Iowa

TIA Data

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

 
Iowa owns more than it owes
Iowa's Taxpayer Surplus™ is $500, and received a "B" from TIA
Iowa is a Sunshine State 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 $8.4 billion of assets available to pay the state's bills totaling $7.8 billion
Iowa has $528.6 million available after bills have been paid, which breaks down to $500 per taxpayer
Because of an accounting rule implemented last year, Iowa has to report its pension debt on its balance sheet. This year, the state's reported pension debt grew from $833.9 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. Iowa's total hidden debt amounts to $578.3 million. 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 167 days after its fiscal year end, which is considered timely according to the 180 day standard
 

Prior Years' TIA Data

2015 Financial State of Iowa

2014 Financial State of Iowa

2013 Financial State of Iowa

Other Resources

Iowa Comprehensive Annual Financial Reports

Publishing Entity: Iowa Department of Administrative Services

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