Pennsylvania

2015 Data (Released 06/23/2016)

Financial State of Pennsylvania

Financial State of Philadelphia

 
Pennsylvania owes more than it owns
At -$15,500, Pennsylvania's “Taxpayer's Burden” ranks 38th out of the 50 states
Pennsylvania 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
Pennsylvania has only $40.7 billion of assets available to pay bills totaling $106.5 billion
To fill the $65.8 billion financial hole each Pennsylvania taxpayer would have to send $15,500 to the state
Because of a new accounting rule, Pennsylvania now has to report its pension debt on its balance sheet. As a result, the commonwealth's reported pension debt grew from $0 in 2014 to $14 billion in 2015. However, the commonwealth is still hiding $21.7 billion of pension debt from taxpayers.
The state's financial report was released 213 days after its fiscal year end, which is considered untimely according to the 180 day goal
 

Prior Years' TIA Data

2014 Financial State of Pennsylvania

2013 Financial State of Pennsylvania

Other Resources

Pennsylvania Comprehensive Annual Financial Reports

Publishing Entity: Pennslyvania Office of the Budget

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