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Montana doesn’t have assets to pay all bills, Truth in Accounting says

JUNE 21, 2012 | by Phil Drake | MONTANAWATCHDOG.ORG

The state has $13.1 billion in assets, but most are not available to meet Montana’s bills, according to a recent report that based its findings on information in state financial and pension data.

Montana taxpayers would have to pay $300 each to make up a shortfall, or so says the Institute for Truth In Accounting (IFTA), a Chicago-based nonprofit organization that claims its mission as seeking more effective and accurate accounting by states.

Of the $13.1 billion in assets, $5.5 billion are available to pay $5.6 billion in bills, leaving a shortfall of $88.9 million, IFTA’s second annual “Financial State of the States Report” notes.

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