West Virginia

2015 Data (Released 09/19/2016)

Financial State of West Virginia

 
West Virginia owes more than it owns
At -$13,900, West Virginia's “Taxpayer's Burden” ranks 34th out of the 50 states
West Virginia 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
West Virginia has only $8.5 billion of assets available to pay bills totaling $15.7 billion
To fill the $7.3 billion financial hole each West Virginia taxpayer would have to send $13,900 to the state
Because of a new accounting rule, West Virginia 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 $3.6 billion in 2015. However, the state is still hiding $166.8 million of pension debt from taxpayers.
The state's financial report was released 314 days after its fiscal year end, which is considered untimely according to the 180 day goal
 

Prior Years' TIA Data

2014 Financial State of West Virginia

2013 Financial State of West Virginia

Other Resources

West Virginia Comprehensive Annual Financial Reports

Publishing Entity: Department of Administration - Finance Division

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