Kentucky

TIA Data

2017 Financial State of Kentucky (Released 4/16/2018)

2016 Financial State of Lexington (Released 1/24/2018)

2016 Financial State of Louisville (Released 1/24/2018)

 
Kentucky owes more than it owns.
Kentucky has a -$39,200 Taxpayer Burden.™
Kentucky 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 commonwealth bills after its available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.
Kentucky only has $12 billion of assets available to pay bills totaling $62.3 billion.
Because Kentucky doesn't have enough money to pay its bills, it has a $50.3 billion financial hole. To fill it, each Kentucky taxpayer would have to send $39,200 to the commonwealth.
Kentucky has delayed the recognition of changes in its pension liability. As a result of this and other deferrals, the commonwealth's overall net position is inflated by $7.5 billion.
Despite reporting all of its pension debt, the commonwealth is still hiding $3.1 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.
The commonwealth's financial report was released 166 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2016 Financial State of Kentucky

2015 Financial State of Kentucky

2014 Financial State of Kentucky

2013 Financial State of Kentucky

Other Resources

Kentucky Comprehensive Annual Financial Reports

Publishing Entity: Kentucky Finance & Administration Cabinet

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