Maine

2015 Data (Released 09/19/2016)

Financial State of Maine

 
Maine owes more than it owns
At -$8,400, Maine's “Taxpayer's Burden” ranks 30th out of the 50 states
Maine 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
Maine has only $6 billion of assets available to pay bills totaling $9.7 billion
To fill the $3.7 billion financial hole each Maine taxpayer would have to send $8,400 to the state
Because of a new accounting rule, Maine now has to report its pension debt on its balance sheet. As a result, the state's reported pension debt grew from $26.6 million in 2014 to $1.9 billion in 2015. However, the state is still hiding $432.1 million of pension debt from taxpayers.
The state's financial report was released 184 days after its fiscal year end, which is considered untimely according to the 180 day goal
 

Prior Years' TIA Data

2014 Financial State of Maine

2013 Financial State of Maine

Other Resources

Maine Comprehensive Annual Financial Reports

Publishing Entity: Office of the State Controller

IN THE NEWS
Fiscal survey of the states

DECEMBER 16, 2015 | NATIONAL ASSOCIATION OF STATE BUDGET OFFICERS

Enacted state budgets for fiscal 2016 represent a sixth consecutive year of spending and revenue growth, according to this report. 

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