Kentucky

2015 Data (Released 04/26/2016)

Financial State of Kentucky

Press Release

 
Kentucky owes more than it owns
At -$33,700, Kentucky's “Taxpayer's Burden” ranks 47th out of the 50 states
Kentucky 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
Kentucky has only $12.3 billion of assets available to pay bills totaling $53.8 billion
To fill the $41.5 billion financial hole each Kentucky taxpayer would have to send $33,700 to the state
Because of a new accounting rule, Kentucky now has to report its pension debt on its balance sheet. As a result, the commonwealth's reported pension debt grew from $3 billion in 2014 to $29.6 billion in 2015. However, the commonwealth is still hiding $3.8 billion of pension debt from taxpayers.
The state's financial report was released 164 days after its fiscal year end, which is considered timely according to the 180 day goal
 

Prior Years' TIA Data

2014 Financial State of Kentucky

2013 Financial State of Kentucky

Other Resources

Kentucky Comprehensive Annual Financial Reports

Publishing Entity: Kentucky Finance & Administration Cabinet

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