Massachusetts

TIA Data

2017 Financial State of Massachusetts (Released 6/19/2018)

 
Massachusetts owes more than it owns.
Massachusetts has a -$33,500 Taxpayer Burden.™
Massachusetts 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.
Massachusetts only has $21.3 billion of assets available to pay bills totaling $108.2 billion.
Because Massachusetts doesn't have enough money to pay its bills, it has a $86.9 billion financial hole. To fill it, each Massachusetts taxpayer would have to send $33,500 to the state.
Massachusetts has delayed the recognition of changes in its pension liability. As a result of this and other deferrals, the state's overall net position is inflated by $9.2 billion.
Despite reporting all of its pension debt, the state is still hiding $13.4 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 194 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2016 Financial State of Massachusetts

2016 Financial State of Boston

2015 Financial State of Massachusetts

2014 Financial State of Massachusetts

2013 Financial State of Massachusetts

Other Resources

Massachusetts Comprehensive Annual Financial Reports

Publishing Entity: Comptroller of the Commonwealth of Massachusetts

IN THE NEWS
Truth in Accounting

JUNE 15, 2018 | UNIVERSITY OF MASSACHUSETTS-AMHERST SCHOOL OF PUBLIC POLICY

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