Arkansas owns more than it owes. |
Arkansas' Taxpayer Surplus™ is $1,300, and it received a "B" from TIA. |
Arkansas is a Sunshine State with enough assets to cover its debt. |
Elected officials have created a Taxpayer Surplus™, which is each taxpayer's share of money available after state bills have been paid. |
TIA's Taxpayer Surplus™ measurement incorporates both assets and liabilities, not just pension debt. |
Arkansas has $10.5 billion of assets available to pay the state's bills totaling $9.4 billion. |
Arkansas has $1.1 billion available after bills have been paid, which breaks down to $1,300 per taxpayer. |
Arkansas's reported net position is overstated by $373.3 million, largely because the state delays recognizing losses incurred when the net pension liability increases. |
The state's financial report was released 205 days after its fiscal year end, which is considered untimely according to the 180 day standard. |