Maine

TIA Data

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

 
Maine owes more than it owns.
Maine has a -$7,500 Taxpayer Burden.™
Maine 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.
Maine only has $6.4 billion of assets available to pay bills totaling $9.9 billion.
Because Maine doesn't have enough money to pay its bills, it has a $3.5 billion financial hole. To fill it, each Maine taxpayer would have to send $7,500 to the state.
Maine's reported net position is inflated by $884.9 million, largely because the state defers recognizing losses incurred when the net pension liability increases.
The state is still hiding $1.6 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 168 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2016 Financial State of Maine

2015 Financial State of Maine

2014 Financial State of Maine

2013 Financial State of Maine

Other Resources

Maine Comprehensive Annual Financial Reports

Publishing Entity: Office of the State Controller

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OCTOBER 2, 2018 | JOURNAL OF ACCOUNTANCY | by Drew Adamek

It's an all-too-common headline: Government employee steals public money. While the details are different, the general outline of the scheme is usually the same. It's an all-too-common headline: Government employee steals public money. While the details are different, the general outline of the scheme is usually the same. 

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