Kentucky

TIA Data

2016 Financial State of Kentucky (Released 4/17/2017)

2015 Financial State of Louisville (Released 1/11/2017)

 
Kentucky owes more than it owns and ranks the 47th out of the 50 states.
Kentucky's Taxpayer Burden™ is -$39,000, and received an "F" from TIA.
Kentucky 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.
Kentucky only has $12.7 billion of assets available to pay bills totaling $61.5 billion.
Because Kentucky doesn't have enough money to pay its bills, it has a $48.9 billion financial hole. To fill it, each Kentucky taxpayer would have to send $39,000 to the state.
Because of an accounting rule implemented last year, Kentucky has to report its pension debt on its balance sheet. This year, the commonwealth's reported pension debt grew from $29.6 billion in 2015 to $33.6 billion in 2016.
Despite reporting most of its pension debt, the commonwealth is still hiding retiree health care debt. Kentucky's total hidden debt amounts to $9.1 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 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 Kentucky

2014 Financial State of Kentucky

2013 Financial State of Kentucky

Other Resources

Kentucky Comprehensive Annual Financial Reports

Publishing Entity: Kentucky Finance & Administration Cabinet

IN THE NEWS
Pension crisis: 401(k) factor

SEPTEMBER 20, 2017 | THE MESSENGER (KENTUCKY) | by Tom Loftus

To the taxpayer, the solution to Kentucky’s pension crisis may seem simple: Just move those public employees from pensions to a 401(k).

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