Georgia

2015 Data (Released 09/19/2016)

Financial State of Georgia

Financial State of Atlanta

 
Georgia owes more than it owns
At -$3,900, Georgia's “Taxpayer's Burden” ranks 22nd out of the 50 states
Georgia 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
Georgia has only $17.4 billion of assets available to pay bills totaling $27.8 billion
To fill the $10.4 billion financial hole each Georgia taxpayer would have to send $3,900 to the state
Because of a new accounting rule, Georgia 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 $5.8 billion in 2015. However, the state is still hiding $879.8 million of pension debt from taxpayers.
The state's financial report was released 192 days after its fiscal year end, which is considered untimely according to the 180 day goal
 

Prior Years' TIA Data

2014 Financial State of Georgia

2013 Financial State of Georgia

Other Resources

Georgia Comprehensive Annual Financial Reports

Publishing Entity: State Accounting Office

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