Other Resources

Arizona Comprehensive Annual Financial Reports

Publishing Entity: General Accounting Office

IN THE NEWS
Pension debt punt could cost Phoenix taxpayers $2.3 billion

JUNE 16, 2017 | THE ARIZONA REPUBLIC

City Manager Ed Zuercher is proposing the city relieve the pressure by taking more time to pay off pension debt - a move the Arizona Legislature and Gov. Doug Ducey authorized this year to help localities with their pension costs.

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