Minnesota

2015 Data (Released 09/19/2016)

Financial State of Minnesota

Financial State of Minneapolis 

 
Minnesota owes more than it owns
At -$1,800, Minnesota's “Taxpayer's Burden” ranks 16th out of the 50 states
Minnesota 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
Minnesota has only $19.2 billion of assets available to pay bills totaling $22.7 billion
To fill the $3.5 billion financial hole each Minnesota taxpayer would have to send $1,800 to the state
Because of a new accounting rule, Minnesota now has to report its pension debt on its balance sheet. As a result, the state's reported pension debt grew from $140.8 million in 2014 to $3.5 billion in 2015. However, the state is still hiding $258.1 million of pension debt from taxpayers.
The state's financial report was released 164 days after its fiscal year end, which is considered timely according to the 180 day goal
 

Prior Years' TIA Data

2014 Financial State of Minnesota

2013 Financial State of Minnesota

Other Resources

Minnesota Comprehensive Annual Financial Reports

Publishing Entity: Minnesota Management and Budget

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