Oregon

2015 Data (Released 09/19/2016)

Financial State of Oregon

Financial State of Portland

 
Oregon owes more than it owns
At -$400, Oregon's “Taxpayer's Burden” ranks 11th out of the 50 states
Oregon 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
Oregon has only $18 billion of assets available to pay bills totaling $18.5 billion
To fill the $491.4 million financial hole each Oregon taxpayer would have to send $400 to the state
Because of a new accounting rule, Oregon 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 a net pension asset of $626.6 million in 2015. However, because the state reported outdated pension numbers, they're actually hiding $1.6 billion of pension debt from taxpayers.
The state's financial report was released 191 days after its fiscal year end, which is considered untimely according to the 180 day goal
 

Prior Years' TIA Data

2014 Financial State of Oregon

2013 Financial State of Oregon

Other Resources

Oregon Comprehensive Annual Financial Reports

Publishing Entity: Department of Administrative Services

IN THE NEWS
Going to pot: sales tax predictions for 2016

JANUARY 6, 2016 | ACCOUNTING TODAY | by JONATHAN BARSADE

State government debt is expected to reach $1.17 trillion in fiscal year 2016, but elected officials have no interest in raising tax rates or taking austerity measures. Why commit political suicide when there are creative ways to boost tax revenue without angering voting taxpayers?

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