Massachusetts

2015 Data (Released 06/23/2016)

Financial State of Massachusetts

Press Release

Financial State of Boston

 
Massachusetts owes more than it owns
At -$30,300, Massachusetts's “Taxpayer's Burden” ranks 46th out of the 50 states
Massachusetts 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
Massachusetts has only $21 billion of assets available to pay bills totaling $95.9 billion
To fill the $74.9 billion financial hole each Massachusetts taxpayer would have to send $30,300 to the state
Because of a new accounting rule, Massachusetts now has to report its pension debt on its balance sheet. As a result, the commonwealth's reported pension debt grew from $2.4 billion in 2014 to $26.3 billion in 2015. However, the commonwealth is still hiding $6.4 billion of pension debt from taxpayers.
The state's financial report was released 323 days after its fiscal year end, which is considered untimely according to the 180 day goal
 

Prior Years' TIA Data

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
How 'blue' is Massachusetts?

JULY 28, 2016 | CAMBRIDGE PATCH (MASSACHUSETTS)

"... Massachusetts has a strong liberal reputation, but just how much influence does the state's ideological leaning have on government? Let's find out using Truth in Accounting's State Data Lab..."

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