Louisiana

TIA Data

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

2015 Financial State of New Orleans (Released 1/11/2017)

 
Louisiana owes more than it owns
Louisiana's Taxpayer Burden™ is -$18,300, and received a "D" from TIA
Louisiana 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
Louisiana only has $13.7 billion of assets available to pay bills totaling $37.3 billion
Because Louisiana doesn't have enough money to pay its bills, it has a $23.7 billion financial hole. To fill it, each Louisiana taxpayer would have to send $18,300 to the state
Because of an accounting rule implemented last year, Louisiana has to report its pension debt on its balance sheet. This year, the state's reported pension debt grew from $8.8 billion in 2015 to $9.5 billion in 2016.
Despite reporting most of its pension debt, the state is still hiding retiree health care debt. Louisiana's total hidden debt amounts to $5.9 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 183 days after its fiscal year end, which is considered untimely according to the 180 day standard
 

Prior Years' TIA Data

2015 Financial State of Louisiana

2014 Financial State of Louisiana

2013 Financial State of Louisiana

Other Resources

Louisiana Comprehensive Annual Financial Reports

Publishing Entity: Division of Administration

IN THE NEWS
Illinois residents least confident in their state government

MARCH 1, 2017 | GALLUP

By Jeffrey Jones, from 2016, includes "... Corruption and challenging economic times likely contribute to other states ranking among the least confident in their government. Louisiana, like Illinois, is renowned for corruption in politics, and many of the other lower-confidence states have had high-ranking elected officials convicted of crimes in recent years.

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