New Jersey

TIA Data

2016 Financial State of New Jersey (Released 6/15/2017)

 
New Jersey owes more than it owns
New Jersey's Taxpayer Burden™ is -$67,200, and received an "F" from TIA
New Jersey 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
New Jersey only has $23.2 billion of assets available to pay bills totaling $232.1 billion
Because New Jersey doesn't have enough money to pay its bills, it has a $208.9 billion financial hole. To fill it, each New Jersey taxpayer would have to send $67,200 to the state
Because of an accounting rule implemented last year, New Jersey has to report its pension debt on its balance sheet. This year, the state's reported pension debt grew from $82.4 billion in 2015 to $98 billion in 2016.
Despite reporting most of its pension debt, the state is still hiding retiree health care debt. New Jersey's total hidden debt amounts to $57.6 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 258 days after its fiscal year end, which is considered untimely according to the 180 day standard
 

Prior Years' TIA Data

2015 Financial State of New Jersey

2014 Financial State of New Jersey

2013 Financial State of New Jersey

Other Resources

New Jersey Comprehensive Annual Financial Reports

Publishing Entity: Department of the Treasury: Office of Management and Budget

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