Mississippi

2015 Data (Released 09/19/2016)

Financial State of Mississippi

 
Mississippi owes more than it owns
At -$11,800, Mississippi's “Taxpayer's Burden” ranks 33rd out of the 50 states
Mississippi 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
Mississippi has only $5 billion of assets available to pay bills totaling $13.4 billion
To fill the $8.4 billion financial hole each Mississippi taxpayer would have to send $11,800 to the state
Because of a new accounting rule, Mississippi now has to report its pension debt on its balance sheet. As a result, the state's reported pension debt grew from $0 in 2014 to $4.3 billion in 2015. However, the state is still hiding $1.2 billion of pension debt from taxpayers.
The state's financial report was released 297 days after its fiscal year end, which is considered untimely according to the 180 day goal
 

Prior Years' TIA Data

2014 Financial State of Mississippi

2013 Financial State of Mississippi

Other Resources

Mississippi Comprehensive Annual Financial Reports

Publishing Entity: Mississippi Office of the State Auditor

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