Truth in Accounting
Louisiana

TIA Data

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

 
Louisiana owes more than it owns.
Louisiana has a -$15,500 Taxpayer Burden.™
Louisiana 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.
Louisiana only has $15.9 billion of assets available to pay bills totaling $35.6 billion.
Because Louisiana doesn't have enough money to pay its bills, it has a $19.7 billion financial hole. To fill it, each Louisiana taxpayer would have to send $15,500 to the state.
Louisiana's reported net position is inflated by $2.4 billion, largely because the state defers recognizing losses incurred when the net pension liability increases.
The state is still hiding $2.6 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 state's financial report was released 182 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2016 Financial State of Louisiana

2015 Financial State of Louisiana

2014 Financial State of Louisiana

2013 Financial State of Louisiana

2012 Financial State of Louisiana

2011 Financial State of Louisiana

2010 Financial State of Louisiana

2009 Financial State of Louisiana

City and Other Municipal Reports

Financial State of New Orleans

Other Resources

Louisiana Comprehensive Annual Financial Reports

Publishing Entity: Division of Administration

IN THE NEWS
Baton Rouge No. 2 for underfunded pension liabilities

APRIL 18, 2019 | GREATER BATON ROUGE BUSINESS REPORT

As of 2016, over 50% of Baton Rouge’s revenues were obligated to pay for pensions, but the city-parish only paid roughly half of what was due, The Wall Street Journal reports.

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