Ohio

TIA Data

2016 Financial State of Ohio (Released 5/15/2017)

2015 Financial State of Columbus (Released 1/11/2017)

 
Ohio owes more than it owns
Ohio's Taxpayer Burden™ is -$5,800, and received a "D" from TIA
Ohio 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
Ohio only has $45 billion of assets available to pay bills totaling $67.6 billion
Because Ohio doesn't have enough money to pay its bills, it has a $22.6 billion financial hole. To fill it, each Ohio taxpayer would have to send $5,800 to the state
Because of an accounting rule implemented last year, Ohio has to report its pension debt on its balance sheet. This year, the state's reported pension debt grew from $5 billion in 2015 to $6.9 billion in 2016.
Despite reporting most of its pension debt, the state is still hiding retiree health care debt. Ohio's total hidden debt amounts to $7.8 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 175 days after its fiscal year end, which is considered timely according to the 180 day standard
 

Prior Years' TIA Data

2015 Financial State of Ohio

2014 Financial State of Ohio

2013 Financial State of Ohio

Other Resources

Ohio Comprehensive Annual Financial Reports

Publishing Entity: Office of Budget and Management

IN THE NEWS
Ohio's public-employee pensions face cutbacks

JUNE 12, 2017 | THE COLUMBUS DISPATCH (OHIO)

Public-employee pension funds are big business in Ohio, providing a safety net for 1.75 million people. There's a lot riding on them.

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