Iowa

2015 Data (Released 09/19/2016)

Financial State of Iowa

Press Release

 
Iowa owns more than it owes
At $1,100, Iowa's “Taxpayer's Surplus” ranks 10th out of the 50 states
Iowa is among 10 “Sunshine States” with enough assets to cover its debt
Elected officials have created a Taxpayer Surplus, which is each taxpayer's share of money available after state bills have been paid
TIA's Taxpayer Surplus measurement incorporates both assets and liabilities, not just pension debt
Iowa has $9.1 billion of assets available to pay the state's bills totaling $7.9 billion
Iowa has $1.1 billion available after bills have been paid: $1,100 per taxpayer
Because of a new accounting rule, Iowa now has to report its pension debt on its balance sheet. As a result, the state's reported pension debt grew from $63.8 million in 2014 to $833.9 million in 2015. However, the state is still hiding $169 million of pension debt from taxpayers.
The state's financial report was released 167 days after its fiscal year end, which is considered timely according to the 180 day goal
 

Prior Years' TIA Data

2014 Financial State of Iowa

2013 Financial State of Iowa

Other Resources

Iowa Comprehensive Annual Financial Reports

Publishing Entity: Iowa Department of Administrative Services

IN THE NEWS
Grassley seeks probe of efforts to protect pension fund

FEBRUARY 3, 2016 | DES MOINES REGISTER

Sen. Charles Grassley this week asked the Government Accountability Office to review federal oversight of a plan that would slash the pensions of 6,700 Iowans and thousands of other retirees across the country. Grassley said the time is ripe to review a federal court-ordered consent decree more than three decades ago that gave the U.S. Labor Department oversight of the Central States pension fund. That decree came after an investigation that found gross mismanagement and self-dealing by fund managers.

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