Maryland

TIA Data

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

 
Maryland owes more than it owns.
Maryland has a -$16,000 Taxpayer Burden.™
Maryland 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.
Maryland only has $17.1 billion of assets available to pay bills totaling $51.7 billion.
Because Maryland doesn't have enough money to pay its bills, it has a $34.6 billion financial hole. To fill it, each Maryland taxpayer would have to send $16,000 to the state.
Maryland's reported net position is inflated by $5.2 billion, largely because the state defers recognizing losses incurred when the net pension liability increases.
The state is still hiding $6.9 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 Maryland

2016 Financial State of Baltimore

2015 Financial State of Maryland

2014 Financial State of Maryland

2013 Financial State of Maryland

Other Resources

Maryland Comprehensive Annual Financial Reports

Publishing Entity: Comptroller of Maryland

IN THE NEWS
Accounting for oysters: The importance of fiscal notes in policymaking

DECEMBER 13, 2018 | GOVERNING | by Katherine Barrett, Richard Greene

Here’s a classic dilemma for agencies: When the cost of a new project is underestimated, agency managers may have to drop aspects of the program, reassess targets, slow down timetables or even ask the legislature for more money. So how do managers avoid this quandary? Fiscal notes. That is, the legislature should factor into every debate about a bill the estimated cost of the program.

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