Oklahoma

TIA Data

2016 Financial State of Oklahoma (Released 6/15/2017)

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

2015 Financial State of Oklahoma City (Released 1/11/2017)

 
Oklahoma owes more than it owns
Oklahoma's Taxpayer Burden™ is -$5,100, and received a "D" from TIA
Oklahoma 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
Oklahoma only has $10.1 billion of assets available to pay bills totaling $15.7 billion
Because Oklahoma doesn't have enough money to pay its bills, it has a $5.6 billion financial hole. To fill it, each Oklahoma taxpayer would have to send $5,100 to the state
Because of an accounting rule implemented last year, Oklahoma has to report its pension debt on its balance sheet. This year, the state's reported pension debt grew from $1.6 billion in 2015 to $2 billion in 2016. However, the actual pension debt is closer to $8.8 billion. The majority of this debt is excluded because the financial report was prepared using outdated pension valuations.
The state reports most of its retiree health care debt, but still hides $45.7 million. 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 174 days after its fiscal year end, which is considered timely according to the 180 day standard
 

Prior Years' TIA Data

2015 Financial State of Oklahoma

2014 Financial State of Oklahoma

2013 Financial State of Oklahoma

Other Resources

Oklahoma Comprehensive Annual Financial Reports

Publishing Entity: Office of Management and Enterprise Services (OMES)

IN THE NEWS
Oklahoma high court Oks pension law change

OCTOBER 12, 2016 | KFOR-TV (OKLAHOMA)

Includes "The Oklahoma Supreme Court has ruled a law that shifted thousands of newly hired state employees into a new 401(k)-style retirement system was appropriately passed by the Legislature in 2014. 

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