Delaware

TIA Data

2016 Financial State of Delaware (Released 5/15/2017)

 
Delaware owes more than it owns
Delaware's Taxpayer Burden™ is -$26,300, and received an "F" from TIA
Delaware 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
Delaware only has $2.9 billion of assets available to pay bills totaling $11.4 billion
Because Delaware doesn't have enough money to pay its bills, it has a $8.5 billion financial hole. To fill it, each Delaware taxpayer would have to send $26,300 to the state
Because of an accounting rule implemented last year, Delaware has to report its pension debt on its balance sheet. This year, the state's reported pension debt grew from $739.8 million in 2015 to $1.1 billion in 2016.
Despite reporting most of its pension debt, the state is still hiding retiree health care debt. Delaware's total hidden debt amounts to $5.5 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 175 days after its fiscal year end, which is considered timely according to the 180 day standard
 

Prior Years' TIA Data

2015 Financial State of Delaware

2014 Financial State of Delaware

2013 Financial State of Delaware

Other Resources

Delaware Comprehensive Annual Financial Reports

Publishing Entity: State of Delaware - Division of Accounting

IN THE NEWS
Ten years since the first bank collapsed, dodgy debt still threatens another crash

MARCH 24, 2017 | OPENDEMOCRACY.NET (UK)

By Daniel Mugge, includes “Ten years ago, on 2 April 2007, the US subprime mortgage lender New Century filed for bankruptcy in a Delaware court. It was an obscure first domino to fall. But one and a half years later, Lehman Brothers was insolvent, and global finance on the brink of meltdown.

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