New Jersey

2015 Data (Released 06/23/2016)

Financial State of New Jersey

Press Release

 
New Jersey owes more than it owns
At -$59,400, New Jersey's “Taxpayer's Burden” ranks 50th out of the 50 states
New Jersey 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
New Jersey has only $24.6 billion of assets available to pay bills totaling $207.6 billion
To fill the $183 billion financial hole each New Jersey taxpayer would have to send $59,400 to the state
Because of a new accounting rule, New Jersey now has to report its pension debt on its balance sheet. As a result, the state's reported pension debt grew from $16 billion in 2014 to $82.4 billion in 2015. However, the state is still hiding $13 billion of pension debt from taxpayers.
The state's financial report was released 254 days after its fiscal year end, which is considered untimely according to the 180 day goal
 

Prior Years' TIA Data

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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