Iowa

TIA Data

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

 
Iowa owns more than it owes.
Iowa has a $500 Taxpayer Surplus.™
Iowa 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.
Iowa has $8.7 billion of assets available to pay the state's bills totaling $8.2 billion.
Iowa has $504.9 million available after bills have been paid, which breaks down to $500 per taxpayer.
Iowa's reported net position is inflated by $402 million, largely because the state defers recognizing losses incurred when the net pension liability increases.
Despite a recently implemented accounting standard meant to increase transparency, Iowa still excludes $64.4 million of pension debt from its balance sheet. In addition, the state is still hiding $43.4 million 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.
The state's financial report was released 167 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2016 Financial State of Iowa

2015 Financial State of Iowa

2014 Financial State of Iowa

2013 Financial State of Iowa

2012 Financial State of Iowa

2011 Financial State of Iowa

2010 Financial State of Iowa

2009 Financial State of Iowa

Other Resources

Iowa Comprehensive Annual Financial Reports

Publishing Entity: Iowa Department of Administrative Services

IN THE NEWS
Property tax bill does not affect public pension funding

APRIL 30, 2019 | DES MOINES REGISTER (IOWA) | by Stan Gustafson

“… I realize this is a lengthy explanation but wanted you to understand that your input, the input of other taxpayers, and of local governments, is very important in helping the Legislature draft bills. Public entities should not make decisions in a vacuum, and it is important that you remain involved, not only with the state government, but with your local governments so that the board and council members, your neighbors and fellow taxpayers, will wisely spend your tax dollars to make the best decisions possible for your community.”

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