Alabama

TIA Data

2017 Financial State of Alabama (Released 9/25/2018)

 
Alabama owes more than it owns.
Alabama has a -$11,800 Taxpayer Burden.™
Alabama is a Sinkhole State 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 available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.
Alabama only has $10.5 billion of assets available to pay bills totaling $25.8 billion.
Because Alabama doesn't have enough money to pay its bills, it has a $15.2 billion financial hole. To fill it, each Alabama taxpayer would have to send $11,800 to the state.
Alabama's reported net position is inflated by $1.1 billion, largely because the state defers recognizing losses incurred when the net pension liability increases.
Despite a recently implemented accounting standard meant to increase transparency, Alabama still excludes $255.1 million of pension debt from its balance sheet. In addition, the state is still hiding $7.7 billion of its retiree health care debt. A new accounting standard will be implemented in the 2018 fiscal year which will require states to report this debt on the balance sheet.
As of August 1, 2018 Alabama still had not released its 2018 annual financial report, making it the most untimely state in the nation.
 

Prior Years' TIA Data

2016 Financial State of Alabama

2015 Financial State of Alabama

2014 Financial State of Alabama

2013 Financial State of Alabama

Other Resources

Alabama Comprehensive Annual Financial Reports

Publishing Entity: Alabama Department of Finance - Comptroller's Office

IN THE NEWS
Alabama pension fund now sole owner of local newspaper chain

JANUARY 4, 2019 | MARIETTA DAILY JOURNAL (GEORGIA)

“Alabama's employee pension fund, with nearly 360,000 members and some $44 billion in managed assets, has become sole owner of one of the largest chains of local U.S. newspapers, the company said Thursday. … Financial details weren't announced. … Alabama's pension fund has other non-traditional investments including golf courses, airliners and the largest office building in New York City, 55 Water.”

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