Rhode Island

2015 Data (Released 09/19/2016)

Financial State of Rhode Island

Rhode Island owes more than it owns
At -$14,200, Rhode Island's “Taxpayer's Burden” ranks 36th out of the 50 states
Rhode Island 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
Rhode Island has only $3.8 billion of assets available to pay bills totaling $8.9 billion
To fill the $5.2 billion financial hole each Rhode Island taxpayer would have to send $14,200 to the state
Because of a new accounting rule, Rhode Island now has to report its pension debt on its balance sheet. As a result, the state's reported pension debt grew from $6.7 million in 2014 to $3.2 billion in 2015.
The state's financial report was released 170 days after its fiscal year end, which is considered timely according to the 180 day goal

Prior Years' TIA Data

2014 Financial State of Rhode Island

2013 Financial State of Rhode Island

Other Resources

Rhode Island Comprehensive Annual Financial Reports

Publishing Entity: Office of Accounts and Control