Massachusetts

TIA Data

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

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

 
Massachusetts owes more than it owns
Massachusetts' Taxpayer Burden™ is -$32,900, and received an "F" from TIA
Massachusetts 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
Massachusetts only has $20.9 billion of assets available to pay bills totaling $103.7 billion
Because Massachusetts doesn't have enough money to pay its bills, it has a $82.9 billion financial hole. To fill it, each Massachusetts taxpayer would have to send $32,900 to the state
Because of an accounting rule implemented last year, Massachusetts has to report its pension debt on its balance sheet. This year, the commonwealth's reported pension debt grew from $26.3 billion in 2015 to $35.4 billion in 2016.
Despite reporting most of its pension debt, the commonwealth is still hiding retiree health care debt. Massachusetts' total hidden debt amounts to $15.3 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 190 days after its fiscal year end, which is considered untimely according to the 180 day standard
 

Prior Years' TIA Data

2015 Financial State of Massachusetts

2014 Financial State of Massachusetts

2013 Financial State of Massachusetts

Other Resources

Massachusetts Comprehensive Annual Financial Reports

Publishing Entity: Comptroller of the Commonwealth of Massachusetts

IN THE NEWS
Preparing for the pension tsunami

MAY 3, 2017 | SALEM NEWS (MASSACHUSETTS)

In 2015, public pension plans in Massachusetts spent close to $400 million on management, consulting and custodial fees.

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