Arkansas

2015 Data (Released 09/19/2016)

Financial State of Arkansas

 
Arkansas owes more than it owns
At -$1,400, Arkansas's “Taxpayer's Burden” ranks 13th out of the 50 states
Arkansas 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
Arkansas has only $8.1 billion of assets available to pay bills totaling $9.2 billion
To fill the $1 billion financial hole each Arkansas taxpayer would have to send $1,400 to the state
Because of a new accounting rule, Arkansas 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 $1.2 billion in 2015. However, the state is still hiding $314 million of pension debt from taxpayers.
The state's financial report was released 184 days after its fiscal year end, which is considered untimely according to the 180 day goal
 

Prior Years' TIA Data

2014 Financial State of Arkansas

2013 Financial State of Arkansas

Other Resources

Arkansas Comprehensive Annual Financial Reports

Publishing Entity: Arkansas Department of Finance and Administration

IN THE NEWS
Fiscal survey of the states

DECEMBER 16, 2015 | NATIONAL ASSOCIATION OF STATE BUDGET OFFICERS

Enacted state budgets for fiscal 2016 represent a sixth consecutive year of spending and revenue growth, according to this report. 

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